Insurance Billing & Finance Software
Every premium.
Easily reconciled.
Premium billing, collections, commission and bordereaux in one insurance platform, reconciled and connected to your general ledger.
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Billing that follows the policy lifecycle
Generate and manage insurance invoices from policy transactions, with configurable billing schedules, payment terms and documents. Genasys keeps premium and transaction information connected as policies are issued, renewed or amended.
- Automated invoicing at key policy stages, including issue, renewal and endorsement.
- Flexible billing configuration with tailored invoice templates, due dates and payment terms.
- Complete transaction histories showing premiums, adjustments and related financial activity.
Make premium collection easier to manage
Configure payment arrangements around your products, customers and operating model. Genasys supports scheduled collections, instalment plans and integrated payment methods, helping teams manage payments and outstanding balances with less manual intervention.
- Flexible payment plans including monthly instalments, deferred payments and mid-term settlements.
- Integrated payment methods through supported payment integrations, including direct debit, debit order, cards and electronic funds transfers where configured.
- Collection workflows with scheduled payments, payment reminders and configurable escalation for overdue balances.
Manage complex commission structures with confidence
Calculate and track commissions across brokers, MGAs, schemes and capacity providers. Genasys supports configurable commission arrangements and records commission transactions alongside associated policy and premium activity.
- Configurable commission structures by broker, scheme, product or capacity provider.
- Multi-tier commission calculations covering percentage-based arrangements and layered distribution structures.
- Commission adjustments and clawbacks to account for cancellations, non-payment and policy amendments.
Connect insurance transactions to financial control
Keep financial transactions traceable from their source through to reconciliation and external accounting. Genasys supports insurance-specific technical accounting, configurable reconciliation processes and financial records that help teams investigate discrepancies, manage adjustments and prepare data for their general ledger.
Payment in
Policy and payment transactions
Every premium, payment and commission is recorded against the policy it belongs to.
Payment received: £676.53
Reconciliation
Matching and review
Payment matching and reconciliation using configured criteria such as transaction reference, amount and date, with discrepancies available for review.
Matched to INV-20418
Adjustment
Allocations and reversals
Allocations, adjustments, reversals and journal-related records stay traceable to their source.
Allocation recorded
Ledger
External accounting
General ledger integration through APIs, exports or scheduled file transfers, with mappings aligned to the client’s chart of accounts.
Journal posted
Genasys handles the insurance financial processing. Your general ledger remains your accounting system.
Built for complex insurance operations
Genasys supports the financial requirements of insurance businesses operating across currencies, territories and legal entities. Configure financial processing to reflect the needs of your products and operating model.
Keep premiums, commissions and bordereaux aligned
Manage the financial reporting associated with delegated and multi-capacity insurance arrangements. Genasys supports the generation, ingestion and reconciliation of risk and paid bordereaux, helping teams maintain consistency between policy, payment and commission records.
- Bordereaux generation using configurable schedules and templates for insurers and capacity providers.
- Risk and paid bordereaux reconciliation to identify discrepancies and support investigation of variances.
- Broker and insurer statements generated from transaction data to maintain visibility across premium, payment and commission activity.
Turn financial transactions into useful insight
Give finance and operational teams visibility across premiums, commissions, bordereaux, receivables and payables. Genasys reporting helps users investigate transactions, monitor financial performance and prepare data for wider management reporting.
- Financial dashboards and reporting across premium, commission, payment and bordereaux activity.
- Transaction-level drill-down and exports to support reconciliation, analysis and audit preparation.
- Connected reporting tools including the 4Sight Data Warehouse and Power BI integration for wider analysis and management information.
Recognised insurance technology
We’ve been recognised as an industry-leader for billing functionality and technology. Genasys was named a "Luminary" in Celent’s 2023 Property Casualty Billing Systems: EMEA Edition for Advanced Technology and Breadth of Functionality.
Technology Standout P&C Claims Systems
Celent
2024
Luminary Award P&C Billing EMEA
Celent
2023
Best Software Provider: Policy Admin
European Insurance Technology Awards
2022
Billing software trusted by global insurance operations
From scaling MGAs to enterprise carriers transacting hundreds of millions in GWP.
One platform for insurers, MGAs and brokers
One premium is owed to several parties. Genasys works out each share and accounts for it, wherever you sit in the insurance chain.
Insurers
Keep premium income controlled and reconciled
Gross payable by the policyholder£7,152.48
- Net premium due to the insurer£5,018.40
- Broker commission, 15%£885.60
- Engineering inspection fee£450.00
- Insurance premium tax (UK), 12%£708.48
- VAT on the inspection fee, 20%£90.00
- Payment matching and reconciliation
- Insurer bordereaux and statements
- General ledger integration by API, export or scheduled transfer
MGAs
Account for delegated business across every capacity provider
Gross payable by the policyholder£7,152.48
- Net premium due to the capacity provider£4,132.80
- Broker commission, 20%£1,180.80
- MGA commission, 7.5%£442.80
- MGA coverholder fee, 2.5%£147.60
- Engineering inspection fee£450.00
- Insurance premium tax (UK), 12%£708.48
- VAT on the inspection fee, 20%£90.00
- Risk and paid bordereaux for capacity providers
- Multi-tier commission across your distribution
- Reporting across MGAs and legal entities
Brokers
Bill clients and settle commission with less admin
Gross payable by the policyholder£7,152.48
- Net premium due to the insurer or MGA£4,723.20
- Broker commission retained, 16%£944.64
- Commission paid to an introducer, 4%£236.16
- Engineering inspection fee£450.00
- Insurance premium tax (UK), 12%£708.48
- VAT on the inspection fee, 20%£90.00
- Invoicing at issue, renewal and endorsement
- Instalment plans and scheduled collections
- Commission statements, adjustments and clawbacks
Illustrative figures for a UK policy: £7,152.48 payable, made up of a £5,904 premium, insurance premium tax at the UK standard rate of 12% on the premium (£708.48), a £450 engineering inspection fee and VAT at 20% on the fee (£90). Rates and the tax treatment of fees vary by market and product. Each party’s own share is in full colour.
Frequently Asked Questions
Answers to common questions about insurance billing and finance software and the Genasys platform.
What does insurance billing and finance software do?
Insurance billing and finance software supports premium invoicing, payment collection, commission processing, bordereaux and reconciliation. Genasys connects these processes with policy transactions and supports financial reporting and integration with external accounting systems.
Can Genasys support instalment plans, flexible payment terms and multiple currencies?
Genasys supports configurable premium payment schedules, including monthly instalments, deferred payments and mid-term settlements, and billing and reconciliation across multiple currencies. Available payment methods, collection integrations and exchange-rate sources depend on the configured solution.
How does Genasys manage broker and MGA commissions?
Commission arrangements can be configured around the relevant broker, scheme or capacity provider. The platform supports commission calculations and, where configured, adjustments and clawbacks associated with policy changes or cancellations.
Can Genasys generate and reconcile bordereaux?
Genasys supports the generation and reconciliation of risk and paid bordereaux using configured schedules and templates. Reconciliation can highlight variances for review and adjustment.
Does Genasys replace our general ledger?
No. Genasys provides insurance-specific financial processing and technical accounting capabilities and can exchange financial data with external general ledger systems using supported APIs, exports or scheduled transfers.
See your billing and finance in Genasys
Bring us your toughest reconciliation, commission or bordereaux process, and we’ll show you how Genasys handles it.
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