At SaasWorx, we implement the NetSuite policy administration integration as a complete insurance finance automation platform. When a policy is issued, renewed, endorsed, or lapsed in your policy administration system, NetSuite receives the event in real time and posts the correct accounting entries premium earned, unearned premium reserve, GST liability, reinsurance cession, and agent commission payable without any manual journal entries or batch upload processes. Your finance team shifts from posting entries to reviewing exceptions, and your IRDAI compliance reporting is generated from accurate, real-time financial data rather than reconciled extracts from multiple systems.
500+
Projects Delivered
60+
Certified NetSuite Professionals
18+
Years of Expertise
6+
Countries Global Presence
As a certified Oracle NetSuite partner with deep cross industry expertise, SaasWorx brings hands-on implementation experience tailored to the unique demands of growing businesses from startups and mid-sized firms to multi subsidiary enterprises. We help organisations achieve full financial visibility, regulatory compliance, and the operational agility required to scale with confidence.
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Seamless Bidirectional Policy and Finance Data Sync : SaasWorx synchronises your policy administration system with NetSuite in real time, connecting policy events, premium transactions, commissions, and claims payments. Eliminate manual entries, reduce reconciliation errors, and keep finance aligned with your live policy portfolio.
02
Automated Financial Reconciliation for Amazon India Settlements: Automate every finance workflow triggered by policy lifecycle events with SaasWorx. From premium accruals and reserve calculations to agent commissions, TDS deductions, and reinsurance postings, our integration reduces manual work and gives your finance team more time for analysis and compliance.
03
Scalable Integration for Growing Insurance Portfolios: SaasWorx delivers a scalable policy administration integration architecture that grows with your business. Whether premium volumes increase or new products require different accounting treatment, the integration adapts without re-engineering, protecting your technology investment as your insurance portfolio expands.
From real-time unearned premium reserve management to IRDAI financial statement preparation, SaasWorx's NetSuite policy administration integration creates measurable value across every function of an Indian insurance finance organisation.
Every policy event new business issuance, renewal, midterm endorsement, cancellation, or lapse triggers the correct accounting entries in NetSuite automatically. Premium written is posted to the correct GL account, unearned premium reserve is calculated and maintained, and deferred acquisition cost entries are created all without manual journal entries from your accounts team.
Insurance premiums attract GST at applicable rates, with specific treatment for life insurance, health insurance, and general insurance products. SaasWorx configures NetSuite to apply the correct GST rate to each premium transaction, generate GST-compliant tax invoices to policyholders, capture input tax credit on eligible business expenses, and produce the data required for GSTR-1 and GSTR-3B filing without manual computation.
Commission payable to agents, brokers, and corporate agents is calculated from policy data and posted to NetSuite accounts payable automatically. SaasWorx configures TDS deduction under Section 194D on commission payments, maintains TDS payable accounts, generates Form 26Q return data, and produces Form 16A certificates for agents eliminating the manual commission computation that currently drives month-end reconciliation pressure.
For general and life insurers managing treaty and facultative reinsurance arrangements, SaasWorx configures NetSuite to post reinsurance cession entries premium ceded, commission on cession, and claims recovery receivable automatically from the reinsurance data fed by the policy administration system. Reinsurance receivables are tracked and aged in NetSuite, supporting your reinsurance settlement process.
Correct unearned premium reserve management is a regulatory and accounting requirement for all insurance companies. SaasWorx configures NetSuite to maintain UPR balances at the policy level updated in real time as policies are issued, renewed, cancelled, or expire giving your finance team accurate reserve positions for monthly and quarterly financial reporting without manual reserve calculation spreadsheets.
Claims payments need to be reflected in NetSuite as a liability at notification, an expense at settlement, and a recovery receivable when salvage or reinsurance recovery is expected. SaasWorx configures the complete claims accounting workflow in NetSuite drawing claim event data from your policy administration or claims management system and posting the correct GL entries for each claim lifecycle stage.
IRDAI-regulated insurers and brokers are required to maintain Revenue Accounts, Profit and Loss Accounts, and Balance Sheet data in the format prescribed by the Insurance Act and IRDAI regulations. SaasWorx configures NetSuite chart of accounts and financial statement formats aligned to IRDAI requirements enabling regulatory reports to be generated directly from NetSuite without reformatting from raw GL data.
Insurance companies writing multiple lines of business motor, health, property, liability, life need financial results reported separately by line of business for IRDAI regulatory purposes and internal management reporting. SaasWorx configures NetSuite class and department segmentation to maintain clean financial separation by line of business while supporting consolidated group-level reporting.
Insurance groups operating multiple entities an insurance company, a holding company, and a broking subsidiary need NetSuite configured to eliminate inter-company transactions and produce consolidated financial statements. SaasWorx implements inter-company accounting automation and group consolidation workflows in NetSuite removing the manual spreadsheet consolidation that currently extends your financial close cycle.
Discover how SaasWorx automates premium accounting, GST compliance, agent commission management, and IRDAI financial reporting by building a live integration between your policy administration platform and NetSuite eliminating manual journals and month-end reconciliation backlogs entirely.
SaasWorx delivers end-to-end NetSuite policy administration integration services for IRDAI-regulated insurance companies and brokers from process design and data mapping through implementation, compliance configuration, and post-go-live support.
SaasWorx delivers NetSuite policy administration integrations tailored for Indian insurance accounting, IRDAI compliance, and ERP complexity. Our team combines expertise in insurance finance, regulatory reporting, and NetSuite implementation to meet real operational requirements.We automate premium accounting, reserves, reinsurance, claims provisions, and GST within a unified NetSuite setup, while enabling IRDAI-aligned reporting and Ind AS-compliant financial statements directly from the general ledger.With 500+ clients, 60+ professionals, 18+ years of expertise, and a presence in 6+ countries, SaasWorx is a trusted NetSuite partner for IRDAI-regulated insurance entities.
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VP Finance, To The New
Financial Controller, Silverpush
DGM, Bajaj Finance Ltd.
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