Rudd and Wisdom, Inc.
Software Division

9500 Arboretum Blvd., Suite 200
Austin,TX 78759
Main Phone: (512) 346-1590
Main Fax: (512) 345-7437
info@ruddwisdomsoftware.com

Life Insurance Policy Administration –                                 Premium Application for Single and Group Accounts

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QL.Admin premium processing is designed to allow for easy premium entry with real-time updates to the database. It is a very flexible life insurance policy administration system and lends itself to doing business the way you do business, not the way the software wants you to. Call 512-346-1590 to schedule a demo.

The system provides complete premium processing capabilities for:

• Recording initial Cash with Application (CWA)
• Tracking premium payments, including payment source and user
• Automatic posting of bank draft premiums
• Creating Premium Application Reports for premium/deposit confirmation

Paid-to dates, commission records, and financial values are updated immediately as the premium payments are applied. The innovative system automatically determines the best method to account for the premium payment – whether the payment is a multiple of the current mode or a modal payment that is different from the current policy mode.

Flexible yet accurate premium processing.

Premiums may be applied by individual policy or by group, and pre-authorized bank draft files are automatically created and premiums posted when PAC billing is run.

• Customized System Parameters
  Over/short limits and suspense amounts are calculated according to your company's specific system settings, and agent commissions are automatically adjusted for any premium reversals or changes to payments previously applied.
   
• Premium Reports
  Preliminary and final premium application reports are created and saved for each specific user who processes premium transactions.
   
• Group Policies and List Bills
  Group premiums are applied from the group bill data window. Amounts on an individual policy in a group can be edited to match the amount remitted, new policies can be added to the group, and the entire group can be zeroed out or terminated. A running total is kept comparing what is billed to the group versus what is actually paid.

Our aim is to provide our customers with quick and customized software solutions that can service different lines of insurance business while reducing administration costs. Call 512-346-1590 today to schedule a demo.