Ravello Solutions, a provider of insurance software, has announced the release of Ravello Billing, which offers the insurance industry an end-to-end billing solution.Built on a flexible, standards-based architecture, Ravello Billing is an extension of Ravello Policy and Claims. While the system can be purchased and implemented on a stand-alone basis, the entire billing process is seamlessly integrated into the Ravello Policy and Claims modules. This assures all aspects of a policy's life-cycle and billing events are tracked and logged.

A feature of Ravello Billing is the ability to change billing options quickly. Authorized billing personnel can modify billing configurations in real time. The system can handle out-of-sequence retroactive billing, which allows insurance companies to collect earned premium on out-of-sequence endorsements. This ensures all earned premium is billed and collected, preventing insurance companies from having to report earned and uncollected premium to regulators.

Additionally, the system's design allows insurance company professionals to drill down on billing accounts to the policy level quickly and easily, thereby enabling rank and file billing representatives to field questions that normally take hours to research.