Fabrick’s Payment & Collection Engine solution brings the benefits of open finance to the insurance world
Net Insurance, by integrating the service offered by Fabrick into its systems, makes the management of the most complex peculiarities of the insurance world even more fluid and simple.
Thanks to its partnership with Fabrick, Net Insurance has become the first company to use an Account Aggregation solution to optimise its relationship with the various banks it works with.
Fabrick’s solution provides access to the operations of the current accounts of insurance companies and intermediaries in the distribution network, allowing the insurance company itself to view all movements from a single platform.
Among the peculiarities of the insurance world, Net Insurance is able to manage, thanks to Payment & Collection Engine, the automatic division of payments between the different actors and the splitting of premiums, but also the remote sale with direct crediting to the company’s accounts.
Why did Net Insurance choose Fabrick as a partner?
In Fabrick, Net Insurance, has found a partner with whom it shares the same vision, that of the value of hybridisation between the traditional insurance market and new ‘tailor-made’ solutions based on specific verticals, while maintaining high standards of quality. Thanks to this partnership, the company can create new business models and services, through collaboration between traditional financial institutions and new technology companies, while at the same time equipping itself with the broadest possible set of electronic payment tools.
The Net Insurance – Fabrick partnership was created specifically to offer intermediaries a solution to capture all payments and also to enable the reconciliation of all bank transfers within the ERP systems used by the accounting department.
Fabrick solutions involved
Shaping finance, together
By integrating this Fabrick solution into its business systems, Net Insurance has optimised and automated the payment process and its reconciliation, thanks to centralised and controlled upstream management. Find out more.