When a customer signs a policy, all planned invoices are available for perusal for that policy. Often times the expected amount to invoice can change during a policy’s lifecycle - for example because of a Mid Term Agreement that modifies the agreed upon quote. The Korint billing module automatically takes into account these pricing changes and subsequently modifies the invoicing schedule. More generally, any impact on the policy’s quote will result in a change in the invoicing schedule. If the customer is billed in advance, meaning they are billed for an upcoming coverage period, this can lead to reconciliations. Currently only instant reconciliation is supported, i.e. at the next expected invoice.Documentation Index
Fetch the complete documentation index at: https://docs.korint.io/llms.txt
Use this file to discover all available pages before exploring further.
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 |