Overview
The Billing Schedule Selection setting allows agents and underwriters to choose a billing schedule for a policy directly on the Rating screen. Billing schedules determine how and when policyholders are invoiced for premiums (e.g., monthly, quarterly, semi-annual, or annual).
When enabled, this setting ensures:
- The premium calculation reflects the selected payment plan.
- Agents can set billing schedules up front, reducing the need for re-rating later.
- Carriers can incorporate the chosen payment method into their rating algorithm.
Benefits
- Accuracy – Premiums align with the selected billing schedule.
- Efficiency – Avoids re-rating when billing preferences change.
- Transparency – Clear billing expectations are set at the time of quote.
- Error Reduction – Minimizes discrepancies between quoted premiums and billing setup.
Administrator Configuration
Enable billing schedule selection
- In the BriteCore menu, select Lines > Effective Date > Policy Type.
- Confirm that Use billing schedule for rating is enabled.
Configure lifecycle billing schedules
- In the BriteCore menu, select Settings > Modules > Policies > Policy Lifecycle Settings.
- Configure which billing schedules (e.g., Monthly, Quarterly, Annual) are available for each line of business or product.
- Save changes.
User Experience (Agents & Underwriters)
Once an administrator has enabled billing schedule selection and configured lifecycle billing schedules:
- Navigate to the Rating screen of the policy.
- From the Billing Schedule dropdown, select the desired option.
- Complete the rating process as usual.
Note: This feature is available in both the Quoting Wizard and the Administrator’s Policy View.
The selected billing schedule will automatically be applied to the policy’s billing setup and premium calculation.