Insurance Product And Status Relation

Session settings are used for automatic termination of insurance policies or reinsurance based on a change in the status of the financing contract.

Both the Contract Status Change Wizard and the Mass Reinsurance Report go through the Insurance Product Status and Relation table.

To complete the setup, it is necessary to set up other code lists: detailed contract statuses, insurance company products, and framework contracts for removed items. Alternatively, a code list of commodities, catalogue groups, financing products and termination codes for reporting to insurance companies.

The code list is available via the magnifying glass, the Setup Manual or the Configuration Book. After confirming the selection, an overview of the set rows will open.

Description of key fields:

• Insurance Product No.

  • The user selects Product from the Insurance Products List, the base key for defining the relation

• Detailed Contract Status

  • The user selects a detailed status from the Detail Contract Statuses list for which he wants to enter a relation

• Object Category

  • The user selects the subject category as the next required key to enter the relation

• Commodity Code

  • The user can select the Commodity Code for which the relation will be set. If the field is blank, the relation applies to all commodities of that category, for the product and detailed status

• Group

  • Selecting a user, if the field is empty, the relationship applies to everyone.

Description of Semantic Fields:

• Terminate Insurance

  • Check the user to define the termination of the insurance contract for the given key (product, status, category, group)

• New Contract Required

  • By checking this box, the user instructs the wizard to create a new insurance contract when changing the status to the target detailed status in the key

• Mandatory Product – CR103

  • The user ticks the box when it is necessary to Status change The system checked that the insurance policy for this product would be valid after the date of the change in the financing contract.

• New Contract Length (months)

  • The user enters the number of months for which the system should create new insurance contracts

• Contract Prolongation Req. by Wizard

  • The user ticks the box in case of extension of the financing contract. If a financing contract is extended, it will automatically Extended i insurance contracts for the same period.

  • Automatic Renewal Expires on Insurance Contracts Occurs at Startup   Contract Length Change Wizard.

• Property Framework Agreement No.

  • The user enters the default framework agreement for the automatic creation of an insurance contract – property insurance of removed objects

• Liability Framework Agreement No. (UGS)

  • User enters the default framework agreement for automatic creation of insurance contract UGS of removed objects

• Termination Code

  • The user enters the termination code, selection from the user code list, which will be added to the terminated insurance contracts, when changing the product defined on the line.

  • If the status change was triggered by the user from an insured event, the system transfers the termination code from the insured claim type to the terminated insurance contracts.

• Calculate Fuse Period Before (Calc. Insurance Period Before)

  • When activated, the setting creates over-insurance for the period from the registration of the vehicle to the receipt of the object by the client.

• Financial Leasing / Operative Leasing / Credit / Instalment Sale / Fleet Management

  • Define the validity of settings for individual products

• Product Code

  • The user can select a specific financing product for which the relation will be set up. If the product key is empty, the relation applies to all financing products.