The Problem:

For an independent insurance agency selling several distinct products from a number of different insurance carriers, billing can be a nightmare. A sale of insurance coverage to a company can easily mean the addition of a thousand insureds. Each insured may take more than one policy, i.e., medical, dental, life, etc. Additionally, we may charge an administrative fee for handling certain types of insurance and when we do, we charge it for an administrative unit where a unit can be a family or some other logical division of insureds, i.e., a trucking partnership. Finally, each insurance carrier handles their billing differently--as this was written, there are 17 different billing types built into the software, and we fully expect to need to add others as time goes by. So, take 20,000 insureds working for 250 companies, give them all different mixes of insurance, and allow for the normal personnel churn these companies experience, and you can begin to get a picture of the problem? How much to bill the Company? How much to send to the insurance carrier? How much are we due back from the insurance carrier? How much do we keep as our administrative fees?

Finally, we must add a final element to the problem in that we have a number of sales people out there pitching our products. These sales people are paid, by one of several calculations, a commission amount for each insured they deal with. So after we have calculated the billing information above, we must also calculate how much to pay our sales people for their efforts.

What this sofware does:

In short, the software allows your office to quickly and easily generate billing statements and lets you know your receivables situation at any moment in time.

The ITSBITS software uses a Microsoft SQL Server® database to store the information it needs to do our monthly billing and payment calculations. The software itself is written using the Microsoft .NET® technology.

The database stores all of the information we need to perform monthly billing calculations and the software provides the means to enter the information into the database tables for storage. Monthly, the software can pass through the stored data and do the necessary calculations to determine amounts to bill the Company and to pay the insurance carriers and sales people. These amounts are stored in the data base and maintained, most for 36 months, so that auditing can be done at later dates if required. Finally, using the Crystal Decisions Crystal Reports® engine, the software generates the billing and payment reports you need. Several different billing formats are included, so you can actually use one format for one company and a different format for another company.