https://completemarkets.com/Article/article-post/1318/COLLECTIONS/
... x No Thanks Loading.. Collections 4/30/2013 by CompleteMarkets Editor This content has not been rated yet. COLLECTIONS The purpose of a collection system is to collect money owed to the agency without alienating the insured. In this section, we will answer the following questions: Who should do the collecting? What are the steps to developing an effective collection system? When should you collect? Why must every agency set a goal concerning collections? OVERVIEW Who Should Do the collecting? One staff person should be responsible for the collection system. This person should be the bookkeeper, financial manager, or another individual in the accounting department. Do not involve the producer in collecting unpaid premiums. A producer cannot be the good guy' who develops a friendly relationship with the insured and then ... bad guy' at collection time. What Are the Steps to Developing an Effective Collection System? 1. Appoint a responsible collection manager. 2. Establish a list of key accounts (the agency's largest and best accounts), which are not subject to automatic collection rules. These accounts receive special attention by telephone from the collection manager. 3. Establish an agreement with CSRs and anyone who processes new and renewal policies that a policy inception date cannot go by without a binder and a billing. 4. Proceed to get payment within 15 days of the renewal date, or issue a notice of cancellation directly to the insured (with the exception of previously agreed-upon key accounts) . Use either an automated aged-accounts receivable printout or your manual bookkeeping system. 5. Educate all producers, agency staff ...
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https://completemarkets.com/Article/article-post/1096/COMPANY-PAYMENT-OBLIGATIONS/
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https://completemarkets.com/Article/article-post/818/Are-Your-Life-Insurance-Policies-Written-In-Gibberish/
Are Your Life Insurance Policies Written In Gibberish?
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