(Detail of mural created by artist Eric Grohe for the City of Bucyrus, Ohio, home of Ohio Mutual.)
Ohio Mutual Insurance Group (Bucyrus, Ohio) has selected CSC’s (Falls Church, Va.) Premium Billing 360° (PB360°), the vendor’s billing software for P&C carriers, life and annuity companies, and health insurers. Ohio Mutual will use the software, which processes all insurance bill types and lines of business across all distribution channels, to expand its business by bringing new offerings to market, enhancing competitiveness and customer intimacy, and accelerating profitable growth, CSC reports.
“We were seeking a modern, enterprise-wide billing solution that could interface with our existing systems to streamline internal processes and lower operating costs,” comments Todd Albert, VP, Information Systems, Ohio Mutual. “PB360° is a function-rich, configurable and scalable solution that will enable us to roll out new billing plans quickly and cost-effectively for all of our product lines and in all of the states in which we do business.”
CSC describes PB360° as a real-time system available 24×7 via Internet browser or mobile apps that interfaces with any policy administration solution regardless of platform or industry. Ohio Mutual’s implementation of the system will enable the carrier to provide multiple billing and payment options that can be deployed in weeks rather than months, the vendor asserts. The software offers more than one hundred different configuration points, enabling users to add new plans, retire old ones and make other changes without IT involvement, thereby reducing cost, according to CSC.
The vendor says that PB360° supports accurate and detailed producer management and commission processing, and it enables both automatic and on-demand correspondence. The system provides numerous standard operating reports and stores transactional data in a relational database for additional reporting purposes. Users can create customized reports with the optional Business Analytics component or other reporting tools. The system’s Media Management component provides a consolidated view of each customer’s billing and payment history, including an archived image of the actual invoice.
Customer Service Differentiator
“A carrier’s most frequent touch point with customers, billing has become a differentiator for insurers and their agents in all lines of business,” comments Phil Ratcliff, VP and general manager for CSC in Insurance. “Developed in collaboration with the nation’s leading insurance companies, PB360° enables carriers to improve customer satisfaction, lower billing transaction costs and improve operational efficiency while embracing growth opportunities in additional states and markets.”
PB360° can be deployed on a software-as-a-service (SaaS) basis, on the cloud or on-premise, according to CSC. The systems open architecture separates the presentation, application integration and business services tiers, allowing companies to easily extend the system to meet business needs, the vendor says.