FAB Billing
What is FAB?
The Java-based FAB billing system is the market leader when it comes to handling the complexities of premium billing. FAB supports personal and commercial lines of business in any combination: agency, account, and group/special billing, even with different effective and expiration dates.
What does FAB do?
Users have online, real-time capabilities for processing functions. System features include:
- Agency Reconciliation
- Electronic viewing and payment optional
- Application Tracking
- Checks Pending -- a staging area for check request export
- Receivable Processing
- Cash Processing
- Electronic Funds Transfer (EFT)
- General Ledger
- Many Standard Reports
- Notes
- Work Manager for the attachment of Reminders
... and much more. The system supports personal and commercial lines of business in any combination: agency, account, and group/special billing, even with different effective and expiration dates.
Installment notices provide detail of all activity on an account. FAB offers adjustable due dates. Table definitions determine the type and frequency of billing notices.
What benefits will FAB provide?
One of the most important advantages you get from FAB is flexibility. FAB handles different bill types, payment methods, and pay plans. In addition, you can create billing plans quickly and easily for new insurance products.
Since most policyholders communicate with their insurer only when they have a billing problem or a claim, FAB’s accuracy is critical … and it delivers reliably every day at insurance companies across the nation.
Contact us for more information on FAB.
