- The Story
INTERAMERICAN partnered with ITBS to design and implement a comprehensive, BPM-driven platform for managing receivables, credit exposure, collections, payment instruments, and legal actions across the full customer lifecycle.
Founded in 1969, INTERAMERICAN has been a leader in the Greek insurance market for more than 45 years. Named by World Finance as the top insurance company in Greece, the organization serves over one million individual and corporate customers across all insurance lines, operating through a sophisticated multi-channel distribution model. INTERAMERICAN is a member of the ACHMEA Group, one of Europe’s largest cooperative insurance organizations, with over 200 years of experience.
As the organization scaled its operations and customer base, the complexity of managing receivables, payment instruments, and legal recovery processes increased significantly making process consistency, transparency, and control critical success factors.
The Challenge: Managing Credit Exposure and Receivables at Scale
INTERAMERICAN’s operations involve a wide range of financial interactions with customers, including premium receivables, post-dated and transferred cheques, guarantees, negotiated settlements, and – when required – legal proceedings.
Key challenges included:
Limited end-to-end visibility across receivables and payment instruments
Fragmented handling of cheques, guarantees, and settlements
Inconsistent application of collection and escalation procedures
Manual effort in tracking overdue balances and legal cases
Difficulty in aligning operational actions with accounting and compliance requirements
The organization needed a single, process-governed solution capable of supporting the full receivables and credit lifecycle while remaining flexible and configurable.
The ITBS BPM Solution
ITBS implemented a BPM-based Receivables, Credit & Legal Process Management platform, structured around clearly defined, end-to-end business processes and governed workflows.
The solution covered the following functional domains:
Centralized visibility of receivables, overdue balances, customer portfolios, and collection activities, supported by alerts and configurable business rules.
Full handling of current and transferred cheques, including incoming items, portfolios, partial collections, bounced cheques, write-offs, accounting postings, and historical archives.
Portfolio-based management of customer guarantees, including movements, returns, write-offs, and configuration.
Structured handling of negotiated repayment plans and settlements to support controlled revenue recovery.
Integrated management of legal actions, court cases, case categorization, and supporting legal information.
Detailed analysis of receivables, bounced cheques, and recovery performance, with accounting postings and reconciliation support.
Results and Business Impact
By implementing a BPM-driven, end-to-end solution, INTERAMERICAN achieved significant operational and organizational benefits:
Improved visibility and control across receivables, cheques, and guarantees
More consistent and effective collections, driven by standardized processes
Earlier identification of payment risk, reducing defaults and revenue leakage
Structured escalation to legal actions, with full auditability
Reduced manual effort and operational complexity
Stronger governance and compliance, aligned with group-level standards
The platform enabled INTERAMERICAN to manage financial exposure proactively while maintaining flexibility and customer sensitivity.
Conclusion
For large, multi-channel insurance organizations, managing receivables and credit exposure requires more than isolated collection activities it demands end-to-end process orchestration, governance, and transparency.
Through its BPM-based approach, ITBS helped INTERAMERICAN transform receivables, credit, and legal operations into a unified, scalable, and future-ready capability. This case study demonstrates how Business Process Management can directly support financial resilience, operational excellence, and sustainable growth in the insurance sector.
