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Considerations for Agency Billing
Here are some important considerations when using Agency Billing with insurance policies.
- Agency Billing supports billing only at terminal nodes, such as coverages. Billing isn’t supported at aggregated parent levels like policy or asset when child components exist.
- Agency Billing supports policy hierarchies of up to five levels, with surcharges allowed as an additional level. Because billing involves intensive calculations, deeper or more complex hierarchies aren’t supported and may impact billing performance.
- Taxes and fees must be modeled using Surcharge records to be included in billing. Amounts entered directly in tax or fee fields on policy components aren’t considered for billing.
- Agency Billing doesn’t support billing for taxes or fees associated at parent levels in the policy hierarchy. Associate surcharges only at terminal nodes, such as coverages.
- Agency Billing doesn’t support aggregated billing. If a policy has child components, billing always occurs at the most granular terminal level. Because billing involves intensive calculations, designs with very deep or highly complex hierarchies may impact performance and aren’t supported beyond the defined limits.
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