Premium Receipts for General Insurance Agencies
Agencies handle premium in two directions: what a client pays the agency, and what the agency pays an insurer. This module records both against the policy and prints a receipt.
Two kinds of premium entry
Some clients pay the insurer directly through a payment link. Others hand the agency a cheque or send UPI, and the agency remits it. The entry shows which route was used.
Who uses it
Servicing staff issue the receipt while the client is still at the counter or on the phone. The accountant reads the day’s collections and remittances. The owner reads what is pending with the agency, which is premium collected but not yet passed to an insurer.
How it connects
A payment recorded here marks the policy as paid. It also gives the commission statement something to be matched to. Unpaid premium on a renewal shows on the renewal list, so that a lapse is seen early.
What the agency settles first
- Whether the agency collects premium itself or only guides the client
- How receipts are numbered and worded
- Which payment modes are accepted at the counter
- How often remittances go to each insurer
- How the accountant wants collections grouped
Frequently asked questions
Is this a payment gateway?
No. It records payments. A payment link or UPI collection relies on whichever gateway the agency already uses, and that is confirmed during scoping.
Can receipts go to the client on WhatsApp?
Yes, once WhatsApp is connected. The receipt is sent as a message, and the send is noted on the payment.
Does the system say how premium must be handled?
No. Rules on holding client money, and the tax treatment of receipts, are matters for the agency’s accountant and for its agreement with each insurer.
Can we see premium collected but not yet remitted?
Yes. That list shows by insurer, with the date each amount was received.
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