Collections and Disbursements


The SAP FS-CD module is an insurance solution specifically designed for the processing of all payment and billing activities of policyholders, agencies, and related third parties. The main components of FS-CD include:

  • Display of consolidated account balance to process requests for policy holders and agents
  • Direct integration with SAP Business Partner (BP)
  • Invoicing of agencies (brokers) and maintenance of the customer hierarchy
  • Premium invoicing of customers with customized payment plans
  • Payment engine to process payment including bank transfer or check
  • Payment engine to process recurring monthly customer payments for outstanding premiums
  • Automatic reminders and passing to collection agencies for overdue accounts
  • Direct interface to SAP FI-GL for posting premium revenue, claims and liabilities
  • Check management to void, reissue or cash checks
  • Automated returns processing functionality for rejected customer payments
  • Automated depreciation functionality for items within an adjustable tolerance
  • External interfaces to banks for processing incoming and outgoing ACH transactions, credit card transactions, payment transactions, check cashing, returns and positive payments
  • External interfaces enabling policy management systems to create billing data for clients and maintain policies
  • Flexible reporting solutions enable seamless access to customer activities
  • Integrated web portal for customers who pay bills online (Biller Direct)


VirtusaPolaris

On March 3rd, 2016, Virtusa Corporation acquired a majority interest in Polaris Consulting & Services Limited. VirtusaPolaris, our new market-facing brand, represents the combined strengths of Virtusa and Polaris, including our strong software engineering heritage, deep domain expertise and focus on applying innovation to solving critical core business issues for clients.

www.virtusapolaris.com, our new website is where we provide our latest thinking.