Unified solution for premium billing, collection, disbursement and reconciliation challenges
RESTON, VA, JUNE 3, 2015 – hCentive, the leader in health insurance exchange solutions, today announced the launch of its WebInsure™ Financials solution for insurance carriers and exchanges. WebInsure Financials solves the billing, payment and cash management challenges in the post-reform health insurance market with a comprehensive approach that covers all aspects of billing, collection, disbursement, reconciliation and treasury management.
WebInsure Financials comprises two software products – WebInsure Payments and WebInsure Billing. WebInsure Payments simplifies online bill presentment, payments and premium collections with an engaging and easy to use solution. WebInsure Billing extends this with premium bill generation, accounts management, cash management, disbursement and reconciliation. Additionally, WebInsure Financials integrates seamlessly with other products in the WebInsure suite for health benefits shopping, administration, exchange enrollments and billing options.
- WebInsure Financials provides consolidated billing for a variety of medical, dental, vision, life, accidental death & dismemberment (AD&D), long term disability (LTD) and other ancillary plans from multiple insurance carriers for a simplified and seamless experience. Customers view a single bill with payment options designed to suit specific market demographics.
- WebInsure Payments product enables an exchange or insurance carrier to extend the in-house billing process with a customer friendly and automated payments solution. WebInsure Billing product helps carriers and exchanges that are setting up new lines of business, participating in new health insurance marketplaces or augmenting in-house billing process with a rules based, configurable, end-to-end automated billing system.
- Both products provide dynamic dashboard-based reporting that offers insurance carriers and exchanges full insight and transparency throughout the billing, payment, reconciliation and disbursement process.
- The products offer built-in capability to process payments, print and mail invoices and enable a lockbox where needed. Plug-and-play interfaces allow for changing any pre-built connection with custom or direct integration.
Prabhakar Ram, Senior Vice President and Head of Products, hCentive, Inc.
“With growing healthcare consumerization and options available in the market, insurance carriers and exchanges need to increase engagement with customers and respond to changing needs and demands. WebInsure™ Financials bridges the gap between market needs and what the back-office is designed to deliver, thus improving customer satisfaction, reducing call center volume, and allowing the back-office to react quickly. Carriers and exchanges now have a choice to deploy a solution in steps and get started without all the infrastructure, to meet current needs as well as scale for the future.”
At hCentive, our mission is to empower everyone to gain access to health benefits. We are a leader in public and private exchange solutions that simplify the distribution and management of health insurance and ancillary benefits. Our WebInsure™ solutions fully support government agencies, insurance carriers, and brokers as they engage consumers and businesses and offer transparent access to benefits choices. Our innovative technologies deliver an integrated online benefits shopping and enrollment experience that is convenient and available anytime and anywhere.