Cash Application
Every premium payment matched to the right policy and instalment, and suspense cleared in a day.
Why it matters
Payments arrive by lockbox, ACH, card, UPI and agency statements with thin remittance detail; unmatched cash sits in suspense for weeks while policies drift toward lapse or cover is held back.
How the solution handles it
Agents read every bank line and remittance, match payments to policy and instalment, flag short, over and duplicate payments, and draft queries to clear suspense. A billing accountant approves every posting; cover is confirmed only on received premium.
How a payment moves
Five agents read remittances, match payments, flag variances, chase suspense and draft postings; a billing accountant approves every posting.
What it reads, and what it hands back.
What goes in
- Bank and lockbox files
- Remittance advices and agency-bill statements
- Billing schedules and instalment plans
- Policy and invoice register
- UPI and NEFT payment files
What comes out
- Payments matched to policy and instalment
- Suspense items with a drafted query
- Proposed ledger postings
- Cash-before-cover confirmation
Who uses it
The difference, in numbers.
Every figure is labelled: a target the solution is built to, an estimate, a typical published result, or a proven one.
Sources: Insurance Act 1938 §64VB (India: no risk assumed before premium is received) · “Target” = design goal, measured in the live solution · “Typical” = typical industry figure · “Estimated” = our estimate
5 specialist agents. One person decides.
More in this division.
Every mid-term change request read, checked, rated and drafted the same day, each field traced to the request.
Cancel & ReinstateEvery cancellation notice sent on time and every reinstatement checked, with each state’s notice rule applied.
Commission ReconEvery commission statement reconciled line by line to premium paid, with each difference explained.
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