Find out how 3 Point Alliance helped a leading insurance carrier with better payment processing for multiple types of insurance remittances.
Accurate Processing of Multiple Payment Types
When an established insurance provider who specializes in offering innovative and flexible employee benefit solutions across disability income, group term life insurance, various voluntary (employee paid) coverage options, and many other payment types, needed to fix some critical remittance issues – ranging from the need to reduce processing costs to ensuring that a common set of business rules were applied consistently across their agent network — 3 Point Alliance was there to help them.
Key issues we needed to resolve:
Recognizing their unique and complex set of needs, 3PPP was hired to customize a solution that would:
This client started with numerous agent office receivables issues due to inconsistent payment practices which meant payments were being misapplied triggering late fees or policy lapses for their customers.
After we were able to identify the problem areas and implement a set of customized 3 Point Alliance integrated solutions, we achieved outstanding results for this client by:
3PPP continues to work with our client to fine-tune their receivables processing with the common goal of zero payment posting rejects.