Invoice customization
An invoice’s look and feel are fully customizable during the integration process on the Korint platform. The available data will be what is available in the Invoice object.Configuring billing at a policy level
The configurable options for billing customers are:- frequency: bill clients at regular intervals, ranging from one week to one year.
- timing: bill clients in advance or in arrear.
- early payment: choose how many billing periods a customer should pay at contract signature. Can range from none to the entire year.
Billing cycles
For the time being, billing is only supported on signature dates, renewal dates, and more specifically the 1st of month for monthly and yearly frequencies, and on Mondays for weekly frequencies. Here is an example of a policy configured to be billed monthly, with 2 months of early payment, and its contract lasts one year:- 29/03/25: signature of the new business. An invoice is created on 29/03/25, it covers 29/03/25 - 31/05/25.
- 01/06/25: an invoice is automatically created on the 1st of month, it covers 01/06/25-30/06/25. …
- 01/03/26: an invoice is automatically created on the 1st of month, it covers 01/03/26 - 29/03/26. If the policy renews, a new invoice will be created on the 29/03/26, covering 29/03/26 - 31/03/26: early payment is no longer in effect, since this is not a new contract.
Configuring billing at a product level
For each product, a default billing configuration and a list of available billing configurations can be specified, limiting the possible choices for policies of that product. The different configurations can result in additional fees. For example, a product might define the following possible configurations:- in advance billing, yearly
- in advance billing, monthly, with an additional 2% fee
Prorations
By default, proration is active for any insurance product, meaning the customer is charged a percentage of the full cost based on the actual start and end dates of the contract, and based on the actual dates of any pricing modification. This behavior can be modified for each invoice line item: for example, you can decide to prorate policy premium but always pay the same monthly amount for management fees.How prorations work
For example, if a customer is to be billed monthly 100€ and their contract starts in the middle of the month, they will only be billed 50€ for the first month and then 100€ for subsequent months. Similarly if a customers upgrades their coverage in the middle of a month and thus their monthly premium increases from 100€ to 200€, they will only be charged 150€ for that month. For example, if a customer signs a MTA on 15 November 2025 which changes the monthly premium from 100€ to 200€, with proration active the premiums for each month will be as such:| Month | Premium |
|---|---|
| October 2025 | 100€ |
| November 2025 | 150€ |
| December 2025 | 200€ |
| Month | Premium |
|---|---|
| October 2025 | 100€ |
| November 2025 | 200€ |
| December 2025 | 200€ |
Specifying proration for different items
Proration can be turned on or off for different invoice items. For example, for a product with policy premium and an additional fee, we can turn proration on for the premium and turn it off for the additional fee. For example, a customer pays 100€ a month - 80€ of premium, and 20€ of additional fees. For example, if a customer signs a MTA on 15 November 2025 which changes the monthly premium from 80 to 180€, and the customer is billed in advance, then with proration active the customer will be invoiced each month:| Month | Total invoiced |
|---|---|
| October 2025 | 100€ - 80€ premium and 20€ fee |
| November 2025 | 100€ - 80€ premium and 20€ fee |
| December 2025 | 250€ - 180€ premium and 20€ fee, plus reconciliation 50€ premium |