Billing & Collection Configurations

Billing & Collection enables insurers to speed-up and simplify the billing and collection operations:

• Invoicing - Invoicing is automatic only. Invoices are constantly generated in the system for all the Enforced insurance policies, that include products in Active status.

• Payments - The solution lets insurers process different types of payments, incoming and outgoing, manually or automatically, received from different sources or systems - such as online payment processors, bank statement files, bank payment orders, etc. The solution processes bank statements standardized files of MT940 type. For payments that respect some rules, the payment allocation flow is completely automated.

• Direct Debit - Direct debit processing is also fully automated. In order to accommodate the differences regarding the direct debit payments, the solution has dedicated workflows for the SEPA and for the UK financial area.

The following endpoints are used with Billing & Collection:

• Add outgoing payment request;

• Add direct debit mandate;

• Add invoice.

Some functionalities allow manual interventions - signaled inside the description of the respective feature.

Learn how to configure the Billing & Collection functionalities by accessing the pages below: