What Billing Management Services does

Billing Management Services, LLC, operating as Bill It Now, is a Connecticut-based private software and services company that provides a web-based direct-bill and agency-bill platform for the US property-and-casualty insurance industry, with a more recent extension into healthcare recurring billing. The platform is built around four core billing products — Direct Bill, Work Comp Billing, Agency Billing, and Health & Benefits Billing — supported by modular capabilities including a proprietary in-house Smart Lockbox, ACH and credit-card processing, an online billing management portal, automated commission distribution and premium remittance, customized installment plans, co-branded invoicing and web pages, a domestic call center, claim check issuance, and delinquent premium collections through partner agencies. Technically, the platform's differentiator is the integration of lockbox, payment processing, commission reconciliation, and ODEN state-compliance notifications into a single SaaS workflow with no on-site storage of cardholder data. Commercially, BMS generates revenue through transaction-fee-based service charges (typically passed through to MGAs or carriers or absorbed) plus bundled professional services such as call-center support, sells directly to insurance carriers, Managing General Agencies, and retail brokers via an enterprise field-sales motion, and has been part of Insurity following its acquisition.

Name

Billing Management Services

Legal name

Billing Management Services, LLC

Website

https://billitnow.com

Company type

Private

Founded year

2005

Operating status

Acquired

Headcount range

101–250 employees

Short description

Billing Management Services (Bill It Now) is a US insurance-billing SaaS provider offering direct-bill, agency-bill, and recurring-premium billing for P&C carriers, MGAs, brokers, and increasingly healthcare payers.

Ownership category

akta.pro rank

Product category

Insurance Billing Software

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

SIC

Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Biller Direct EBPP Platforms (FSAMAJAA)

Keywords

• Insurance billing platform
• Direct bill solutions
• Premium collection services
• Commission reconciliation software
• Lockbox administration services

Headquarters

HQ city

Westbrook

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Third-Party Billing Services: BMS operates as a third-party billing service provider, not a financing company. The company does not prefund carriers for uncollected premiums nor charge interest. Service charges are typically passed through to the MGA or carrier, or absorbed into BMS service charges. Commission payments are made on an 'as collected' basis.
2. Payment Processing Pass-Through: Credit card and ACH processing charges are passed through to the MGA or carrier, or absorbed into service charges. Volume-based pricing allows BMS to obtain lower rates than standalone offerings.
3. Call Center Services: BMS staff handles all inbound billing-related calls, eliminating the need for clients to field billing calls. This is included as part of the billing service offering.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Billing Management Services, operating as Bill It Now, provides a web-based insurance direct-bill platform that handles premium collection, ACH/credit card payment processing, commission reconciliation and distribution, lockbox administration, and state-compliant cancellation notifications for insurance carriers, MGAs, and retail brokers. The platform supports customized installment plans, co-branded invoices and websites, and includes a domestically staffed call center to handle insured and broker billing inquiries.

Product overview

Billing Management Services (BMS), operating as Bill It Now, provides a unified insurance billing platform with a modular architecture. The core platform consists of Direct Bill, Work Comp Billing, Agency Billing, and Health & Benefits Billing as primary billing products. These are supported by integrated modules including an Online Billing Management Platform, Commission Distribution, Smart Lockbox Technology, Credit Card Processing, Call Center, Lockbox Administration, Claim Check Issuance, Customized Installment Plans, and Custom Branded Website & Invoices. The platform is designed for insurance carriers, MGAs, and retail brokers, and consolidates billing-related functions including payment processing, commission reconciliation, premium remittance, and compliance notifications into a single web-based system.

Differentiator

Problem solved

Functional benefit

Brands

• Bill It Now: A web-based insurance billing management platform offering direct bill, agency billing, work comp billing, health & benefits billing, lockbox administration, credit card processing, and call center services.

Products and services

• Direct Bill Customizable installment billing platform enabling policyholders to pay premiums over time, eliminating costly agency billing workloads and premium financing contracts for insurance carriers and MGAs.
• Work Comp Billing Monthly payroll reporting service allowing policyholders to report payroll on a monthly basis, calculating and remitting owed premiums with cash-flow-friendly installment options for workers' compensation policies.
• Agency Billing Billing service for products and agencies that do not belong on direct bill, collecting policies net of agency commission with online reconciled and remitted agency statements.
• Health & Benefits Billing Recurring monthly premium billing service that continues indefinitely until modified or cancelled, supporting health and benefits policies for healthcare organizations.
• Claim Check Issuance Automated check disbursement system that issues large numbers of checks efficiently, with claims for billed policies easily added and checks disbursed automatically.
• Credit Card Processing Integrated credit card payment processing with established merchant account and processing gateway, including online payment screens with volume-based pricing; no credit card data is stored on-site.
• Call Center Inbound call handling service staffed by domestically-based professionals who address billing questions from insureds and brokers on behalf of clients.
• Delinquent Premium Collections Collections management service partnering with national collections agencies to handle uncollected earned premium and unproductive audits.
• Lockbox Administration

Quantifiable outcome

• 90+ days reduced for returned premium check delivery
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

Two partnerships are on record, tiered core and minor.

• ODENcoreTechnology or IntegrationBill It Now has a custom integration with ODEN, a well-known proven service utilized by many insurance carriers and MGAs around the country. This integration ensures that cancellation notices and legal notifications are compliant with state laws and regulations across jurisdictions.
• National Collections AgenciesminorImplementation/ SI/ Consulting PartnerBMS partners with high quality national collections agencies to manage the unpleasant process of premium collections when uncollected earned premium and unproductive audits are unavoidable.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Applied Systems: Large incumbent insurance agency management and billing systems provider serving retailers and MGAs; overlaps with BMS at the broker/agency-billing workflow layer, though Applied offers a much broader management system portfolio.
• Vertafore: Broad insurance technology provider offering agency management, rating, and billing software; larger incumbent with overlapping capabilities to BMS in agency billing and direct-bill reconciliation.
• Duck Creek Technologies: Major insurance core systems provider with billing, policy, and claims modules that compete for the same carriers and MGAs BMS targets, though at a much larger enterprise scale.
• Bill.com: Public SMB-focused bill pay, invoicing, and AP automation platform—comparable as an EBPP and payment-processing competitor, though its core SMB AP/AR motion differs from BMS's insurance-vertical billing.

Emerging players

• Aiwyn: Emerging insurance back-office automation platform covering premium payments, producer commissions, and broker workflows; partial overlap with BMS's commission-distribution and direct-bill reconciliation focus.
• Rectangle Health: Payments and billing platform focused on recurring payments across healthcare and other verticals—adjacent to BMS's healthcare recurring billing expansion, though it does not specialize in insurance premium billing.
• Healthfuse (reAlpha Tech / PayMedix): Emerging payments and billing platform serving healthcare recurring billing scenarios; relevant as BMS expands into Health & Benefits Billing, though it serves the patient/employer payments side rather than insurance premium billing.

Direct peers

• One Inc: Digital payments platform purpose-built for the insurance industry that processes premium payments, claims payouts, and related billing workflows—directly comparable to BMS's insurance-billing focus, with a more API-first modern architecture.
• Paymentus: EBPP (Electronic Bill Presentment and Payment) platform used by billers across multiple verticals for bill creation, presentment, and payment processing; overlaps with BMS's biller-direct model across installment billing and digital payment collection.
• BillingTree: Payments platform specializing in the insurance vertical with ACH, credit card, and lockbox capabilities for carriers, MGAs, and premium finance—directly comparable to BMS's transaction-fee, vertical-specific billing stack.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Billing Management Services