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This workflow template illustrates the review of recently on boarded insurance policies and the subsequent setup of payment methods for the policyholder(s). This process includes the setup of automated billing, as well as paper billing setup and invoice transmission. Purchase and download this template in PDF, Visio and PowerPoint formats, and customize it to fit your organization, or use it to better understand the Premium Accounting process.Download a Free Sample of this Workflow Template
What is Premium Accounting?
Premium accounting is the review of recently on boarded insurance policies and the subsequent setup of payment methods for the policyholder(s). Any account issues, whether originating from the policy or the policyholder, is taken care of at this time. This process includes the setup of automated billing, as well as paper billing setup and invoice transmission. Should payment not be received by the company, this process also ensures the policies are cancelled.
Which KPIs, or metrics, are typically used to measure this process?
The following metrics are typically involved in the Premium Accounting process:
Which employees and/or departments are involved in this process?
The following parties are typically involved in the Premium Accounting process:
What is the purpose of these workflow templates?
Broken business processes pervade companies, large and small. Manual workarounds, downtime, errors and other waste is thought of as "the cost of doing business." Use our workflow templates as a starting point to document your own processes. Customize them to fit your business and add "call outs" for improvement opportunities.
How are these workflow templates created?
These workflow templates are the product of over 20 years of hands-on management consulting experience, as well as research performed by the OpsDog team. All of our workflows are mapped using the BPMN 2.0 specification.
How do I download a workflow template?
Simply click the "add to cart" button and follow the process to purchase and download this workflow template. You can use any major credit card, or a PayPal account, to pay. After you have completed the purchase, you will receive a link to immediately download the document in PDF, Visio and PowerPoint formats. If you aren't a registered OpsDog user yet, create a free account! New users get $20 off of their first purchase.