RED PLANET SOFTWARE

UNIVERSALLY TRUSTED

 

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ABOUT

 

Red Planet Software is the leading provider of complete payment solutions for Insurance Premium Financing and Professional Fee Funding.

We provide customized and cost-effective end to end software and support services. Our solutions manage quotes and loans administration through to financial reporting with feature-rich processes, automated approvals, intermediary and customer portals, integrated billing and online payments.

We Work

We work with many premium financing insurance and professional fee providers in United States, Canada, Australia and New Zealand and expanding into the United Kingdom. Our client list is vast and our premium financing solutions manage over $US5 Billion in repayments annually.

Unlock Potential

Premium financing and our other solutions allows your customers to enjoy manageable repayments over an agreed time frame. Managing cash flow for your organization and improving efficiency in administrative tasks are a few benefits you can experience. We are a global leader focused on your success.

ENHANCE YOUR CLIENT'S PAYMENT EXPERIENCE

OUR FOCUS

Our Vision

Red Planet’s vision is to be the planet’s provider of choice for insurance premium financing and fee financing platforms.

Our Mission

Red Planet's mission is to help our customers be great at what they do.

Background Funding - PHASE 2

Following on from the successful launch of Background Funding Phase 1, Red Planet and Ebix have been working together to develop the next release of background funding, namely support for endorsements and renewals. This is essentially the addition of an “opt-out” funder box on the Winbeat invoice and similar functionality in other broker management systems (BMS).



The data sent from the BMS will essentially be the same (except some new fields for Associate details, Net Premium and BPay details) and it will be up to the funders system to decide whether to treat this invoice as new business, an endorsement or a renewal. For example, if the funder has never dealt with the client before, it will be new business and the BMS will be sent an “opt-in” funder box. If it is an existing client and this client has an endorsable loan, it can be treated as an endorsement and the BMS will be sent an “opt-out” funder box. If it an existing client and the client doesn’t have an endorsable loan AND the client has been flagged as auto-renewal, it can be treated as a renewal and the BMS will be sent an “opt-out funder box. If the client hasn’t been flagged as auto-renewal, the BMS will be sent an “opt-in” funder box.

Some of the content of the message data sent back to the BMS will be configurable in Odyssey at broker level. There will also be rules in Odyssey to determine what constitutes an “endorsable” loan.

If you want to learn more about this process and your options, please contact us.

RED PLANET SOFTWARE

Insurance Premium Financing Software  •  Professional Fee Financing Software  

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