Insurers & commission rates
Keep the insurers and takaful operators you place business with, and dated commission rates per product. Policies already issued keep their rate.
Dated rates
Hayat ERPBY LEVEL 8 TECHNOLOGIES
Hayat ERP · Hayat Insurance
Quotes, policies, renewals and claims for insurance agencies and brokers.
Hayat Insurance runs an insurance agency, brokerage or takaful agency inside Hayat ERP. Quote several insurers side by side, issue the policy, collect the premium in one go or in instalments, and follow every claim until it is settled. Insurers and agents are paid through Purchasing, so your accounts stay in one place.
Insurers side by sideRenewal remindersCommissions & remittances
Features
From quote to renewal
The usual path is client, quote, policy, premium and renewal, with claims and commissions alongside.
Products
Each product has its line, the fields a policy must have, tax (FED / VAT), stamp duty and your policy fee. Issue refuses a policy with a required field missing.
Required fields
Quotes side by side
Compare up to 10 insurers on one quote: premium, sum insured, deductible, cover and commission. The cheapest option is highlighted.
Up to 10 insurers
Policies & instalments
Issue the policy with premium, tax, stamp duty and fee, in 1 to 12 instalments. Dues are invoiced to the client a few days before their date.
Agency or insurer collects
Premium receipts
Cash, card, JazzCash, Easypaisa, Raast, bank transfer, cheque or pay order, plus online pay links.
Collections
Endorsements & cancellations
Record cover changes with the premium difference. Cancel with a pro-rata or short-rate refund, shown in a preview before anything changes.
Refunds
Renewals
Staff are notified 30, 15 and 7 days before the end date, and the client can get a renewal reminder. Renew makes a draft for the next term.
30 · 15 · 7 days
Claims
Follow each claim from intimation through survey and review to approval and settlement, with encrypted notes, photos and an SMS to the client.
Intimation to settlement
Remittances & agent commissions
Remit premium to each insurer net of your commission as a Purchasing bill. Agents and sub-agents earn their %, with an override for the parent agent.
Purchasing bills
Accounts & reports
Money in the right accounts
No separate ledger: when the agency collects, each premium due is a Sales invoice to the client. Hayat moves the insurer's part to Premiums payable to insurers, your commission to commission income and the policy fee to fees. When the insurer collects, your commission is booked as receivable and cleared when the insurer pays you.
Claims money: the insurer pays the claim. Hayat records the approved and settled amounts and dates but posts nothing to your accounts.
Six reports: production, renewals due, claims ratio, commission receivable, remittance due and agent commissions, each downloadable as CSV. Hayat Reports has policy and claim datasets for your own dashboards.
Step-by-step guides are at help.hayaterp.com.
FAQ
Common questions
What is Hayat Insurance?
Hayat Insurance is the Hayat ERP module for insurance agencies, brokers and takaful agents. It covers insurers and commission rates, clients, quotes that compare insurers side by side, policies with instalments, endorsements, renewals, cancellations, claims, remittances to insurers and agent commissions.
Is it for insurance companies or for agencies?
It is for agencies, brokers and takaful agents who place business with insurers. You keep the insurers you work with, quote them side by side, and pay each insurer what is theirs net of your commission.
Does it work for takaful?
Yes. Takaful operators and takaful products are marked as such, and everything else works the same.
How are renewals handled?
Staff are notified 30, 15 and 7 days before a policy ends by default, and the client can get a Renewal due reminder. Renew makes a draft for the next term, where you may change the insurer, premium and sum insured.
How are agents and sub-agents paid?
Each agent has a commission %, and a parent agent can earn an override % on their sub-agents' policies. Commission is billed to the agent through Purchasing, by default only once the client has paid the premium.
Can clients pay their premium online?
Yes. Every issued policy has a private page on my.hayaterp.com where the client sees the dues and can pay online, and you can also send pay links.
Explore
Explore Hayat ERP
Book a call
See Hayat Insurance for your agency.
We'll show you the screens your business needs and send a quote within one business day.
Ali AbdullahChief Executive Officer
- sales@level8technologies.com
- Phone
- +92 303 506 1264
- +92 303 506 1264
- level-8-technologies
- Office
- Karachi, Pakistan