Mid Term Agreements
If a customer decides to modify their contract’s terms, this can lead to a change in the proposed quote. The updated invoicing schedule will be proposed to the customer before signature of the MTA.Example: MTA resulting in a higher monthly quote, for both prorated and non prorated products
Example: MTA resulting in a higher monthly quote, for both prorated and non prorated products
Let’s consider a customer with a monthly quote of 100€, and the customer has signed a year long contract to start on 01/10/25. In that case the invoicing schedule will be:
The customer decides to modify their asset on 15/04/26: the new quote proposed by the insurer is now 150€ monthly. Instead of waiting till the end of the contract to bill the customer the
additional premium, the system will immediately modify the invoicing schedule as such:Non-prorated reconciliation:
The month of May is more expensive because the customer has paid only 100€ instead of 150€ for the month of April 2026.You can also configure your product to be automatically prorated. If you do so, then the invoicing schedule change will look like:Prorated reconciliation:
During the month of May, a 100€ quote for 01/05/26 - 15/05/26 was changed to a 150€ quote for the second half of the month 16/05/26 - 30/05/26; so the precise premium due
is 50+75 = 125€.
| Date | Amount | Details |
|---|---|---|
| 01/10/25 | 100€ | |
| 01/11/25 | 100€ | |
| 01/12/25 | 100€ | |
| 01/01/26 | 100€ | |
| 01/02/26 | 100€ | |
| 01/03/26 | 100€ | |
| 01/04/26 | 100€ | |
| 01/05/26 | 100€ | |
| 01/06/26 | 100€ | |
| 01/07/26 | 100€ | |
| 01/08/26 | 100€ | |
| 01/09/26 | 100€ | |
| 01/10/26 | 0€ | end of contract |
| Date | Amount | Details |
|---|---|---|
| 01/05/26 | 175€ | 150€ for May’s premium and 25€ to reconcile the missed premium in April |
| 01/06/26 | 150€ | |
| 01/07/26 | 150€ | |
| 01/08/26 | 150€ | |
| 01/09/26 | 150€ | |
| 01/10/26 | 150€ | end of contract |
| Date | Amount | Details |
|---|---|---|
| 01/05/26 | 150€ | 125€ for May’s premium and 25€ to reconcile the missed premium in April |
| 01/06/26 | 150€ | |
| 01/07/26 | 150€ | |
| 01/08/26 | 150€ | |
| 01/09/26 | 150€ | |
| 01/10/26 | 150€ | end of contract |
- Reconciliation timing: For the moment, only instant reconciliation is supported. This means that reconciliation will be applied at the next planned invoice.
Example: Reconciliation for prorated and non prorated invoice items
Example: Reconciliation for prorated and non prorated invoice items
If the invoicing schedule looks like this:
A MTA is signed on 15/11/25 that changes the premium from 80€ to 90€. The expected invoices will be:
if the premium should be prorated -> 01/12/25: 115€ - 90€ December premium, 20€ management fee, 5€ missed premium from November
if the premium should NOT be prorated -> 01/12/25: 115€ - 90€ December premium, 20€ management fee, 10€ missed premium from November
| Date | Amount |
|---|---|
| 01/10/25 | 100€ - 80€ premium, 20€ management fee |
| 01/11/25 | 100€ - 80€ premium, 20€ management fee |