What makes a good outsource partner?

It’s important to understand what to look for when selecting a third-party partner to manage captive premium finance company or installment billing services for your insurance operation.

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Technology
  • Cloud-based production and disaster recovery applications provides the assurance that your data is well protected and available in the event of business disruption.
  • SOC-1 type 2 annual audit.
  • AIS is PCI level 2 NACHA compliant as a third-party servicer.
  • Routine vulnerability scans.
  • Third-party internal and external penetration testing.
  • Full suite of API integration, flat-file, and web-based portal solutions to facilitate the transfer of data required for your premium finance company or billing.
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Customer Service/Operations
  • Seasoned back-office operations to handle the day-to-day management of your premium finance company or billing program.
  • Payment processing.
  • Issuance of all statutory notices, and return premium follow up in the event a policy cancels for non-payment of premium.
  • Tax-ready year-end financial reporting.
  • Regulatory compliance services.
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Accounting
  • Seasoned back-office operations to handle the day-to-day management of your premium finance company or billing program.
  • Dynamic and Month-End financial reporting is accessible 24/7.
  • DDA and Operating account management/reconciliation.
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Payments
  • Down payment and full premium payment processing.
  • Auto enrollment for AutoPay.
  • Commission management/disbursement.
  • 24/7 online and phone payments.
  • Traditional payments through AIS’ lockbox service.
  • Live operator payment during normal business hours.

What makes a good outsource partner?

It’s important to understand what to look for when selecting a third-party partner to manage captive premium finance company or installment billing services for your insurance operation.

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Proprietary technology designed specifically for premium financing programs and installment billing programs with a partner that can customize to meet your needs.

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Comprehensive expertise covering legal/ regulatory services, program design and management of your captive premium finance company.

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Disaster recovery/ business continuity plan that includes a full off-premises back-up system.

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Commitment to quality with strong internal controls supported by a SOC-1  (Type 2 Report).

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A proven track record and strong reputation with customers and regulators.

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Access to an integrated funding source to fund the premium finance operation.

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