Underwriting Assistance
Valence has developed a secure web-based real time underwriting tool to support the health plan’s internal marketing staff, the broker community, and underwriters in the quote generation and quote delivery process. The tool facilitates the generation of both composite and list bill quotes. It also tracks open/closed cases and generates management reports to support sales strategies. For “renewal” groups, census information from the claim engine’s eligibility sub-system is integrated into the Valence underwriting tool.
Premium Billing
Valence provides a highly efficient and flexible premium billing solution with options for combination of premiums to be billed, billing frequencies, and billing detail. Monthly, quarterly, semi-monthly, or other schedule can be created, with on-the-fly invoicing as needed. Paper invoices can include special messages or special inserts, including return envelopes and administrative forms. Clients can specify separate billing pages for each department, and define retroactive billing periods. Valence can also manage COBRA invoicing to groups or individuals, and handle COBRA administration.
Broker Commission Management
Whether broker commissions are based on contract or a percentage of the premium, Valence systems and technology ensure accuracy in calculating and tracking. Detailed statements are generated that assist the broker with record keeping. Direct deposit is available for brokers who prefer to receive their payments electronically.