Let’s understand how to manage non-life installments, how to record the premium, and how to convert an installment to an endorsement.

Let’s start by adding a policy. Click on “+”> Add Business > Premium. Select your client from the client name search field. Now you can scroll down and click on Next. Here enter the insurance company name, select the branch, and enter Premium Transaction Date (the actual date you received the payment from your customer), select Transaction Type, enter the amount received from the client, choose Mode of Payment, add attachments, if any, scroll down, choose the policy and click on Save to complete the process.

Now let's say the customer is making the first payment, and the remaining balance will be made in two months after. Now assume that we have received the policy document. So click on Yes button to proceed. Now you will be navigated to the Add Policy page. Here you can see the premium transaction date, amount, mode of payment, etc. You can edit the premium transaction details by clicking on the Edit button. Now cross-check all the details and scroll down.

Now put the Policy Number as per the policy document, add bifurcation if any, scroll down further, attach the Proposal Document as well as the Policy Document, select Premium Paying Mode drop-down accordingly, select premium paying period, cross-check the auto-suggested Next Payment date and No: of Additional Instalments (you can edit and change if you want). If the policy document is supposed to send via email, then check to Send to Client and Delivered. Now choose the mode of dispatch By Email and check the rest of the details.

Now click Save to complete the process.

Let's see how we will receive multiple payments from the client.
Go to Policies > Instalments. Here you can see different switch tabs such as All, Due Today, Due Tomorrow etc. With the help of these tabs, you will be able to manage Installments effectively.

Click and expand a particular client. Scroll down until you see the Followup Methods drop-down. Here you can choose and enter the follow-up note and enter the conversation summary you had with your customer. Below you can select the next follow-up date. Click Add Followup to complete the process.

Now you can see that a follow-up note has been added and the next follow-up date has been recorded. Here you need to cross-check the amount received from the client, choose the mode of payment, and attach files if any. Now click Save to complete the process.

Now you can see the paid installments under the Paid section in Instalments..

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In certain cases like general insurance, the insurance company may ask you to convert particular installments to endorsements.

If such scenarios happen, click on Policies > Instalments> To record the premium initially, click on the Add Premium button on the corresponding policy. Now you will be navigated to the Add Premium page.

Here you can check the insurance company name, branch, premium transaction date, etc. You can edit the premium transaction details by clicking on the Edit button. Now cross-check all the details and scroll down. Now click Save to complete the process.

After you have recorded the premium, when you receive the endorsement request from the insurance company, click on the corresponding policy and click on Convert to Endorsement. Now you will be navigated to the Add Endorsements page. Now the software will display all the related details. Cross-check all the details, enter the endorsement number, enter the endorsement issue date, and attach the endorsement document.

If the endorsement document is supposed to send via email, then check to Send to Client and Delivered. Now choose the mode of dispatch By Email and check the rest of the details. Now click Save to complete the process. This is how we convert an Instalment to an Endorsement.

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