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Billing and Accounts Receivable for Insurance Carriers

Insurance carriers are in the service business and help millions of clients each day protect their businesses and personal assets. However, insurance carriers are companies still, and companies are always searching for innovative and efficient ways to bring in more cash flow into their businesses. What a lot of these insurance carriers are overlooking or do not know, is that they are potentially sitting on a gold mine already; their current billing and accounts receivable.

Why Hire an Expert for Accounts Receivable Billing?

Each month, insurance carriers invoice thousands of clients for items such as the adding of riders, direct bill invoicing and adding an additional insured to a certificate of insurance and more. With this large volume of invoices flying out the door, it could be difficult for an insurance carrier to keep up with this rigorous schedule, follow up on and receive timely invoice payments.

Flatworld Solutions has been in the business office solutions arena for 10 years and has helped carriers from all over the world with their billing and accounts receivable process. From assisting them with items such as sending reminders and payment reconciliation, our business model has been tested and proven. We assist insurance carriers and shine a bright light on billing and accounts receivable and help them get back cash flow that belongs to them. We do this through a pin-point accurate accounts receivable process. When insurance carriers have worked with us to manage their accounts receivable billing process, most of them have seen a substantial increase in their revenue by this step alone.

Services we offer - Billing & Accounts Receivable

  • Ensuring accurate and timely delivery of invoices
  • Sending reminders/follow up for timely collection of payments
  • Receiving and recording payments
  • Reconciliation of accounts receivable and reporting
  • Maintaining archives as per the needs
  • Financial reporting for top management
  • Accurate billing and accounts receivable management

How Do We Process Billing and Accounts Receivable?

With over a decade of experience in helping insurance carriers with specialized business solutions needs, Flatworld has perfected our account receivable management business model. We are keenly focused on the accuracy and the timely invoicing of our carrier's clients to help them have amazing books come tax season, and to bring in more cash flow immediately.

In this business, you are only as good as your accounts receivable software is, and therefore, we ensure using only industry leading software. Our team of highly trained account representatives is trained at leveraging popular software such as Intuit QuickBooks, M.Y.O.B, Sage, CheckMark, Multiledger, etc. to name a few.

Speaking in the same vernacular, our account representatives can merge this industry leading software into major financial systems that are accepted globally. Some of these systems are, but not limited to:

  • Sap
  • JD Edwards
  • Oracle
  • Peoplesoft
  • Lawson

Benefits of Outsourcing Billing and Accounts Receivable to Us

One of the major benefits we give back to all our carrier clients is reconciliation of account receivable. This in turn, creates an influx of cash flow, which was not previously there, back to the carrier. Flatworld has become one of the world leaders in global business office solutions for insurance carriers. We have done this by creating a proven, world-class billing and accounts receivable business model that maintains costs and is seamless for a carrier to adopt.

Flatworld helps a carrier streamline their accounts receivable process and assist the carrier in taking back control over their expense ratios. More times than not, when a business is looking for ways to bring in more capital to the company, a concentrated focus on their invoicing and late invoices could be the answer to many of their cash flow issues.

Our billing and accounts receivable system ensures accurate and timely delivery of all invoices, print and electronic. This will assist in getting invoices located and paid.

Outsourcing Benefits

  • Substantial Cost Reduction
  • Efficient Operations
  • Quick Turnaround (between 30 minutes to 4 hours depending on processes)
  • Round-the-clock Service
  • Improved Quality & Happier Customer
  • Scalability for Business Growth

Hire Us for New Business Accounts Receivable Management

In today's business world, cyber security issues are on the front page of every newspaper. For 10 years, Flatworld Solutions has been taking client data serious and following all of our protocols we have in place to safeguard sensitive billing and accounts receivable data. When a carrier partners with us, we show them each day that we are more than capable of handling very sensitive data. We have IT systems in place to ensure secure handling and processing of client information. We are also equipped to handle large request for billing and accounts receivable tasks 24/7. We work around the clock, so our carriers do not have to.

Flatworld Solutions - Your primary partner for outsourcing billing and accounts receivable. Contact us today, we will be glad to assist you with any of your requirements.