Premiums & Receivables

The Premiums & Receivables module handles all the billings and payments occurring for insured policies.
GLIMS has a revolutionary and very flexible payment plan definition program, that gives the insurance company the ability to tailor any combination of Installments, and distribute the yearly premium according to a set of predefined Installments and percentages.
In other words, it is not necessary to be limited to 1,2,4 or 12 Installments per year, rather GLIMS enables a policy to have 7 or 9 Installments, or any other number of Installments, with every Installment having a different amount due, and the Installments due dates are not necessary evenly spread over the year.

GLIMS handles the following payment procedures:

Cash Premium Payments.

Direct Debit Payments.

Credit Card Payments.

Bank Transfers.

Batch Reversals.

Bath Transfers.

Batch Refunds.

Ad Hoc Premium Payments.

Premium Reversals.