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Individual Insurance not Included in Payments

Individual Insurance not Included in Payments

Owned by Lango: Language and translation manager
Last updated: Sept 04, 2024Version comment
5 min read

An individual insurance contract is:

  • Contract negotiated outside the framework contracts of the leasing company

  • Insurance premiums are not part of the payment schedule

  • The contract serves as a record of the agreed insurance of the given object (vinculation, settlement of insurance claims).

Records related to individual insurance:

  • Insurance Individual Contract

    • Insurance contracts filtered to Insurance Type = Individual

  • Pledge of Insurance

    • Records of Insurance Indemnity Insurance Indemnity

  • Individual Insurance Debtors

    • Registration of defaulters on the basis of reminders sent by the insurance company

  • Individual Insurance Cancellations

    • Records of contracts terminated due to non-payment of insurance

Insurance Individual Contract Creation

An individual insurance contract is based on the Insurance Contract List for the subject of financing.

  • Create – New Individual Contract

  • The Framework Agreement Types table is displayed, filtered to Insurance Type = Individual. The user selects the contract type on the basis of which a new individual insurance contract is created.

A number series can be set up on the framework agreement type for numbering individual insurance contracts. After assigning an insurance contract number from the number series for individual contracts, it can be transferred to the card intended for IPZ.

After selecting the framework agreement type, the Individual Insurance Contract Card opens.

Insurance Individual Contract Card

The Individual Insurance Contract Card and the Insurance Contract Card with Premiums in Installments are the same table. Some fields are hidden on the Individual Insurance Contract Card because the user does not need to record them in the case of individual insurance contracts.

It is possible to display the individual insurance contract card from the list of individual insurance contracts by clicking on the selected record or from the list of all insurance contracts using the option Process and Individual contract card.

By using the above function, the system will open a card with fewer fields. By opening the system from the insurance contract overview by default, the system displays the complete insurance contract card.

The individual insurance contract card has the following tabs:

  • General

  • Other Insurance Conditions

  • Costing

  • Subject.

General Tab

Field:

  • No. (No.)

    • Allocates the system according to the number sequence settings

  • Description

    • Populated by the user

  • Framework Agreement Type Code

    • Will the system complement the type of framework agreement selected by the user when creating an individual insurance contract

  • Insurance Type

    • Completes the system according to the selected type of framework agreement

  • Insurance Subtype

    • Completes the system according to the selected type of framework agreement

  • Insurance Company No. (Insurance Comapny No.)

    • To be filled in by the user when creating an insurance contract manually or to add to the system when creating an insurance contract using the wizard from the settings on the financing template

  • Insurance Company Name

    • Fills in the system according to the Insurance Company No.

  • Insurance Product No.

    • To be filled in by the user when creating an insurance contract manually or to add to the system when creating an insurance contract using the wizard from the settings on the financing template

  • Insurance Product Name

    • Completes the system according to the selected product number

  • Product Variant Code

    • To be filled in by the user when creating an insurance contract manually or to add to the system when creating an insurance contract using the wizard from the settings on the financing template

  • Product Base Type

    • Completes the system by Product No.

  • Status

    • At the time of incorporation, the insurance contract is in the following status: Preparation, when the financing contract is activated, the insurance contracts take on a status Active

    • Possible insurance contract statuses:

      • Preparation

      • Active

      • Change Copy

      • Unrealized

      • Canceled

      • Closed

  • Valid From

    • Insurance Contract Validity Begins

    • When creating insurance policies before activating the financing contract, the system fills in the automatic data from the Expected Handover Date from the header of the financing contract. When activated, it changes to Handover Date

    • When re-insuring after activation, the system will add to the field Valid From Current Date - The date of creation. This date can be manually edited by the user

  • Valid To

    • Insurance Contract Expiration

    • The system automatically fills in the data from the field Expected Termination Date from the header of the financing contract, the user can manually change the

    • To terminate the insurance contract without any further changes to the financing contract, the user enters Valid To manually

  • Insurance Duration (month)

    • The system will fill in the number of months of insurance duration according to the dates in the fields Insurance Payment From and Insurance Prescription Date To

  • Draft No.

    • The user can fill in the insurance contract draft number

    • The system uses the fields when reporting and matching insurance commissions

  • Insurance Company Contract No.

    • The user can fill in the insurance contract number under which the insurance company maintains the policy

    • The system uses insurance commissions when matching

  • Pledge Of Insurance Released

    • If an individual property insurance policy is specified in the contract, the insurance contracts will also be activated when the contract is activated. When an individual policy is activated, an insurance pledge is created in the insurance in the status Undelivered.

From the Financed Object and the Financing Contract, the system completes the following fields:

  • Financing Contract No.

  • Financed Object No.

  • Financed Object Name

  • Licence Plate No.

  • Customer No.

  • Customer Name

Other Insurance Condition Tab

Field:

  • Participation Participation % %, Participation ABS, Participation MIN (Participation MIN), Participation MAX (MAX)

    • Completes the system as defined on the selected Variant

  • Salesperson No.

    • The system will add the seller number from the financing contract

  • Insurance Agent

    • Completes the system from settings to Framework Agreement Type, the user can also select from Contacts

Calculation Tab

Field:

  • Calculation Method

    • The user selects from the following options:

      • Sum (Sum)

      • Percent

      • Manual

  • Insurance Company Year Amount

    • User enters manually

  • Insurance Value

    • Fills the system Insurance Amount z Contract Calculation Input for the procurement price of the object

  • Insurance Company Rate

    • User enters manually

  • Year Insurance (First Period Free)

    • User enters manually

  • Insurance Payment From

    • The system will fill in the date from the field Valid From

Object Tab

  • The Subject tab field fills the system with values from before financing

  • The fields are non-editable, the user cannot change them.

For an Individual Insurance Contract, the system does not create Client Calendar nor Insurance Company Calendar.

When calculating an insurance contract, it creates only Commission Calendar, In the event that:

  • On the Framework Agreement Type, there is a field Don't Calculate Commissions = No

  • The insurance company's product has a defined insurance revenue commission