Telefónica Insurance S.A. is a Luxemburg insurance company with a licence to operate as an insurer in Spain, Germany, the UK, Ireland and other EU countries and belongs to the Telefónica group, which among other things operates the German mobile phone brands 02, eplus and other brands such as Fonic. The premiums of the policy holder are collected via subscription billing through the SEPA direct debit procedure or via the mobile phone invoice.
nexnet takes over the credit management and the monitoring and checking of all payments. In addition, in the case of damage the process of the exchange of the mobile phone, and where applicable, the payment of the deductible are is organized and monitored. Premiums that have not been successfully recovered are transferred in an automated process to the commercial dunning procedure. If the commercial dunning is not successful, the open receivables are transferred to Telefónica Insurance's collection partner.
nexnet carries out the sub-ledger accounting and sends a financial statement every month to Telefónica Insurance. nexnet also takes over the second level support for the clarification of queries regarding invoices, dunning and damage.