Duck Creek Billing

Create a vendor selection project & run comparison reports
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.

Overview

At its core, Duck Creek Billing enables P&C carriers to improve operational efficiency through automation and data access, improve financial return through multiple payment collection methods, and delight customers by offering flexible payment options, real-time notifications, access to billing data, and the ability to manage their billing account via consumer portals.Duck Creek Billing’s advanced technology, automation, and powerful configuration allows greater control over billing processes and better management of payment collections. Though Duck Creek Billing is pre-integrated with Duck Creek Policy, Duck Creek Billing can integrate with any non-Duck Creek Policy or Claims system creating a more efficient and effective billing department that’s able to provide faster customer service and respond to changing business needs. Running Duck Creek Billing in conjunction with Duck Creek OnDemand (SaaS) provides carriers with an industry leading billing solution running on an industry leading SaaS platform.

Key Features

In general, Duck Creek Billing supports the entire billing lifecycle with the ability to design payment plans, track and process their payables and receivables, and follow-up with customers.

Key features include:

Payment plan management - Duck Creek Billing supports carriers in configuring, without IT intervention, payment plans and options that uniquely meet customer, agent, and broker needs. Installments can be customized or automated for different types of customers or markets and overridden as exceptions arise.

Payments processing - Duck Creek Billing offers payment processing for the most common payment methods including eCheck and auto-pay from bank account or card, or by payroll deductions. Carriers have the flexibility to decide how control how and when these payments and disbursements are allocated, suspended or reapplied with capabilities like account or individual bill.

Customer follow-ups - Duck Creek Billing provides carriers with the capabilities to reach out to customers to ensure payments are received and avoid delinquency. Rules can be defined to trigger reminders and notices, penalties for late payments, reinstate payments, or rescind any of these actions once payments are received.

Commissions - For agents and brokers, Duck Creek Billing supports the ability to calculate, disburse, and report commission payments via both Agency Bill and Direct Bill. Duck Creek Billing will also recover commissions in cases of returned premium transactions and cancellations.

Key Benefits

Improve customer satisfaction

Duck Creek Billing simplifies billing for customers (agents, brokers, and policyholders) and provides them with the ability to engage with carriers via their preferred channels, digital or otherwise. This combined with improvements in customer service that are driven by reduced call center wait times and CSRs that are better equipped with relevant information results in improvements in customer satisfaction.

Increase operational efficiencies

Duck Creek Billing reduces expense ratios by automating billing processes, streamlining workflows and consolidating multiple systems into one enterprise solution. Core operational performance is improved by providing faster responses to inquiries, running significantly higher volume workflows when need.

Improve bill collection rates

Customer centric payment plans and options enable carriers to increase the ease of collecting revenue and reduce delinquency rates. Duck Creek Billing provides carriers with the ability to develop payment strategies that are aligned to ideal customer journeys and fully meet policyholder financial requirements.

Product/Service details