Premium Collection

Premium Collection is formed by a variety of processes. All of these processes are supported by high-end software applications.

The premium collection process has three main priorities:

Compliance with in-force regulations, determined either by carriers or regulators.
Providing a professional and customized service to broker networks.
Timely collection of all premiums due.

Different combinations of carrier resources with our service platform cover the full range of tasks involved in reception and issuing of new business, including (but not limited to):

Multiple payment methods management (Credit cards, wire transfers, checks, etc).
Due premiums monitoring & calculation.
Credit card batch collection files generation (Visa CISP compliant).
Transaction confirmation data processing.
Collected premiums allocation to individual accounts & policies.
Premium history records for individual accounts.
Individual client queries management.
Collected & pending premiums notification to brokers and clients.

Combinations of resources to perform these tasks are determined by carriers’ requirements, with a view to optimizing resources and complying with the listed priorities. In all combinations, our service platform is capable of delivering real time information to broker networks and clients.

Full outsourcing option is available in all lines of business through our Premium Collection Engine (PCE).