INSIS Billing & Collection

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A specialized sub-system that manages all the financial interactions between INSIS and external financial systems (e.g., general ledger, accounts payable and receivable, banks, payments operators, collectors, and more). The design and development of INSIS Billing & Collection module is based on more than 20 years of Fadata experience in development, implementation and integration of financial solutions for insurance companies around the globe.

Key Features

  • Accounts and Agreements - Define accounts for all party roles (policyholder, agents, insurer, etc.) with associated billing parameters and related agreements.
  • Payments - Create, allocate, and re-allocate payments relating to bank transfers, cheques, direct debits, point-of-sale terminal payments and cash. Manage confirmations, clearings and rejections, as well as overdue payments with dunning control.
  • Installements - Accumulate financial requests from all relevant INSIS operational modules, and manage receivable and payment requests including with dunning control.
  • Accounting - Register and process sub-ledger events, and use INSIS’ Accounting Engine and Translation Rules to convert events into accounting statements for one set of books.
  • Statements - Process bank statements for insurance-related operations.
  • SEPA invoicing
  • Notifications - Issue reminders, cancellations, policy suspensions, etc.
  • ElectronicPayments - Issue reminders, cancellations, policy suspensions, etc.

Key Benefits

Connect faster and more effectively with your customers and distribution partners:

Increase Solution and Integration Flexibility:

  • Provide a highly automated vertical solution for insurance, optimized for high volume processing, simplified for implementation, customization, and use.
  • Support incrementally extendable libraries of data processing rules, workflows and algorithms, connectors to internal and external systems, document formats for various electronic forms (PDF, EDI, XML, etc.).
  • Use the flexibility of INSIS background technologies - workflow and rule engines, configurators, front end, integration architecture, security, etc.

Increase Business Agility:

  • Rapid, flexible product design
  • Highly adaptable business processes
  • Integrate and innovate with ecosystem solutions

Drive Digital Engagement:

  • Deliver positive customer experiences across channels
  • Covering the full customer journey and product lifecycle
  • Drawing on deeper customer insights

Reduce Costs and Complexity:

  • Integrate processes on a single platform
  • Increase automation and efficiency
  • Lower total cost of ownership

Improve Operational Risk and Compliance:

  • Accurate, consistent and controlled processes
  • Improve operational governance
  • Support regulatory compliance needs