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Mass insurance contract change: Change / Termination / Creation

Mass insurance contract change: Change / Termination / Creation

Owned by Lango: Language and translation manager
Last updated: Nov 20, 2024Version comment
17 min read

Job Mass Insurance Contract Change Can be run from the Role Center Insurance across Actions/Changes/

A multiple task creates change copies of a financing contract and changes insurance on them. The adjusted rates are stored for the modified insurance contract in the Insurance Contract Rate Changes table. The calculation of the insurance policy after modification is carried out in a standard way using the entry in the table of changes with regard to the validity of the rate.


User Setup

The right to run a batch task or edit "change of insurance contract rate" is granted only to the user who has checked the field in the user settings Allow Change Insurance Contract Rate (Allow Change Insurance Contract Rate).

User Setup (User Setup) is described in detail in the PD_Business Settings document.

Contract Change Queue Sheet

It is necessary to set the "code" to the table for the batch job Contract Change Queue Sheet (Contract Change Queue Batch) for a bulk job. The worksheet must have a check mark in the Insurance Contract Change field (Insurance Contract Change).

Types of Mass Insurance Changes

It is necessary to create for a mass change of the rate of insurance contracts Insurance Mass Change Type (Insurance Mass Change Types).

  • Code (Code)

    • The user enters the type of mass insurance change

  • Description (Description)

    • The user enters a description

  • Type of Change (Type of Change)

    • User selects Change Insurance Rates from the list

  • Contract Change Type (Contract Change Type)

    • User selects a change from the Contract Change Types table

    • It will be saved in the Contract Change History after the change is made

  • Contract Change Queue Sheet (Contract Change Queue Sheet)

    • The user selects the Contract Change Queue Sheet from the table, filtered to Insurance Contract Change flag

  • Insurance Termination Code (Insurance Termination Code)

    • Prepared for mass fuse termination - CR 164

Mass Rate Change of Insurance Contracts

A user with permission can run a mass task directly from the menu of the Insurance rollcenter (Insurance).

Specifying Job Parameters and Filters

The system opens a dialog box for entering the job parameters in the Options section (Option).

To change insurance rates, the following parameters are mandatory:

  • Insurance Company No. (Insurance Company No.)

    • It is necessary to select the insurance company for which the rates are changing

  • Insurance Product No. (Insurance Product No.)

    • You need to select an insurance product

  • Change Valid From (Change Valid From)

    • The user enters the beginning of the validity of a new rate, changed by the coefficient

  • Tenant Coefficient (Client Coefficient)

    • The user enters the coefficient for the recalculation of the insurance rate towards the client

    • If the rate does not change for the client, the user enters a coefficient of 1

  • Insurance Company Coefficient (Insurance Company Coefficient)

    • The user enters the coefficient for the recalculation of the insurance rate against the insurance company

    • If the rate with respect to the insurance company does not change, the user enters a coefficient of 1

In addition to the mandatory parameters, the user can restrict the rate changes by other parameters, e.g. only change the rates for a specific variant of the insurance product, etc.

On the Options tab in the first part of the dialog box, the user can enter data into the following fields:

  • Reason for Termination of Insurance Contract(Insurance Contract Termination Reason)

    • If the termination code is set on the Insurance Mass Change type, the system will pre-fill it. The user can change.

    • The reason for termination is then filled in by the system on the terminated insurance policy for possible use in reports.

  • Note (Descript)

    • The user can enter a text that the system will write into the Contract Change History for individual contracts that it processes

In the second part of the dialog window, it is possible to specify by means of filters over which financing contracts the change should be made.

The user can select a filter based on the fields from the header of the financing contract, e.g. a specific customer. Then the system looks for insurance policies only in the customer's contracts.

If the user does not specify any filter in the Filter: Financing Contract Header section, the system would perform the change over the entire portfolio of leasing contracts. Therefore, it prints a warning.

After pressing Yes, it will start changing insurance policies over all leasing contracts, which can be time-consuming.


Controls

After confirming "OK", the task will check the required fields in the dialog box:

  • Type of Change

  • Insurance Company No.

  • Insurance Company Product No.

If all required fields are not entered, it warns with an error message. If the dialog box is filled in correctly, the system continues with checks:

  • Checking the Contract Change Queue Sheet

    • The Contract Change Queue sheet for the Insurance Contract Change Queue must be empty. The previous change must be processed, i.e. the change copies are "transferred" or "deleted". Otherwise, the system outputs an error message:

 

image-20240617-185858.png

  • Checking Financing Contracts

    • The system goes through the leasing contracts that match the filters entered in the dialog window and at the same time there is an insurance contract of the selected insurance company and product, valid at the time of the start of the change. Contracts must be in the status "Active", this is not a variant, i.e. the system adds fixed filters of the financing contract to the filters entered via the dialog window:

      • Calc.Variant = No

      • Status = Aktive

  • Change Copy Check

    • The system goes through leasing contracts and checks whether they are change copies. If there is one, it will record an error message in the Insurance Contract Change Log "Financing Contract XXX is a Change Copy. Insurance contract will not be processed" and the system continues on the next contract.

  • Contract Payment Calendar Checks:

    • Whether at least one regular payment has been posted.

      • If no such payment exists (i.e. the contract is after activation and before the first regular payment is posted), then it writes an error message into the Insurance Contract Change Log, records an error message and does not process this contract and continues with the next contract.

    • Checking Posted RS Payments

      • On contracts, it checks whether the contract has an unposted RS payment. If such a contract exists, it does not process this contract, enters it into the Insurance Contract Change Log and continues to the next contract

    • Check for unposted regular payment

      • It checks the contracts to see if the contract has yet to be accounted for a due payment. If such an installment does not exist, it does not process this contract, but enters it in the Insurance Contract Change Log and continues to the next contract.

      • Note: If the last payment is posted on the contract and the automatic renewal will not take place until the next month is posted, a change copy will not be created for that contract and the contract will not be included in the queue for changes to the insurance contract

The task continues by creating change copies of financing contracts that have successfully passed the checks, writing them in the Contract Change History, changing the insurance policies on the change copy, and writing them in the Insurance Contract Change Queue.

At the end, he writes a summary of changed and erroneous contracts:

 

image-20240617-190129.png


Changes made to the change copy

The Insurance Contract Change Queue sheet is filled

It is important to select Sheet Name (Batch Name).

In the queue for changes to the insurance contract, there is information about the change, the leasing contract and the insurance policy:

  • Queue Sheet Name (Description of Contract Change Queue Sheet)

  • Entry No. (Entry No.)

  • Date Changed (Date Change)

    • Contains "Change Valid From" when the job is run

  • Type of Change (Type of Change)

    • Which type of mass insurance change has been triggered

  • Financing Contract No. (Financing Contract No.)

  • Customer No. (Customer No.)

  • Customer Name (Customer Name)

  • Contract Status (Contract Status)

  • Detailed Contract Status (Detail Contract Status)

  • Object Handover Date (Handover Date)

  • Expected action (Expected Termination Date)

  • Financing Period (Financing Period in Months)

  • Insurance Contract No. (Insurance Contract No.)

  • Insurance Contract Valid From (Insurance Contract Valid From)

  • Valid To Insurance Contract (Insurance Contract Valid To)

  • Insurance Company No. (Insurance Company No.)

  • Insurance Product No. (Insurace Product No.)

  • Framework Agreement No. (Framework Agreement No.)

  • Set No. (Set No.)

  • Original Tenant Monthly Insurance Amount (Original Client Month Amount)

    • Amount before change

  • New Tenant Monthly Insurance Amount (New Client Month Amount)

    • Amount after change

  • Original Insurance Company Monthly Amount (Original Company Month Amount)

    • Amount before change

  • New Monthly Insurance Company Amount (New Company Month Amount)

    • Amount after change

  • User ID (User ID)

On the change copy, there is a change in the insurance contract rate on the relevant insurance contract.

In the header of the policy, there are the original values of the rate and the annual/monthly premium.

 

 

Original Tenant Year Insurance Amount = 13,725.6:

602,000 / 100 * 2.4 (rate) * 0.95 (final coefficient) = 13,725.6

Original Annual Insurance Company Premiums = 13,725.6:

602,000 / 100 * 2.4 (rate) * 0.95 (final coefficient) = 13,725.6

 

According to the recorded change in the insurance contract, the current annual/monthly premium is also calculated:

 

 

Up-to-date Tenant Year Insurance Amount = 20,588.4:

602,000 / 100 * 3.6 (rate) * 0.95 (final coefficient) = 20,588.4

Up-to-date Annual Insurance Company Premiums = 30,622.51

602,000 / 100 * 3.12 (rate) * 0.95 (final coefficient) = 17,843.28

 

Insurance calendars are calculated at the changed rate from the beginning of the date of the respective change until the end of the contract.

The record is registered in the Insurance Contract Change Queue.

A record of changes to insurance contracts is also in the Insurance Contract Change Log.

Table Insurance Contract Change Log (Insurance Contract Change Log) It contains the following information:

  • Entry No. (Entry No.)

  • Financing Contract No. (Financing Contract No.)

  • Insurance Contract No. (Insurance Contract)

  • Type of Change (Type of Change)

    • What type of change the task was run with.

    • The log is common for all three types of mass changes to insurance contracts

  • Financing Contract Filter (Financed Contract Filters)

    • The system saves the filter above the financing contract header when the job is started

  • Result (Result)

    • A positive result is marked as Success, a negative result as an Error

  • Error Text (Error Text)

    • In the event of an error, an error message is logged

  • Change Copy (Change Copy)

    • Change Copy Operation - whether Transfer or Delete of Change Copy has occurred

  • User ID (User ID)

    • The user who performed the action

For each financing contract, an entry is made in the Contract Change History overview (Contract Change History) .

"Change Code" (Contract Change Type) in the history of contract changes according to the setting to "Insurance Mass Change Type" (Insurance Contract Change).

If a user entered a "note" when running a task, its text was transferred to the contract history.

Completion of Mass Insurance Contract Change

The user can check the results of the change copies from the change queue of the insurance contract and then transfer the change copies or delete the change copies.

It is possible to select and transfer or delete selected change copies via the mark.

Or perform a Mass Transfer or Deletion.

If the processed batch is not on the queue sheet of insurance contract changes, it is not possible to insert another batch via the batch job.

Starting via the scheduler

The task is modified so that it is possible to run via the scheduler - the Schedule button... (Schedule...) in the dialog box.

 

The user enters the appropriate filters (described above) within the dialog box. Then it does not continue with the OK button, but with the Plan... (Schedule...).

If the task will be run via the Schedule... (Schedule...), the processing is taken over by the scheduler, then the presence of the user is not required during the process.

The task is modified so that if it is run via Schedule, it does not display any messages.

According to the scheduled date and time, the task will create a change copy, change insurance and write it to the insurance change queue and to the change log.

Mass Termination of Insurance Contracts

A user with permission can run a mass task directly from the menu of the Insurance rollcenter (Insurance).

Specifying Job Parameters and Filters

The system opens a dialog box for entering the job parameters in the Options section (Option).

To terminate insurance contracts, the following parameters are mandatory:

  • Insurance Company No.

    • It is necessary to select the insurance company for which the rates are changing

  • Insurance Product No.

    • You need to select an insurance product

  • Change Valid From (Change Valid From)

    • The user enters the end date of the insurance contracts, that is, Valid to on the policy

  • Reason for Termination of Insurance Contract(Insurance Contract Termination Reason)

    • If the termination code is set on the Insurance Mass Change type, the system will pre-fill it. The user can change.

    • The reason for termination is then filled in by the system on the terminated insurance policy for possible use in reports.

  • Note (Descript)

    • The user can enter a text that the system will write into the Contract Change History for individual contracts that it processes

In addition to the mandatory parameters, the user can restrict the termination of insurance policies by other parameters, e.g. only terminate insurance policies with a specific framework agreement, etc.

In the second part of the dialog window "Filter:Financing Contract Header" it is possible to specify over which financing contracts the change is to be made.

If the Mandatory Product field is checked on the insurance product (Mandatory Product).

The system will display a warning on mass termination if you really want to terminate a mandatory product.

After selecting a product, it prints a warning:

 

After pressing Yes, it will terminate according to the specified parameters.

Controls

After confirming "OK", the task will check the required fields in the dialog box:

  • Type of Change

  • Insurance Company No.

  • Insurance Company Product No.

If all required fields are not entered, it warns with an error message. If the dialog box is filled in correctly, the system continues with checks:

  • Checking the Contract Change Queue Sheet

    • The Contract Change Queue sheet for the Insurance Contract Change Queue must be empty. The previous change must be processed, i.e. the change copies are "transferred" or "deleted". Otherwise, the system outputs an error message:

  • Checking Financing Contracts

    • The system goes through the leasing contracts that match the filters entered in the dialog window and at the same time there is an insurance contract of the selected insurance company and product, valid at the time of the start of the change. Contracts must be in the status "Active", this is not a variant, i.e. the system adds fixed filters of the financing contract to the filters entered via the dialog:

      • Calc.Variant = No

      • Status = Aktive

  • Change Copy Check

    • The system goes through leasing contracts and checks whether they are change copies. If there is one, it will record an error message in the Insurance Contract Change Log "Financing Contract XXX is a Change Copy. Insurance contract will not be processed" and the system continues on the next contract.

  • Contract Payment Calendar Checks:

    • Whether at least one regular payment has been posted.

      • If no such payment exists (i.e. the contract is after activation and before the first regular payment is posted), then it writes an error message into the Insurance Contract Change Log, records an error message and does not process this contract and continues with the next contract.

  • Checking Posted RS Payments

    • On contracts, it checks whether the contract has an unposted RS payment. If such a contract exists, it does not process this contract, enters it into the Insurance Contract Change Log and continues to the next contract

  • Check for unposted regular payment

    • It checks the contracts to see if the contract has yet to be accounted for a due payment. If such an installment does not exist, it does not process this contract, but enters it in the Insurance Contract Change Log and continues to the next contract.

    • Note: If the last payment is posted on the contract and the automatic renewal will not take place until the next month is posted, a change copy will not be created for that contract and the contract will not be included in the queue for changes to the insurance contract

The task continues by creating change copies of financing contracts that have successfully passed the checks, writing them in the Contract Change History, changing the insurance policies on the change copy, and writing them in the Insurance Contract Change Queue.

At the end, he writes a summary of changed and erroneous contracts:

 

Changes made to the change copy

The Insurance Contract Change Queue sheet is full.

On the change copies, the insurance contract is terminated on the respective contracts according to the assignment in the task.

Insurance calendars are terminated according to the date of the respective change until the end of the contract.

The insurance policy is calculated in the contract payment schedule.

For each financing contract, an entry is made in the contract change history overview.

If a user entered a "note" when running a task, its text was transferred to the contract history.

"Change Code" (Contract Change Type) in the history of contract changes according to the setting to "Insurance Mass Change Type" (Insurance Contract Change).

A record of the termination of insurance contracts is also in the Insurance Contract Change Log.

Completion of Mass Insurance Contract Change

The user can check the results of the change copies from the change queue of the insurance contract and then transfer the change copies or delete the change copies.

It is possible to select and transfer or delete selected change copies via the mark.

Or perform a Mass Transfer or Deletion.

If the processed batch is not on the given batch of the insurance contract change queue, it is not possible to insert another batch via the batch job.

Mass Creation of Insurance Contracts

A user with permission can run a mass task directly from the menu of the Insurance rollcenter (Insurance).

Specifying Job Parameters and Filters

The system opens a dialog box for entering the job parameters in the Options section (Option).

To create new insurance contracts, the following parameters are mandatory:

  • Insurance Company No. (Insurance Company No.)

    • It is necessary to select the insurance company for which the rates are changing

  • Insurance Product No. (Insurance Product No.)

    • You need to select an insurance product

  • Product Variant Code (Product Variant Code)

  • Framework Agreement No. (Framework Agreement No.)

  • Insurance Set No. (Set No.)

  • Change Valid From (Change Valid From)

    • The user enters the end date of the insurance contracts, that is, Valid to on the policy

In addition to the mandatory parameters, the user can restrict the termination of insurance policies by other parameters, e.g. only terminate insurance policies with a specific framework agreement, etc.

If the user enters text in the field when the task starts:

  • Note

    • The system transfers the text to the Contract Change History

In the second part of the dialog window, it is possible to specify by means of filters over which financing contracts the change should be made.

The user can select a filter based on the fields from the header of the financing contract, e.g. a specific customer. Then the system looks for insurance policies only in the customer's contracts.

If the user does not specify any filter in the Filter: Financing Contract Header section, the system would perform the change over the entire portfolio of leasing contracts. Therefore, it outputs a warning:

 

After pressing Yes, it will start changing insurance policies over all leasing contracts, which can be time-consuming.

Controls

After confirming "OK", the task will check the required fields in the dialog box:

  • Type of Change

  • Insurance Company No.

  • Insurance Company Product No.

If all required fields are not entered, it warns with an error message. If the dialog box is filled in correctly, the system continues with checks:

  • Checking the Contract Change Queue Sheet

    • The Contract Change Queue sheet for the Insurance Contract Change Queue must be empty. The previous change must be processed, i.e. the change copies are "transferred" or "deleted". Otherwise, the system outputs an error message:

 

 

  • Checking Financing Contracts

    • The system goes through the leasing contracts that match the filters entered in the dialog window and at the same time there is an insurance contract of the selected insurance company and product, valid at the time of the start of the change. Contracts must be in the status "Active", this is not a variant, i.e. the system adds fixed filters of the financing contract to the filters entered via the dialog:

      • Calc.Variant = No

      • Status = Aktive

  • Change Copy Check

    • The system goes through leasing contracts and checks whether they are change copies. If there is one, it will record an error message in the Insurance Contract Change Log "Financing Contract XXX is a Change Copy. Insurance contract will not be processed" and the system continues on the next contract.

  • Contract Payment Calendar Checks:

    • Whether at least one regular payment has been posted.

    • If no such payment exists (i.e. the contract is after activation and before the first regular payment is posted), then it writes an error message into the Insurance Contract Change Log, records an error message and does not process this contract and continues with the next contract.

  • Checking Posted RS Payments

    • On contracts, it checks whether the contract has an unposted RS payment. If such a contract exists, it does not process this contract, enters it into the Insurance Contract Change Log and continues to the next contract

  • Check for unposted regular payment

    • It checks the contracts to see if the contract has yet to be accounted for a due payment. If such an installment does not exist, it does not process this contract, but enters it in the Insurance Contract Change Log and continues to the next contract.

    • Note: If the last payment is posted on the contract and the automatic renewal will not take place until the next month is posted, a change copy will not be created for that contract and the contract will not be included in the queue for changes to the insurance contract

The task continues by creating change copies of financing contracts that have successfully passed the checks, writing them in the Contract Change History, changing the insurance policies on the change copy, and writing them in the Insurance Contract Change Queue.

At the end, he writes a summary of changed and erroneous contracts:

 

Changes made to the change copy

The Insurance Contract Change Queue sheet is full.

A new insurance contract is based on the change copies on the respective contracts according to the assignment in the task.

Insurance calendars are calculated from the beginning of the date of the respective change to the end of the contract.

The insurance policy is calculated in the contract payment schedule.

For each financing contract, an entry is made in the contract change history overview.

If a user entered a "note" when running a task, its text was transferred to the contract history.

"Change Code" (Contract Change Type) in the history of contract changes according to the setting to "Insurance Mass Change Type" (Insurance Contract Change).

A record of the creation of insurance contracts is also in the Insurance Contract Change Log.

Completion of Mass Insurance Contract Change

The user can check the results of the change copies from the change queue of the insurance contract and then transfer the change copies or delete the change copies.

It is possible to select and transfer or delete selected change copies via the mark.

Or perform a Mass Transfer or Deletion.

If the processed batch is not on the given batch of the insurance contract change queue, it is not possible to insert another batch via the batch job.