Set up Billing Lifecycle for new and renewal business

Via settings, clients can set up billing scenarios that meet their business needs.

New/renewal invoice printing

Some clients print the first invoice of a new business or renewal policy even if nothing is due. A setting overrides the Do Not Issue a Bill If the Amount Due is Less Than setting so that the first invoice of the term always prints. To enable:

  1. Navigate to Settings > Modules > Policies > Policy Lifecycle > Billing > Options.
  2. Check the Print Initial Invoice Irrespective of Amount Due and/or Print Renewal Invoice Irrespective of Amount Due settings.

Billing at renewal

Send a reminder instead of a cancellation

The standard workflow is for BriteCore to issue the Notice of Cancellation, Non-Payment of Premium on every invoice that is unpaid. A setting replaces the Notice of Cancellation, Non-Payment of Premium with a separate Reminder Notice – Renewal Billing Offer. With this workflow, the renewal is essentially non-renewed rather than canceled.

To use this behavior:

  1. Navigate to Settings > Modules > Policies > Policy Lifecycle > Non-Pay > Renewals.
  2. Check the For Renewals, Send the “Reminder Notice – Renewal Billing Offer” in Place of the “Notice of Cancellation, Non-Payment of Premium”setting.

Cancel flat

When a new business policy or renewal is issued but unpaid, some clients treat it as if the policy was never issued. A setting allows for this behavior by canceling the policy flat against the initial and renewal invoices.

To enable:

  1. Navigate to Settings > Modules > Policies > Policy Lifecycle > Non-Pay > Renewals.
  2. Check the For new business and renewals, cancel the policy flat against the Initial/Renewal Billing Statement regardless of the invoice due date (i.e. even if the policy is issued late) setting.

Unpaid invoices

Global non-pay timeline

Set the number of days between the date the invoice is due and the date the policy will cancel via the Length (in Days) of Non-Pay Cancellation Pending setting in Settings > Modules > Policies > Policy Lifecycle > Non-Pay > Length.

This setting is applied to all unpaid invoices, unless the above For renewals, the Length (In Days) of the Cancellation Pending Notice setting is used for renewal invoices.

Changes to the global non-pay timeline

The global non-pay timeline can be:

  • Adjusted for renewal invoices specifically.
  • Adjusted based upon a particular category value.

Renewal invoices

The non-pay timeline can be adjusted for renewal invoices specifically. If a client uses the above For Renewals, Send the “Reminder Notice…” setting the “non-pay” timeline can be made separate from the non-pay timeline used during the term for installments.

To enable the For Renewals, the Length (in Days) of the Cancellation Pending Notice setting:

  • In Settings > Modules > Policies > Policy Lifecycle > Non-Pay > Renewals, select For Renewals, the Length (in Days) of the Cancellation Pending Notice.

Particular category value

The non-pay timeline can be adjusted based upon a particular category value. For example, a different non-pay timeline can be used if the occupancy of the policy is owner- versus tenant-occupied.

To use this behavior:

  • Check and complete the Unless policy category < > has option < > selected, then use < > days in Settings > Modules > Policies > Policy Lifecycle > Non-Pay > Length> Length (in Days) of Non-Pay Cancellation Pending.

Note: Applied to renewals, this new setting doesn’t take precedence over the Length (In Days) of the Cancellation Pending Notice.

Examples:

Setting set to 0: The invoice is due on 7/1; the policy enters Cancellation Pending for Non-Payment of Premium at 12:01 a.m. on 7/1.

Setting set to 1: The invoice is due on 7/1; the policy enters Cancellation Pending for Non-Payment of Premium at 12:01 a.m. on 7/2.