Capital Insurance Expects BillingCenter to Deliver Responsiveness, Retention and Growth

CIG will use the solution to manage billing operations, including agency and direct billing, across all lines of business and expects the improvements the system brings to foster customer retention and new-business growth.

Seeking to be more flexible responsive to the billing preferences of its agents and policyholders, Capital Insurance Group (CIG, Monterey, Calif.) has selected Guidewire’s BillingCenter. CIG will use the solution to manage billing operations, including agency and direct billing, across all lines of business and expects the improvements it brings to foster customer growth and retention.

CIG chose to modernize its billing technology platform in order to increase its flexibility, enable business users to make modifications to payment plans and more easily make system changes. Factors that influenced the regional P&C carrier’s choice of billing center include comprehensive functionality, configurability, ease of integration and an intuitive user interface.

Making changes to CIG’s legacy billing system was a time-consuming and complex process owing to the complexity of its architecture, according to Rads Mydam, CIO, VP, IT. “We are looking forward to being able to more easily make changes,” he comments. “When we ultimately upgrade the system, we foresee the process going quickly and smoothly, given BillingCenter’s highly configurable platform.”

In addition to managing billing operations, BillingCenter will also help CIG to manage commissions calculations and payment. Key benefits the solution will bring to CIG include providing fast, accurate service to customers and agents, tailoring payment practices and methods to customer preference, and giving the insurer the ability to more easily modify the system to meet changing business and technical requirements, according to a Guidewire Statement.

Gray Tyndall, CFO, Capital Insurance Group.

Gray Tyndall, CFO, Capital Insurance Group.

These benefits will not only improve the way CIG manages billing, but will also drive greater retention and growth, according to Gray Tyndall, CFO, CIG. “The seamless billing process and enhanced customer experience that BillingCenter will bring will positively affect our customer retention rate,” Tyndall asserts. “From a new-business perspective, BillingCenter will help us give potential customers, as well as new targeted segments, more billing options, letting them choose their payment schedule as well as how they receive and pay bills.”

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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