OneShield, a provider of policy and billing core systems for property and casualty insurers, announces the availability of Dragon Billing, a comprehensive billing, payables and receivables management solution for both direct and agency bill.
Developed with client and insurer feedback, it enables insurers to deliver process efficiencies, speed to value. and customer service with the extensible toolset of OneShield Dragon.
Dragon Billing handles the full billing lifecycle from billing instruction to close, and manages direct and agency billing across all lines of business. Automation of commissions, exception handling, promise and delinquency processing, carry forwards, write-offs. and refunds are just a sample of Dragon Billing's functionality.
With Dragon Billing, insurers can provide customers flexible billing options, payment plans, and features like tasks to help resolve customer issues quickly and easily.
"By offering Dragon Billing, OneShield expands its product offering to better meet the growing needs of the insurance industry," says Karen Furtado, partner at Strategy Meets Action. "This commitment to product investment and expansion demonstrates OneShield's commitment to deliver high-value solutions to the insurance industry. Dragon Billing provides exceptional billing customer service capabilities that will allow insurers to have a distinct competitive advantage in the marketplace."
Dragon Billing delivers:
Process efficiencies—Dragon Billing automates multiple processes, such as the delinquency process and exception handling, and additional process improvements can be made with Dragon Billing's workflow and business rules capabilities. Dragon Billing's user interface allows for making changes any time to improve payment processing, disbursements, shortfall management, and commissions. Insurers are able to leverage equity-based dating to reduce uncollected earned premium.
Speed to value—The open architecture of the Dragon toolset enables carriers to respond to the changing needs of the market and the growing demands of their customers to help them win in the markets they want to serve. Dragon Billing's configuration tools reduce the need for an insurers' IT staff to make changes, such as adding new billing or payment plans. Such modifications can be made by a business analyst.
Enhanced customer and agent services—Insurers can invoice customers the way they want to be billed and make changes to payment plans and methods in real time at any point in the billing cycle. Several payment plan options can be supported, which boosts customer retention efforts. Additionally, agents gain access to real-time information all in one place. Dragon Billing's portals for customers, agencies, brokers, and reinsurance companies reduce friction between all participants in the billing and collections processes.
"We made it our goal to build Dragon Billing to be a system that would help insurers put the customer first," says Steve Forte, director of product management and alliances for OneShield. "To do that effectively, we worked closely with a network of insurers to gain insight and valuable input that helped us design Dragon Billing to meet their needs today and in the future. By giving them the flexibility to allow their customers to choose their billing and payment plan options, they can provide better support, gain operational efficiencies and decrease processing costs related to invoicing, payments and receivables management."
Dragon Billing is built on OneShield's Dragon platform and is designed to be implemented as astandalone solution or with Dragon Policy. Dragon's billing and policy share a common data model, database, architecture, and toolset along with partner management. There is no integration required between the two solutions, reducing implementation costs, risks, and time to production.
"We are proud to deliver a fully-integrated policy and billing solution that works together seamlessly to better service the needs of the market," says Glenn Anschutz, CEO and president for OneShield. "By adding a comprehensive billing platform as the next logical extension of our extensible Dragon Policy solution, we are allowing our customers to lower their cost of ownership by leveraging one tool to configure both applications."
