EbixASP

Additional features

5 Level Hierarchy for Agency Structure

Supports a five-level hierarchical structure within the system, likely designed to mirror the organizational structure of larger agencies, allowing for tiered access, management, and reporting based on roles and responsibilities within the brokerage.

Contact Management for Stakeholder Relationships

Manages comprehensive contact information for all relevant parties, including clients, insurance carriers, producers, and vendors, facilitating communication and relationship tracking within the insurance ecosystem.

Client Identified Risks Documentation

Enables users to document and record specific risks identified for each client, allowing for a more tailored approach to risk assessment and coverage recommendations based on individual client profiles.

Policy Detail Management for Comprehensive Records

Provides tools to manage and store extensive details for each insurance policy, including coverages, premiums, terms, and conditions, ensuring a centralized repository for all policy-related information.

ACORD™ Forms (PDF format) for Industry Standard Documentation

Offers support for industry-standard ACORD forms in easily shareable PDF format, streamlining the creation and management of insurance documents and ensuring compliance with industry norms for forms and data exchange.

Multi-Profit Center Endorsement Log for Tracking Changes

Maintains a log of endorsements across multiple profit centers within an agency, enabling detailed tracking of policy modifications, ensuring accurate commission allocation and performance analysis across different business units.

User Definable Screens for Interface Customization

Offers the ability to customize user interface screens, allowing agencies to tailor the system's display and data entry fields to match their specific workflows and data management preferences, improving user experience and efficiency.

Personal and Commercial Lines Download Capability

Supports the download of data related to both personal and commercial lines of insurance, facilitating data analysis, reporting, and integration with other systems for a holistic view of agency performance across different insurance sectors.

Rating Integration for Automated Premium Calculation

Integrates with external rating services to automate insurance premium calculations, ensuring accuracy and efficiency in quoting and policy issuance by directly connecting to industry-standard rating engines.

VIN Verification for Vehicle Data Accuracy

Includes VIN (Vehicle Identification Number) verification functionality, primarily for auto insurance lines, to ensure accurate vehicle information capture, reduce errors in policy details, and streamline the quoting process.

Brokered Insured Handling for Brokerage Business

Specifically designed to handle insurance scenarios where the agency acts as a broker, managing policies and transactions on behalf of multiple insurance carriers, supporting the workflows of brokerage houses.

Accounting Features (Financial Management)

Multiple General Ledgers for Segregated Accounting

Supports the management of multiple general ledgers, allowing for the segregation of accounting data for different business units, insurance lines, or reporting requirements, enhancing financial control and reporting granularity.

Client Level Invoicing for Individual Customer Billing

Enables the generation of invoices at the individual client level, providing clear and itemized billing statements for each customer, improving transparency and facilitating client payment management.

Multiple Policy Invoicing for Consolidated Billing

Allows for the consolidation of invoices across multiple policies for a single client, simplifying billing for clients with several policies and streamlining payment processing for agencies.

Automatic Download Invoicing for Efficiency

Automates the invoicing process by leveraging downloaded policy data, reducing manual data entry and ensuring timely and accurate invoice generation, especially for high-volume transactions.

Gross and Net Invoicing Options for Flexible Billing

Supports both gross and net invoicing methods, accommodating different commission structures and billing arrangements between agencies and carriers, providing flexibility in financial transactions.

User Definable Installment Billing Schedules

Offers customizable installment billing schedules, allowing agencies to set up flexible payment plans for clients, catering to various payment preferences and improving premium collection rates.

Transaction Log for Auditing and Financial Tracking

Maintains a detailed transaction log of all accounting activities, providing a comprehensive audit trail for financial transactions, ensuring compliance, and facilitating reconciliation and financial analysis.

Client Receivables Management for Outstanding Payments

Manages client receivables, tracking outstanding payments from clients, generating aging reports, and facilitating collection processes to maintain healthy cash flow.

Broker Receivables Management for Commission Tracking

Manages broker receivables, specifically tracking commissions owed to the agency from insurance carriers, ensuring accurate commission collection and reconciliation of carrier payments.

Producer, Carrier & Vendor Payables Management

Manages payables to insurance producers (agents), insurance carriers, and other vendors, streamlining the disbursement process and tracking expenses related to sales, commissions, and operational costs.

Journal Entry Import for External Accounting Data

Allows for the import of journal entries from external accounting systems or spreadsheets, facilitating data integration and enabling agencies to consolidate financial data from various sources into EbixASP's general ledger.

Split Billings Functionality for Shared Premium Arrangements

Supports split billing arrangements, accommodating scenarios where premiums are divided between multiple parties, such as co-brokers or shared policies, ensuring accurate billing and revenue allocation.

Split Payables Functionality for Shared Expense Allocation

Supports split payables arrangements, enabling the allocation of expenses across different departments, profit centers, or cost categories, providing detailed expense tracking and financial analysis.

Surplus Lines Tax Subsystem for Compliance

Includes a specialized subsystem to manage surplus lines taxes, automating the calculation, tracking, and reporting of these specific taxes, ensuring compliance with regulations for surplus lines insurance.

Finance Company Integration for Premium Financing

Integrates with finance companies that provide premium financing options to clients, streamlining the process of offering and managing premium finance agreements, and facilitating payment processing through financing partners.

Live General Ledger/Subledger Posting for Real-time Financials

Provides live posting to the general ledger and subledgers, ensuring that financial data is updated in real-time across the system, offering up-to-date financial visibility and enabling timely reporting and analysis.

Comprehensive Accounting and GL Reporting Suite

Generates a wide range of accounting and General Ledger (GL) reports, including Profit & Loss statements, balance sheets, income and expense details, and other financial reports necessary for business analysis, regulatory compliance, and management decision-making.

General Administration Features (System & User Management)

Automatic Follow-ups for Task Management

Automates follow-up reminders and task assignments, ensuring timely completion of tasks related to clients, policies, and renewals, improving workflow efficiency and reducing missed deadlines.

Cell Phone Appointment Notification for Mobile Workforce

Sends appointment notifications directly to user cell phones, enhancing communication and scheduling for agents and staff who are often mobile or working remotely, improving responsiveness and client interaction.

Transaction Log - Client, Carrier, Accounting for Audit Trails

Maintains comprehensive transaction logs across client interactions, carrier communications, and accounting activities, providing detailed audit trails for compliance, security, and historical record-keeping across all key system areas.

File Attachments at Any Level for Document Centralization

Allows users to attach files at various levels within the system (client, policy, claim, etc.), creating a centralized document repository, improving organization, and facilitating easy access to relevant documents for all stakeholders.

Live Help Feature for Real-time Support

Offers a live help or support feature, potentially through chat or remote assistance, providing users with immediate access to support resources and troubleshooting assistance directly within the application.

Online Documentation for Self-Service Support

Provides comprehensive online documentation, offering users self-service access to guides, manuals, and FAQs, empowering them to find answers to common questions and learn system functionalities independently.

General Transaction Log for System Activity Tracking

Maintains a general transaction log to track system-wide activities, providing an overview of system usage, user actions, and potential system events for monitoring, security, and troubleshooting purposes.

Default Coverage Groups Setup for Standardized Offerings

Allows administrators to set up default coverage groups, streamlining the process of creating new policies by pre-defining common coverage packages, ensuring consistency and efficiency in policy creation.

Default Policy Forms Configuration for Template Standardization

Enables the configuration of default policy forms, standardizing the forms used across the agency, ensuring consistency in documentation, and simplifying form selection during policy creation processes.

Management & Accounting Reports Generation for Performance Analysis

Generates a variety of management and accounting reports, providing insights into agency performance, financial status, key metrics, and operational efficiency, supporting data-driven decision-making for agency management.

Proposal/Letter Generation for Client Communication

Facilitates the generation of proposals and letters, automating the creation of client-facing documents, streamlining communication, and ensuring consistent and professional client interactions throughout the sales and service process.

Dedicated Tech Support for System Assistance

Provides dedicated technical support channels, offering users assistance with system issues, technical queries, and ensuring ongoing system functionality and user support.