Hello Community,
I am not familiar with either Dynamics 365 for Finance or Business Central, and would appreciate some advice regarding the following sets of client requirements I am evaluating. The client is in the insurance industry, handling insurance policies, premium payment, and claims process and payment for their insured members.
Sample requirements:
1. Account Level Premium Billing
- Need to track payments coming into an account and their application to the individual members/policies in that account
- Need to be able to transfer money from a policy/account to another policy/account; these may be different billing accounts
2. Reserving Practices
- Cash flow based reserving algorithm
- Need ability to access data for actuarial “restatement” process for reserving studies
3. Experience Rating Calculation Area
- Calculate the experience rating factor based on formulas
- Store and view underlying data for the experience mod factor as well as utilize it in premium calculations
4. Loss Detection
- Soliciting/surveying members for list of all claims
5. Batch Processing and On-off Processing
- Ability to do processes either individually or in batch
I am more experienced with the Customer Engagement side of Dynamics 365 (i.e. Sales, Customer Service). Looking at the requirements above, I feel they would probably be a better fit for Dynamics 365 for Finance or Business Central. Am I correct? Is one better than the other if that's the right direction?
And can the Sales/Customer Service app be used and integrate with the Finance/Business Central app smoothly?
Any feedback would be greatly appreciated!
Thank you!
