insurance , commission , Accounts Receivable

4 days ago


Nagpur, Maharashtra, India Enrich And Enlight Business Consulting Full time ₹ 2,00,000 - ₹ 6,00,000 per year

Role & responsibilities

Role Name: AR Billing

Responsibilities

  • Generate agency and direct-bill invoices for new policies, endorsements, renewals, and

cancellations

  • Preparing invoices for clients based on the services availed, identifying and resolving the

billing error, issuance of credit notes with proper authorization, resolving customer disputes

on billing, ensuring all income is accrued and accounted, sending the invoices to the

customer

  • Accurate and timely receipt, posting, and reconciliation of direct bill commissions from

insurance companies on a daily, weekly, and monthly basis, Process corrections and

changes to broker commission rates as necessary. investigate and resolve issues not

limited to commission discrepancies, and follow up on outstanding items

  • Coordinate with servicing and producers for missing or incorrect billing data.
  • Investigate and resolve billing discrepancies with clients or carriers
  • Maintain accurate documentation and compliance with regulatory and internal standards.

Skills and Experience

  • Graduate 15 years of billing/accounting experience in the insurance or financial

services industry.

  • Familiarity with agency management systems (Applied Epic, AMS360, etc.) is

preferred.

  • Basic knowledge of insurance terms and billing cycles.
  • Proficient in Excel and other MS Office tools.
  • Strong analytical, problem-solving, and communication skills.
  • High attention to detail and time management
  • Willingness to work in US shift hours (CST hours)

Role Name: AR Cash Applications

Responsibility

  • Responsible for accurately processing and recording customer payments, reconciling accounts,

and handling payment discrepancies to ensure proper financial record-keeping, posting of cash

received

  • Responsible for posting payments from various lockboxes to the customer accounts in a timely

manner

  • Applying the payment received against commission, movement of funds from collection

account to corporate account and passing appropriate journal entry

  • research and resolution of aged unidentified and unapplied cash receipts and accurate posting

to customer accounts

  • Coordinate payments made by a lockbox ACH/Wire and other adjustments to customer

account for credits/debits and account write-offs

  • Work with both internal/external stakeholders to resolve for unidentified cash
  • Reconcile Cash - Balance Accounting system funds against bank deposits and daily/monthly

reconciliations

  • Communicate effectively with customers and internal teams regarding required remittance or

cash application information

  • Identify areas of improvement to streamline and automate the process
  • Update process documentation that includes Standard Operating procedures / FMEAs / SIPOCs

and other Quality manuals as and when required.

  • Supervises, coordinates, and directs the work activities of assigned employees

Skills Required

  • Graduate with a minimum of 1 to 4 yrs of experience in Accounts Receivables (Cash

Applications preferred)

  • Working knowledge of various insurance agency management systems (AMS) such as Benefit

Point Applied EPIC is preferred

  • Prior experience in the insurance brokerage industry or P&C insurance
  • Provide excellent Customer Service to internal and external customers
  • Excellent verbal (oral) and written communication
  • Proficient with MS Office - Microsoft Excel and Microsoft Outlook (Other system

experience is a plus)

  • Strong analytical and organizational skills with attention to detail
  • Ability to execute transactions as per prescribed guidelines and timelines in order to

meet the SLA and quality standards.

  • Willing SLA and quality standards.
  • Willingness to work in US shift hours (CST hours)

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