Concord Group Insurance

The Challenge

Concord Group Insurance (CGI) of Concord, New Hampshire has standardized payment processing across their enterprise on Prelude’s PayPilot software since 1999. They wanted to merge the payment operations of one of their subsidiaries, Peoples Service Insurance, with the rest of CGI’s operations to streamline the processing and printing of checks.

The Solution

CGI upgraded to the latest version of PayPilot and consolidated all their various payment databases into a single Microsoft SQL server platform. The centralized PayPilot application processes and prints payments for claims, premium refunds, accounts payable, and cash disbursements across the entire company. It also enables the company to issue electronic commission payments and to process electronic debits for incoming premium payments.

Prelude’s software tracks the lifecycle of payments in a data-driven, scalable environment by seamlessly interfacing with data from various payment-originating sources. It imports payment information, including invoice items and remittance detail, creates the payments, and either processes electronic transactions with the bank or prints checks using MICR (magnetic ink character recognition) technology on blank safety stock. PayPilot also interfaces with CGI’s general ledger application to keep payment status updated.

The PayPilot database is accessible by authorized staff members at any time for queries, reporting, printing file copies, or manual input of payment information. The Bank Reconciliation module automates the reconciliation process completing the payment lifecycle. CGI also added the PayFlag module to ensure OFAC compliance.

The Results

“We always appreciate the opportunity to support our customers’ growth,” said Stephen T. Root, President of Prelude Software. “By consolidating their PayPilot operations and upgrading to our latest software, CGI has the double advantage of working within a flexible centralized environment while they implement leading-edge enhancements that complement their business development.”

“At CGI, we look for innovations and improvements in our procedures and our service delivery,” said Amy Kezar, CGI’s Business Development Manager. “We are confident that with the new technology from Prelude, we can manage an increased volume of payments with even greater efficiency. This enables us to save on processing time and costs, and as a result, to provide the best service to our policyholders.”