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Now live: Premium Accounting and CoverPay. Insurance native accounting, installment billing, and payment collection infrastructure with full control of your payment gateway.
Insurance installment billing software must handle more than scheduled payments. It must support down payments at bind, mid-term endorsement adjustments, configurable retry logic, and accurate reconciliation across policy systems. CoverPay provides a native installment billing engine designed specifically for property and casualty organizations. It enables MGAs, wholesalers, and carriers to create premium schedules, automate due-date collections, recalculate balances when policies change, and monitor billing performance in real time.
As part of the broader CoverPay insurance payment system, the installment engine integrates directly with rating, policy administration, and accounting workflows.
CoverPay allows organizations to:
Schedules can be triggered automatically from rating or policy systems integrated through the Insurance Payment API This ensures installment logic is aligned with underwriting and policy issuance.
On each installment due date, CoverPay:
If payment fails, automated retry rules activate according to configured policies.
See retry workflow details: Insurance Payment Retry Automation
Mid-term policy changes create billing complexity.
When endorsements increase or decrease premium, CoverPay can:
This eliminates manual recalculation and spreadsheet reconciliation.
Full explanation: Insurance Endorsement Billing
MGAs require flexibility across:
CoverPay supports installment billing across these environments while maintaining merchant-owned gateway control.
Dedicated overview for MGAs: MGA Payment Processing System
Carriers require:
CoverPay supports carrier-level billing automation with configurable rules and monitoring dashboards.
Carrier overview: Carrier Payment Processing System
Operations teams can manage installment billing through the admin portal:
This creates operational visibility across the premium lifecycle.
Many insurance billing platforms bundle:
CoverPay focuses on configurable installment infrastructure while allowing organizations to maintain merchant control.
Generic subscription billing tools are not built for:
CoverPay’s installment engine is purpose-built for insurance operations, not recurring SaaS subscriptions.
If your organization requires insurance installment billing software built around underwriting complexity and policy lifecycle changes, request a technical walkthrough of CoverPay.