Insurance Suites Software Resources

Articles, Glossary Terms, and Discussions to expand your knowledge on Insurance Suites Software

Resource pages are designed to give you a cross-section of information we have on specific categories. You'll find articles from our experts, feature definitions, and discussions from users like you.

Contents

Insurance Suites Software Articles

What Is Insurtech? Terms, Benefits, and Definition

The sweeping arm of digital transformation has cast aside normal operating procedure and catalyzed technological innovation in the insurance industry.

by Patrick Szakiel

Insurance Suites Software Glossary Terms

Insurance Claim

An insurance claim requests reimbursement for insured damages during unforeseen events. Learn more about the types, benefits, and how to process claims.

by Sagar Joshi

Explore our
Technology Glossary

Browse through dozens of terms to better understand the products you purchase and use everyday.

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Insurance Suites Software Discussions

Question on: Applied Epic

What is the best way to implement Best Practices for reports on renewal and new business retention?

We really need to track our new business and renewal retention and would like any help you may have on this issue!

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If you forward to me your email address I can send to you the Criteria that I use for both.

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Answered: Tina Balkema on October 1, 2020

Renewal Manager, is a great asset

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Answered: Mary Pientka on February 15, 2021

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Question on: Applied Epic

Accounting - Does your agency reconcile direct bill commission statements?

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yes

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Answered: Mary Pientka on February 15, 2021

We changed to recording direct bill rather than reconciling about two years ago. It has been much more efficient for our accounting department. We have set up reports to catch any policies that don't make our statements as our check and balance.

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Answered: Julie Jennings on March 3, 2020

We used to; but changed over 10 years ago to recording direct bill only. We found that the carriers make very few mistakes on commission payments. Less than our staff does when invoicing direct bill. We run a direct bill transaction report after a statement is entered to make sure the statement balances to the transactions entered.

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Answered: Lori Merriman on March 3, 2020

We do. Feel free to reach out if you have questions. ashleyp@fourniersolutions.com

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Answered: Ashley Pullen on May 28, 2020

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Question on: Applied Epic

Is there a way to add taxes and fees so that it carries over into the invoicing section?

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Taxes and fees are processed as transactions to a policy. You can add custom transactions in Configure>Accounting>Transaction Codes.

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Answered: Lori Merriman on November 15, 2019

You can't set a standard fee/ tax that will always carry over into an invoice if that is what you are looking for. In our system we have CTAX - Company Tax and CFEE - Company Fee that are transaction codes that we add to the transaction for those items.

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Answered: Samantha Smith on January 9, 2020

It is an invoice line item as any separate charge. However, if you are referring to surplus lines tax that the AGENCY is responsible for collecting, filing and paying, you can set it up as a government tax in configuration, which is usually a percentage of the premiums and fees and then you assign the tax to the premiums and fees.

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Answered: Lori Merriman on January 9, 2020

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