- Annual premium transactions
- Down payment with installment plan transactions
- Financed premium transactions (with either direct remittance or payment to agency)
- Audit premium transactions (final or interim audits)
Endorsements
A. Why is NOBL Basic Needed?
Receivables are known as primary source of trust financial insolvency. Most agencies struggle to control them. Agencies need NOBL Basic to secure the timely receipt of premium payments. NOBL Basic uses a proprietary automated billing procedure designed to eliminate earned premium liability and protect insureds against cancellation for non-payment of premium.
Receivables aging is not permitted in trust accounting. Payments must be received by their due dates or policies may be cancelled for non-payment of premium.
NOBL Basic offers users significant benefits:
✔ Gives CSRs 20 -25% more time to support production and service clients;
✔ Reduces bookkeeper’s workload by 70%;
✔ Eliminates potential producer penalties for delinquent payments;
✔ Offers agencies the opportunity to increase production by up to 25% with no additional payroll
B. What’s Included
Transactions
-
Insured and Policy data records;
- Billing and Follow-up on delinquent payments
- Premium Payments (checks, cash or EFT)
- Bank Deposits
Endorsements AP
- Endorsement AP data records;
-
Billing and Follow-up on delinquent payments
- Endorsement Payments (checks, cash or EFT, financing)
- Bank Deposits
C. Management Reports
- Policy Premium Detail
- Down Payment Detail
- Policy Account Billing Detail
- Policy Bank Deposit Detail
- Trust Bank Account Summary
- Trust Bank Account Cash Balance
- More reports are available
D. How it Works
- Agency saves transaction Closing Documents and prepares NOBL "Source Documents".
- Agency certified personnel enters data in NOBL from Source Documents
- Agency saves Source Documents in a Service Folder for future reference and audits
- Agency uses NOBL to process premium payments and bank deposits
- Agency runs reports as needed
Back to NOBL Suite
