VInsure
The insurance general ledger
Double-entry and always balanced: an entry that doesn't balance is refused.
“Issue a policy, open the ledger, and the entry is already there: balanced and fund-tagged.”
“Click a claim number and see its whole money story.”
Permanent history: mistakes are corrected with a visible reversal, never by editing the past.
Takaful-aware: every line is tagged to the right fund (participants' risk fund or shareholders' fund). The operator (Wakala) fee is booked on every contribution, within its cap.
Automatic posting: policy issued → debit note and receivable. Claim paid → credit note and payable to the right payee. Salvage, cash settlement, recoveries and bodily injury → booked. Cancellation → refund and commission clawback. Month end → reserve movement.
Gap-free numbering for debit notes, credit notes and journals.
Nightly self-checks look for unbalanced, duplicate, stale or wrongly-funded entries and raise an alert.
Chart of accounts managed in the portal.
A claim's whole money story on one page: reserve, settlements and recoveries.
Collections, payments and balances
Receipt and payment vouchers clear exact open balances, including partial payments (oldest first), with bilingual voucher PDFs.
Outstanding receivables and payables with 30/60/90/120+ aging.
Statements of account for brokers, agencies, garages, contractors and government entities.
Close, controls and tax
Month-end close with soft and hard period locks, a close pack, a trial balance per fund, and two-person approval.
Manual journals with maker-checker: the person who makes a journal cannot approve it.
Finance audit trail of every action, kept permanently.
UAE VAT: 5% calculated on every document, a VAT document register and a VAT-return pack.
Ready for UAE e-invoicing: invoices generated and validated, ready for the accredited provider.
Claim reserves: a nightly reserve register and a month-end reserve capture.
Reinsurance (Retakaful)
Hold your whole reinsurance programme in the system. Policies are ceded automatically, claims are checked against your treaties, and quarterly statements come out ready to settle.
“Treaties as data, not spreadsheets. Every policy is ceded the moment it's booked.”
Registers for reinsurers, brokers and treaties, with maker-checker and version history. Panel shares must total 100%.
Proportional (quota share and surplus) and excess-of-loss treaties.
Automatic cession of every booked policy: retained versus ceded, per reinsurer.
Claim recoveries from reinsurers, and a large-loss monitor against your excess-of-loss layers.
One statement per treaty, per reinsurer, per quarter: approve, post and settle through normal vouchers.
Regulatory default-risk reserve accrued monthly.
Counterparty security report (reinsurer ratings and exposure), ceded summary and RI dashboard.
IFRS 17 reporting built on your own ledger
Every figure traceable to its policy.
Earned and unearned premium (UPR) and deferred acquisition cost (DAC), calculated per policy per month from the company's own ledger.
Actuarial inputs uploaded and versioned (IBNR, risk adjustment, discount curve), with maker-checker.
Repeatable month-end provision runs, each number traceable to its lines.
IFRS 17 measurement from the same data, including the reinsurance share and the Takaful fund view.
Claim triangles and the Central Bank quarterly returns, produced from the ledger.
A sign-off step before figures are released.
Every event writes the books.
Business events post to one balanced, fund-tagged ledger. Reinsurance, IFRS 17 and reporting read from it.