Sets

The insurance set card has four tabs: General, Relation of the set to product, Calculation, Other

The user can create new sets and copy existing ones. When copying, the user chooses, including what he wants to make a copy:

• Rates Included

• Including Calculation Methods

• Including Constraints

• Including Bound Products

• Including Documents

Insurance Set Card – General

Field:

• Number (No.)

  • The user enters a set number, or a set number is assigned from a series

• Insurance Company No. (Insurance Company No.)

  • If the user selects an insurance company, the system will automatically fill in its name

• Insurance Product No. (Insurance Product No.)

  • After selecting an insurance product, the system automatically fills in the product name

• Insurance Company Framework Agreement No. (Insurance Company Famework Agreement No.)

  • The user enters the number that needs to be provided for the insurance company

• Description (Description)

  • The user fills in the description

• Start of Insurance (Insurance Start)

  • The user selects from the following options

    • Handover of the financed object (Leasing Object Hand-over) – In the case of this option, the system checks the date of handover of the financed object. If the user changes the handover date of the object when activating the leasing contract, the system will also change the start date on the insurance contracts.

    • Before Financing Begins (Before Financing Begin) – Changing the date when activating a leasing contract does not affect insurance contracts.

• Valid From (Valid From)

  • The user enters the initial validity of the set. The system will write the date into the rates of this set that do not have the Specific Validity field checked. If the user changes "Valid from" or "Valid to" on the insurance rate, the system automatically ticks the field Specific Validity = Yes and this rate is not controlled by the validity of the set.

• Valid To (Valid To)

  • The user enters the expiration date of the set. The system will write the date into the rates of this set that do not have the Specific Validity field checked.

• Quote Valid From (Quote Valid From)

  • The user fills in the date from which the set is valid for the bidding system. Must be later than or equal to the effective date from.

• Quote Valid To (Quote Valid To)

  • The user enters the final validity date of the offer

• Bidding To (Quotation To)

  • The user enters the end bidding date in the bidding system. This is the end date when the action is applied.

• Quotation for (Quotation For)

  • In the case of setting the date in the "Bidding to" field, the user selects from the options Everyone (All)/Dealer (Dealer) /Salesperson (Salesperson) /Menu (Quote) /Press (Print)"To whom the offer date is addressed. It is a figure for the bidding system.

• Status (Status)

  • When a new set is created, the status is Ready. The user can change the status of the set. Both the bidding system and the OC are governed by the status. If the user selects the Active status, the bundle will be offered for use on insurance contracts. When the status is activated, the system performs a check for mandatory fields.

  • If the user closes the set (change the status to "Closed"), it is necessary to ensure that it is replaced by the active set in the Financing Product Insurance and Financing Templates Insurance tables. If a closed set remains on the financing products/templates, the system will display an error message when trying to create insurance contracts using the "Create Insurance Contracts" wizard

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• Default (Default)

  • If the user ticks this box, the set will be used by the system for series n – where the first year is free and the rate assigned to this set will apply for the following years.

• Priority (Priorities)

  • The user selects a priority for the set menu in the bidding system.

• Number Of Rates (Number Of Rates)

  • Calculated field, if the user clicks on this, the System field will display an overview of insurance rates for this set.

Insurance Set Product Relation Card (Insurance Set Product Relation

Relation of the set to the product – the link must be set up for a supplementary insurance set, where the set of accessories is linked to the base product, e.g. to accident insurance.

• Insurance Product No. (Insurance Product No.)

  • The user selects the product code to which the bundle is bound. E.g. mandatory Kasko, UGS, The user can bind multiple products to the set.

• Related to the same insurance company (other tab (Other)) (Related To Same Insurance)

  • At the same time, it is possible to bind the supplement to the same insurance company. This means that additional insurance is possible if the tied product is with the same insurance company. In the event that this condition is not met, the system will gardens Reports an error.

Insurance Set Card – Calculation

The data set at higher levels is inherited from the insurance framework contract. The user can change them on the set.

• Client/Insurance Company Calculation Method (Client / Insurance Company Calculation Method)

  • Fields are inherited from the settings on the framework agreement, the possibility of change at the set level.

• Mandatory tying to financing (Related To Financing Mandatory)

  • User ticks if it is necessary to offer this set only together with a financing contract

• Different Rates (Different Rate)

  • Fields are inherited from the settings on the framework agreement, changeable at the set level

• Fixed Time Insurance (Fixed Time Insurance)

  • If the user ticks this box, the expected termination date will not be transferred from the leasing contract. The user must then enter the "Valid until" date on the insurance contract.

• Register the value of insurance free of charge (Register Insurance Value (Free))

  • The user ticks the box when he needs to record the value of the insurance free of charge - e.g. the first period is free, the client does not pay, but a commission is calculated from the insurance premium

  • Then, at the rates of this set, the user enters the value of the free premium, which is transferred to the insurance contract by applying the rate. By applying a rate, the value of the free premium is transferred to the insurance contract

• Fix Rate (Fix Rate)

  • Fields are inherited from the settings on the framework agreement, changeable at the set level

Next, the user ticks the types of financing for which the set is intended.

Insurance Set Card – Other

• Periodicity report (Reporting Period)

  • The user selects Month from the options (Month) /Quarter (Quarter) /Year  (Year).. This is an informative field for creating reports.

• Last Date Report (Last Reporting Date)

  • When a report with this set is issued, the system will write the release date

• Reporting Group Code (Insurance Reporting Group)

  • The user selects the code of the reporting set. Reports for the insurance company will be created by the user according to the insurance company, product, insurance framework contract and reporting group. One RPZ can be required by the insurance company to report according to events, but not each event separately. The reporting set will contain sets that are reported in a separate file, forming a reporting set. The user must fill in the reporting set before the first increment report in order to correctly create an archive record for changes.

• Bank Account No. (Bank Account No.) and Variable Symbol (Variable Symbol)

  • It is inherited from the framework agreement. The user can change at this level.

• Discount / Surcharge Code (Discount /Surcharge Code)

  • The user can select a discount/surcharge for the set.

  • The system will transfer discounts to the rates for this set if none of the rates has been used on the insurance contract yet.

  • Does not apply to the set of exceptions (see below)

• Exception (Exception)

  • It is marked Yes if the Set is intended to record rates approved for an exception.

Combined Insurance

Combined insurance is used by the user when the resulting rate is the sum of several different calculations. E.g. PVPP – combined insurance – Liability coverage (the basis of the calculation is Turnover), Interruption of operation coverage (the basis of the calculation is Turnover) and Natural Risk Coverage (the basis of the calculation is the Procurement Price). All calculations are performed and the result is summed. Only the summarized result is used.

In the case of combined insurance, the calculation method must not be defined on the set. If the set inherits the calculation method from the framework agreement, the method must be deleted. The method of calculating premiums for combined insurance is defined only on the Other tab. The resulting insurance is actually a "sum".

When calculating the insurance premium on the insurance contract, the system checks the calculation method and reports an error:

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Combined Insurance – Defined on the set.

Field:

• Combined Insurance (Combined Insurance)

  • The user ticks this field

• Number of Calculation Types (No. Of Calculation Type)

  • The user enters the number of individual calculations

• Combined Insurance Code (Coimbined Insurance Code)

  • The user selects the code under which the summarized calculation is defined

For each calculation line, the user must define both the base and the rate percentage.

The base can be selected from the fields defined by the user in the Insurance Calculation Base table.

For values that cannot be selected from any of the above tables, there are five free fields on the insurance contract under the name Combined Insurance Value 1 - 5

An example of the use of the field is the basis - client turnover, on which the calculation of liability coverage and business interruption coverage is based. The value of the client's turnover is then entered by the user in the insurance contract, tab Combined Insurance - value 1 in the Combined Insurance field

The invoiced price, which is also the basis for one calculation line, is from the calculation input to the financed object.

From these bases, the system then calculates the premium according to the entered percentages – see the Calculation tab on the insurance contract.

The insurance system calculates as follows:

Turnover x rate in the 1st line of combined insurance/100: 10,000,000 x 0.03 / 100 = 3,000        

Turnover x Rate in 2nd Line of Combined Insurance/100: 10,000,000 x 0.02 / 100 = 2,000

Invoiced price incl. VAT x 3rd line combo rate. p. /100: 9,752,121.84 x 0.04/100 = 3,900.85    

The total annual insurance is 3,000 + 2,000 + 3,900.85 = 8,900.85