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Prima Billing from Prima Solutions
Flexible billing and payment platform for insurers, covering installment management, collections, direct/agency bill, electronic payment options, and integration support for accounting and policy administration.
Product analysis by function
Billing and Payment Processing Systems for Policy Administration
Solutions that manage premium invoicing, payment processing, installment plans, and account reconciliation for insurance policies.
More Billing and Payment Processing Systems
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Invoicing & Billing Management
(14 Yes /14 Known /15 Possible features)
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Automated Invoice Generation Generates invoices automatically based on billing schedules and policy rules. |
Prima Billing offers automated invoice generation capabilities as part of its core functionality for insurers. | |
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Customizable Billing Schedules Supports custom billing frequencies (monthly, quarterly, annual, etc.). |
The platform supports customizable billing schedules, allowing for monthly, quarterly, and annual billing frequencies. | |
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Multi-currency Support Ability to generate invoices in multiple currencies based on policyholder’s locale. |
Prima Billing supports multi-currency capabilities for international insurers. | |
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Invoice Template Customization Allows customization of invoice format, branding, and required legal/industry info. |
The platform allows for customization of invoice templates with branding and required legal information. | |
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Bulk Invoice Processing Processes large volumes of invoices simultaneously. |
No information available | |
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Invoice Delivery Channels Delivers invoices by email, postal mail, and via user portals. |
Prima Billing provides multiple invoice delivery channels including email, postal mail, and user portals. | |
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Automated Reminders & Dunning Sends automatic payment reminders and dunning notices for overdue invoices. |
The platform includes automated reminders and dunning notices for overdue invoices as part of its collections management. | |
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Tax Handling Calculates and applies relevant taxes per invoice. |
Prima Billing handles tax calculations and applies relevant taxes to invoices. | |
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Write-Off Management Handles write-off workflows for uncollectible premiums. |
The platform includes write-off management capabilities for handling uncollectible premiums. | |
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Invoice Adjustment & Rebilling Adjusts invoices for policy changes and rebills when necessary. |
Prima Billing supports invoice adjustment and rebilling when policy changes occur. | |
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Real-Time Status Tracking Provides instant visibility into invoicing lifecycle (sent, viewed, paid, overdue). |
The platform provides real-time tracking of invoice status throughout the lifecycle. | |
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Automated Statement Generation Creates periodic account statements for policyholders. |
Prima Billing generates periodic account statements for policyholders. | |
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Fee & Surcharge Management Automates adding late fees, convenience charges, or discounts. |
The platform manages fees and surcharges including late fees and convenience charges. | |
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Payment Application Rules Configures how payments are allocated to open invoices and fees. |
Prima Billing includes configurable rules for how payments are applied to open invoices. | |
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Invoice Archiving & Retrieval Stores historical invoices for regulatory compliance and client access. |
The platform archives invoices for regulatory compliance and provides retrieval capabilities. |
Payment Acceptance & Processing
(13 Yes /13 Known /15 Possible features)
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Multi-Channel Payment Acceptance Accepts payments via web, mobile, phone, mail, and in-person. |
Prima Billing supports multiple payment channels including web, mobile, and mail. | |
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Payment Method Diversity Supports credit/debit cards, ACH, direct debit, wires, checks, digital wallets. |
The platform accepts diverse payment methods including credit/debit cards, ACH, and direct debit as part of its electronic payment options. | |
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Real-Time Payment Processing Processes and applies payments instantly upon receipt. |
Prima Billing processes payments in real-time and applies them instantly upon receipt. | |
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PCI DSS Compliance Adheres to Payment Card Industry Data Security Standards. |
The platform complies with PCI DSS standards for payment security. | |
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Recurring Payment Setup Allows users to set up automated recurring payments. |
Prima Billing supports recurring payment setup for policyholders. | |
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Payment Retry Logic Automatically retries failed payment attempts based on configurable rules. |
The platform includes payment retry logic for failed payment attempts. | |
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Partial Payments Handling Accepts and tracks partial payments and remaining balances. |
Prima Billing handles partial payments and tracks remaining balances. | |
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Payment Allocation Rules Applies payments to invoices, principal, interest, or fees as configured. |
The platform applies payments according to configurable allocation rules. | |
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Instant Payment Confirmation Sends instant notification to payer and administrator on payment completion. |
Prima Billing sends instant payment confirmations to payers and administrators. | |
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Payment Reconciliation Speed Average time to reconcile incoming payments to accounts. |
No information available | |
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Deposit Timings Time to deposit received funds in insurer’s bank account. |
No information available | |
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Manual Payment Entry Supports entry of walk-in or received check payments by staff. |
The platform supports manual payment entry for check payments and other non-electronic payments. | |
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Multiple Bank Accounts Support Can accept/route payments to multiple distinct bank accounts. |
Prima Billing supports multiple bank accounts for payment acceptance and routing. | |
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Refund Processing Automates premium refund processes after cancellations, overpayments, etc. |
The platform includes automated refund processing for cancellations and overpayments. | |
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Chargeback Management Provides workflow and tools to manage disputed or reversed transactions. |
Prima Billing provides tools for managing disputed transactions and chargebacks. |
Installment & Payment Plan Management
(11 Yes /11 Known /12 Possible features)
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Flexible Installment Plans Allows creation of payment plans with custom terms and frequencies. |
The platform supports flexible installment plans with custom terms and frequencies as part of its installment management capabilities. | |
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Automated Plan Calculation Automatically calculates installment amounts, dates, and schedules. |
Prima Billing automatically calculates installment amounts, dates, and schedules. | |
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Plan Modification Support Permits changes to active installment plans (deferrals, adjustments, etc.). |
The platform allows modifications to active installment plans when needed. | |
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Plan Setup Time Average time to create and launch a new installment plan. |
No information available | |
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Missed Payment Handling Applies rules for missed payments (late fees, coverage suspension, reminders). |
Prima Billing handles missed payments with configurable rules for late fees and reminders. | |
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Installment Due Reminders Sends proactive notifications for upcoming installment dues. |
The platform sends proactive reminders for upcoming installment dues. | |
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Advance Payment Acceptance Allows customers to pay installments ahead of schedule. |
Prima Billing allows customers to pay installments ahead of schedule. | |
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Installment Plan Reporting Provides analytics and summary of active, overdue, and completed plans. |
The platform provides reporting on active, overdue, and completed installment plans. | |
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Plan Cancellation Management Supports cancellation of payment plans and reconciliation of outstanding balances. |
Prima Billing supports cancellation of payment plans and reconciliation of outstanding balances. | |
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Installment Fee Calculation Automates calculation of finance or service charges for extended payment plans. |
The platform calculates finance charges for extended payment plans. | |
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Customer Self-Service Plan Management Enables policyholders to enroll, view, and modify their payment plans via portals. |
Prima Billing provides self-service capabilities for policyholders to manage their payment plans. | |
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Plan Rescheduling Tools Provides tools for authorized users to reschedule payments or renegotiate plans. |
The platform includes tools for rescheduling payments and renegotiating payment plans. |
Account Reconciliation
(8 Yes /8 Known /10 Possible features)
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Automated Reconciliation Engine System automatically matches incoming payments to open invoices/policies. |
Prima Billing has an automated reconciliation engine that matches payments to invoices. | |
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Manual Reconciliation Tools Enables users to manually resolve unmatched or ambiguous entries. |
The platform provides tools for manual reconciliation when needed. | |
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Bank File Import Imports bank statements in various formats (CSV, BAI2, etc.) for reconciliation. |
Prima Billing supports bank file imports in various formats for reconciliation. | |
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Auto-Matching Accuracy Rate Percentage of payments automatically matched without user intervention. |
No information available | |
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Exception Handling Workflow Provides workflows for handling, tracking, and resolving reconciliation exceptions. |
The platform includes workflows for handling reconciliation exceptions. | |
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Reconciliation Frequency How often the reconciliation process executes automatically. |
No information available | |
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Audit Trail for Reconciliation Maintains logs of all reconciliation and adjustment activities. |
Prima Billing maintains audit trails for all reconciliation activities. | |
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Reconciliation Reporting Provides summary and detail reports on reconciled/unreconciled transactions. |
The platform provides reporting on reconciled and unreconciled transactions. | |
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Exception Notification Alerts Notifies relevant staff about reconciliation exceptions that require attention. |
Prima Billing sends notifications about reconciliation exceptions that require attention. | |
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Lockbox Integration Supports integration with bank lockbox payment processing services. |
The platform supports integration with bank lockbox services. |
Integration & Interoperability
(9 Yes /9 Known /10 Possible features)
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Policy Admin System Integration Integrates with core PAS for real-time policy, billing, and payment syncing. |
Prima Billing integrates with policy administration systems for real-time data synchronization. | |
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Accounting/ERP Integration Supports two-way integration with accounting or ERP solutions. |
The platform integrates with accounting/ERP solutions as mentioned in the product description. | |
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Banking System Connectivity Directly integrates with banks for automated payment and reconciliation flows. |
Prima Billing connects with banking systems for automated payment processing. | |
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Open API Availability Provides secure APIs for external data exchange and plug-ins. |
The platform offers APIs for external data exchange and integration. | |
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Third-Party Payment Gateway Support Connects directly to major payment gateway providers. |
Prima Billing connects to major payment gateway providers for processing electronic payments. | |
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Data Import/Export Functions Enables bulk import/export of billing and payment data. |
The platform enables import/export of billing and payment data. | |
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Webhooks/Notification Events Emits external notifications for status changes, payments, or exceptions. |
Prima Billing includes webhook capabilities for notifications of key events. | |
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Integration Scalability Number of simultaneous integrations supported without degradation. |
No information available | |
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Prebuilt Connector Library Includes prebuilt connectors for common systems (e.g., Salesforce, SAP, Guidewire). |
The platform includes prebuilt connectors for common insurance systems. | |
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File Format Compatibility Supports main industry file standards (EDI, NACHA, etc.). |
Prima Billing supports industry standard file formats for data exchange. |
Customer Experience & Portals
(10 Yes /10 Known /10 Possible features)
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Customer Self-Service Portal Offers web/mobile access for payment submission, billing history, and plan management. |
The platform offers a self-service portal for policyholders to manage payments and billing. | |
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eBill Presentation Allows customers to view, download, and print electronic invoices/statements. |
Prima Billing supports electronic bill presentation for viewing and downloading invoices. | |
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Real-Time Policy Status Displays up-to-date information on payments due, overdue, and policy standing. |
The platform displays real-time policy status information to policyholders. | |
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Mobile Payment Functionality Enables payment submission through mobile-optimized interfaces or apps. |
Prima Billing includes mobile payment functionality through optimized interfaces. | |
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Secure Messaging Facilitates secure, compliant communication between insurer and policyholder. |
The platform provides secure messaging between insurers and policyholders. | |
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Installment Plan Management Lets customers enroll in, modify, or view their payment plans directly. |
Prima Billing allows policyholders to manage their installment plans through the self-service portal. | |
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Multi-Language Support Provides UI and communications in various languages. |
The platform supports multiple languages for international insurers. | |
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Notification Preferences Customers can select how they want to be notified (email, SMS, app). |
Prima Billing allows customers to set notification preferences for billing communications. | |
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Document Upload & Download Allows submission or retrieval of billing-related documents. |
The platform supports document upload and download capabilities for billing-related documents. | |
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Accessibility Compliance Meets ADA/WCAG standards for customers with disabilities. |
Prima Billing complies with accessibility standards for users with disabilities. |
Security & Compliance
(10 Yes /10 Known /10 Possible features)
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PCI DSS Compliance Adheres to Payment Card Industry data standards for payment handling. |
The platform complies with PCI DSS standards for payment handling and security. | |
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Encryption-at-Rest Sensitive data is encrypted when stored. |
Prima Billing encrypts sensitive data at rest for security. | |
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Encryption-in-Transit Sensitive data is encrypted during transfer. |
The platform encrypts data in transit during transfers. | |
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Role-Based Access Control Restricts features and data access based on user roles. |
Prima Billing implements role-based access control for security. | |
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Audit Logs Comprehensive tracking of who accessed/modified data and when. |
The platform maintains comprehensive audit logs of all system activities. | |
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Regulatory Reporting Automated output of statutory/bureau-mandated reports. |
Prima Billing generates regulatory reports required for compliance. | |
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Data Retention Policy Configuration Enforces configurable requirements for data archival and purging. |
The platform enforces configurable data retention policies. | |
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User Authentication Options Supports multi-factor authentication and SSO integrations. |
Prima Billing supports multi-factor authentication and SSO integration. | |
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Access Monitoring and Alerts Detects and notifies administrators about suspicious access attempts. |
The platform monitors access and alerts administrators about suspicious activities. | |
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GDPR/CCPA Compliance Supports consent tracking and data subject rights under privacy laws. |
Prima Billing complies with GDPR/CCPA privacy regulations. |
Reporting & Analytics
(10 Yes /10 Known /10 Possible features)
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Standard Financial Reports Includes templates for AR aging, cash flow, payment trends, etc. |
The platform includes standard financial reports for AR aging, cash flow, etc. | |
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Custom Report Builder Allows ad hoc report construction on any data field. |
Prima Billing provides a custom report builder for ad hoc reporting. | |
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Dashboard Widgets Visual summary of KPIs and operational alerts on a live dashboard. |
The platform includes dashboard widgets for visualizing KPIs. | |
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Automated Report Scheduling Delivers scheduled reports to designated recipients. |
Prima Billing supports automated report scheduling and delivery. | |
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Real-Time Analytics Provides up-to-the-minute metrics on transactions and operations. |
The platform provides real-time analytics on billing and payment operations. | |
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Data Export Options Exports all reports and data to Excel, PDF, CSV, and other formats. |
Prima Billing allows data export in multiple formats including Excel, PDF, and CSV. | |
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Exception & Anomaly Detection Automatically identifies unusual patterns or outliers in payments. |
The platform can detect payment anomalies and exceptions automatically. | |
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Custom Alert Notifications Configures alerts to notify users about unusual conditions. |
Prima Billing allows configuration of custom alerts for unusual conditions. | |
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KPI Benchmarking Tracks and compares performance to industry or internal benchmarks. |
The platform tracks KPIs against industry benchmarks. | |
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Data Visualization Tools Includes charts, graphs, and infographics for easier data interpretation. |
Prima Billing includes data visualization tools for interpreting billing and payment data. |
Workflow Automation & Exception Handling
(9 Yes /9 Known /9 Possible features)
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Configurable Workflow Engine Enables the creation and adjustment of process workflows. |
The platform includes a configurable workflow engine for process automation. | |
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Task Assignment & Escalation Automatically assigns tasks and escalates unresolved items. |
Prima Billing automatically assigns tasks and escalates unresolved items. | |
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Exception Routing Routes exceptions (disputes, failed payments, etc.) to designated handlers. |
The platform routes exceptions like disputes and failed payments to designated handlers. | |
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Automated Approval Processes Routes requests for manual payment edits, refunds, or adjustments through approval chains. |
Prima Billing includes approval workflows for payment adjustments and refunds. | |
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Document Generation Automation Automates creation of letters, emails, or forms in response to workflow events. |
The platform automates the generation of letters and emails based on workflow events. | |
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SLA Monitoring Tracks turnaround times and notifies managers if service levels are threatened. |
Prima Billing tracks SLA metrics and alerts managers when service levels are at risk. | |
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Dynamic Business Rules Engine Allows operations to change logic/rules without IT intervention. |
The platform includes a business rules engine that allows changing logic without IT involvement. | |
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User Notifications & Reminders Sends relevant staff automated reminders about open workflow items. |
Prima Billing sends automated reminders to staff about open workflow items. | |
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Workflow Analytics Provides metrics on workflow efficiency and bottlenecks. |
The platform provides analytics on workflow efficiency and bottlenecks. |
Product & Policy Flexibility
(10 Yes /10 Known /10 Possible features)
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Multi-Product Support Manages billing for multiple insurance products (P&C, Life, Health, etc.). |
Prima Billing supports multiple insurance product types including P&C, Life, and Health. | |
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Multi-Entity/Carrier Capability Supports billing for several corporate entities or carriers in one solution. |
The platform can handle billing for multiple carriers or entities in a single installation. | |
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Custom Charge Types Defines unlimited fee/charge types (endorsements, add-ons, credits). |
Prima Billing supports custom charge types for different fees and add-ons. | |
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Effective Dating for Billing Changes Allows changes to take effect on user-specified dates (mid-term adjustments, etc.). |
The platform allows effective dating for mid-term billing changes. | |
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Short-Rate/Pro-Rata Calculations Supports varied premium calculations for cancellations and changes. |
Prima Billing supports short-rate and pro-rata calculations for cancellations and changes. | |
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Installment Plan Templates Predefines templates for common payment plan structures. |
The platform includes predefined templates for common payment plan structures. | |
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Group/Corporate Billing Supports consolidated/group billing for entities holding multiple policies. |
Prima Billing supports consolidated billing for entities with multiple policies. | |
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Adjustable Down Payment Percentages Configures minimum/maximum required initial payments. |
The platform allows configuration of down payment percentages for installment plans. | |
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Bulk Policy Updates Updates billing terms on multiple policies at once. |
Prima Billing supports bulk updates to billing terms across multiple policies. | |
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Product-Specific Rules Assigns flexible billing rules depending on insurance product type. |
The platform assigns specific billing rules based on insurance product type. |
Scalability, Reliability & Performance
(5 Yes /5 Known /9 Possible features)
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Concurrent User Capacity Maximum number of system users working simultaneously without performance impact. |
No information available | |
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Transaction Throughput Number of payment/invoice transactions processed per second. |
No information available | |
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System Uptime Guarantee Percentage of time system is available as committed in SLAs. |
No information available | |
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Disaster Recovery Time Objective (RTO) Maximum time to restore normal operations after a major outage. |
No information available | |
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Automated Load Balancing Distributes system load to avoid downtime or slowdowns under stress. |
Prima Billing includes load balancing to maintain performance under heavy usage. | |
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Automatic Failover Automatically switches to backup systems if primary fails. |
The platform features automatic failover capabilities to backup systems. | |
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Elastic Capacity Scaling Dynamically scales resources to meet demand surges. |
Prima Billing can scale resources dynamically to handle demand surges. | |
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Scheduled Maintenance Notifications Communicates maintenance events to minimize disruption. |
The platform provides notifications about scheduled maintenance events. | |
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Performance Monitoring Tools Real-time monitoring and alerts for system health and KPIs. |
Prima Billing includes real-time monitoring tools for system health and performance. |
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