BFS Version: 2.02
To create an insurance program navigate to Insurance in the top menu and then select Insurance Programs.
To be able to create an insurance program there has to be an insurance type in the system with the status Open.
Fill out the form.
The various values are described in the table below.
Property | Description | ||||||||||
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Key | Used to uniquely identify this product. | ||||||||||
Name | Display name for product. | ||||||||||
No | The product number | ||||||||||
Status |
| ||||||||||
Insurance Type | The type of insurance (Create Insurance Types) | ||||||||||
Insurance Category | The insurance category | ||||||||||
Product supplier | The Legal Entity that is the insurance supplier | ||||||||||
Broker | The Legal Entity that is the broker of the product | ||||||||||
Partner | The associated reseller | ||||||||||
Administrator | The appointed administrator of the insurance product | ||||||||||
Account Manager | the appointed account manager of the product | ||||||||||
Claims Adjuster | The appointed claims adjuster of the product |
Property | Description |
---|---|
Description | Description of the insurance product. |
Insurable Interest | The interest amount in a given month expressed in currency value. |
Insurance Term | The max term of the underlying loan e.g. a consumer loan with max 144 months. |
Product Version | The version of the product |
Sale Method | Also called Point of Sale (POS) and is e.g. DM, TM, inbound, shop etc. |
Terms No | Term number for insurance product. The number that the terms and conditions document has (often ”Year+X). |
Terms Url | URL to terms for insurance product. |
Property | Description |
---|---|
Gross Premium | The price that the consumer pays. |
Premium Based On | The variable that the price of the insurance is calculated on e.g. % of monthly installment or % of the outstanding balance etc. |
Risk Premium | The premium kept by the product supplier |
Charge Interval | The payment interval |
Commission | The percentage value offered in commission for resellers. |
Retention | The retention percentage |
Insurance Tax | The percentage value for tax |
Profit Share | The percentage for profit share |
Currency | The currency of the insurance product |
External Reference | A value that can identify the insurance product for an external system. |
Comment | A free text comment |
Parameters | Custom parameters. For example if a car insurance policy is created and the brand of the car should be stored and the production year the contents of this property could be "brand: Ford" and "Year: 2016". |
Property | Description |
---|---|
Deal Type | This value can be either "Direct" or "Third Part" |
Start Date | Start date for the insurance product. |
End Date | End date for the insurance product. |
Period Of Notice | Period of notice for the insurance product. Periods until termination. |
To be able to associate an insurance cover there has to be an insurance cover in the system with the status Open.