Introduction of a new technology platform for the highly regarded SE2 billing solution provides SE2 clients with enhanced auditing capabilities, enabling them to track every incoming dollar from policyholders.

“The new billing platform provides an even higher level of risk management, thanks to a stronger control system with complete auditability,” said SE2 Chief Executive Officer Dave Keith. “Our clients will now have a complete view of all the money flowing into the company, via both electronic and manual payments. Audit and security reporting is now more detailed, more flexible and easier than ever to operate.”

Keith said the new platform adds the enhanced audit and control features while retaining the unique capabilities that have made the SE2 billing platform an industry leader in efficiency. That includes exception-based processing, in which all incoming payments that match expected amounts are processed automatically, while payments that deviate from expected values are flagged for mandatory review.

Keith said SE2’s status as a technology provider with roots in a century-old insurance company enabled the company to design the platform’s controls from the point of view of all areas impacted, including Operations, Finance and Risk Management. “This system is designed by and for people who do billing for a living, but was built by a technology team that has won multiple industry awards for innovation,” Keith said. “That approach combines high levels of efficiency, functionality and reliability in one system.”

Conversion to the new platform is nearing completion, with several SE2 clients already moved onto the new system. Full usage of the new system for all accounts is expected by March. The new billing platform is the latest upgrade in SE2’s ongoing process of constant review and improvement to ensure that products created to be state of the art, stay state of the art. The Agency Licensing and Commission platform will be the next upgrade, which will involve multiple upgrades and releases in 2012.