Billing Terminology

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Across
  1. 4. When money is sitting on the account and has been reduced from the account balance.
  2. 9. This action allows authorized users the ability to correct the amount of a payment that was encoded incorrectly or correct the received date if the system is not reflecting the correct date.
  3. 10. The action to move an entire payment to unapplied.
  4. 13. When a check is sent to a customer or Third Party Interest (TPI).
  5. 15. A process in which BillingCenter identifies an account with overdue payments.
  6. 18. Applying an amount to a specific fee or charge on a policy.
  7. 19. This allows select mortgage companies to receive list bills and remit payments electronically.
  8. 21. When money is on the account but has not applied to any policy.
  9. 22. Monthly amounts that were figured based on premium amount and months to bill
  10. 23. An action used to transfer partial amounts to another billing account from Not Allocated/Unapplied.
  11. 24. A way to balance the charge and credit of an account/policy amount to a zero balance
  12. 26. When a full payment is moved to another account
  13. 28. This action in BillingCenter allows users to modify how the money is applied. If partial payment needs to be applied to another account, you can remove money from some installments to put money into unapplied. This will not disrupt the rest of the payment.
  14. 29. A single policy that provides coverage for multiple vehicles
  15. 30. When money is applied (allocated) to a specific charge or policy.
Down
  1. 1. Tasks created or assigned in Advance BillingCenter.
  2. 2. A Header payment that is fully intact and from which no money has been transferred or disbursed.
  3. 3. A party other than the policyholder or the insurance company with an interest in the billing account
  4. 5. Earmarking funds for a specific policy before BillingCenter receives the charge
  5. 6. Tasks that were system generated and need to be assigned to a User to be handled
  6. 7. Is created from a cancel, policy change credit or money transferred from another billing account and then distributed to charges (or refunded if applicable)
  7. 8. Transactions that occur on an individual policy level include policy changes resulting in charges or credit, cancel credits, or cancel/rewrites resulting in charges or credits.
  8. 11. A process for getting money back from the insured after an incorrect disbursement was sent.
  9. 12. Process of submission – creating a new policy.
  10. 14. A payment received on a TPI billing account.
  11. 16. Allows the company to create and distribute a consolidated bill listing all policies, with a premium. to be paid by a Third Party Interest (TPI).
  12. 17. This action allows authorized users the ability to manually reverse a payment within BillingCenter due to a Returned Bank item
  13. 20. An excess amount of money held for a TPI policy/account payment.
  14. 25. Premium that is discounted for customers who choose to pay the entire premium at the beginning of a new submission, renewal, or rewrite.
  15. 27. The process of applying a whole payment to the appropriate policies.