Billing & Collection DRIASI's system has the capability to deliver premium notices in a variety of formats including Bank Debit, Credit Card, Mortgage and Direct billing. In light of the emphasis on privacy of account number information and billing concerns, we developed a solution to accommodate different approaches at the request of clients.
Bank Debit is referred to as DDA or ACH transactions. We produce an electronic billing file daily in standard NACHA-ACH record layouts for ACH transactions. Collected premiums are credited to a fiduciary trust account.
Credit Card billing follows a similar process.
DRIASI provides a different strategy for programs marketed by Mortgage clients. We have the insured's monthly premiums incorporated into monthly mortgage premium billings. As the mortgage company collects the premiums, they remit them to us on a predetermined basis. DRIASI has subscribed to ALLTEL, an industry leading data interchange service providing an efficient data exchange for better customer service.
Our direct billing option also incorporates a final notice or lapse alert. This persistency series emphasizes to the insureds the need for the product and provides an option for those clients uncomfortable with automatic premium debits. This billing option increases the retention of your customers.
If you have additional questions about this service, please see our FAQ or contact us for more details.
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