AdInsure business modules

Recoveries

The Recoveries functionality provides full support for recovery management – from the identification of the debtor through the handling of amounts to recover to the definition of the collection result.

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Recoveries

Different processes for different situations

The Recoveries module provides complex, yet easily configurable handling procedures for different types of recoveries, regardless of whether our clients work on a single payment or a series of instalments. The integration of the Recoveries module with the Accounting module ensures up-to-date account balance information and provides support for the dunning process. Integration with the Claims module allows users to define accurate amounts for recovery and notifies various teams about the ongoing recovery.

Recoveries

Key features

Recovery registration

Register a recovery (subrogation, recourse) and connect it to the relevant claim.

Recovery handling

Decide on the recovery claim amounts, choose a single payment or instalment plan to settle recovery claims with the claimants or legal representatives through and create off-balance postings followed by on-balance postings.

Adjustments of recovery amounts

Update off-balance amounts or write-off on-balance amounts, check the payment schedule and determine additional amounts to recover.

Recovery insights and reports

Use several criteria to search for a specific recovery based, quickly retrieve aggregate information about registered recoveries and monitor posted amounts for each recovery.

Recovery reactivation

Handle additional recovery in the scope of the claims that were previously resolved, identify previously unknown debtors and continue with the recovery process.

Account balance and audit trail

Gain real-time insight as data recorded in the module directly influences the party's account balance and generates an audit trail in both the Claims and Recoveries and Reinsurance modules.

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