A process through which the insurance company send bills directly to the policyholder and the policyholder makes payments directly to the insurance company. The insurance company pays to the producer (agent) commissions or other compensation for producing new business and servicing renewal business.
A means of recovering costs other than by demand or commodity charge to customers; charges are made directly to identified parties, perhaps regardless of their current status as a customer. Direct billing provides a relatively low risk to the pipeline of non-recovery of costs.
A system of insurance premium billing whereby the - Carrier sends the bill directly to the policyholder.
Direct billing occurs if a customer Pre Pics themselves at their local phone company and does not notify the carrier of their new phone number(s).
A mode of premium payment in which policies are billed on an individual basis to the policyholder at home.
A system for the collection of premiums whereby the insurance company "directly bills" he insured for the premium in lieu of the conventional collection of premiums by the agent or broker. The insurer sends a statement to the agent, usually monthly, recording the premiums collected directly, and credits the agent with the commission on those items.