Rates

To the insurance rate, the system inherits the properties specified on the insurance company's bundle, framework agreement, and product. At the rate level, the responsible user can change it.

The user can create insurance rates by copying existing ones. Selects the rate on the report and runs the copy function:

• Including commissions

Insurance Rate Card – General

• Number (No.)

  • The set number is assigned from the number sequence

• Description (Description)

  • The description is created automatically from the fields Tenant Rate + Possible Filters for Group, Subgroup, Make, Model, Model Line + Participation

• Insurance Company No. (Insurance Company No.)

  • for which the rate is created

• Insurance Product No. (Insurance Product No.)

  • for which the rate is created

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

  • for which the rate is created

• Set No.

  • for which the rate is created

It is also possible to enter filters that limit the subject for which the typesetting will be intended:

Category, Group Filter, Subgroup, Kind, Make Filter, Model Line Filter, Model Filter, Model Type Filter.

• Calculation Method No. (Calculation Method No.)

  • The premium calculation method is filtered to the rate by set.

• Number Interval (Interval No.)

  • If a method with an interval of values is specified, the user must assign a specific interval row to the rate. For example, in third-party insurance, the method is based on engine capacity. On a rate, the user must assign a line with a volume interval for that rate.

• Product Variant Code (Product Variant Code)

  • Selection of variants set on the insurance company's product, mandatory field

• Valid From (Valid From)

  • The system writes the date into the typesetting from the set. When a user edits, the system marks the Specific Validity box, and this rate is not controlled by the set's validity.

• Valid To (Valid To)

  • The system writes the date into the typesetting from the set. When a user edits, the system marks the Specific Validity box, and this rate is not controlled by the set's validity.

• Insurance Code (Insurance Code)

  • it is filled in automatically if it is filled in at the Insurance Calculation Interval,

  • It is filled in from the Insurance Code tab.

  • It is used for reporting purposes if required by the insurance company.

• Object Usage Type (Object Usage Type)

  • The user can select a specific type of object usage from the dial list. The rate is then only available to the object with the given type of use.

• Start of Insurance (Insurance Start)

  • rate inherits from set, user can change here

• Include In Payments (Include In Payments)

  • The default value is Yes, the user can change it to No, e.g. when entering rates for removed items

  • With the rate is transferred to the insurance contract

Insurance Rate Card – Calculation

• Rate Calculation Method (Rate Calculation Method)

  • Automatic is filled in Sum / Percent according to the Insurance Calculation Method setting

• Tenant Rate (Client Rate)

  • The always editable field is filled by the user

• Insurance Company Rate (Insurance Company Rate)

  • Field editable according to the setting on Set, Different Rate field

• Participation (Participation)

  • The type of deductible is specified on the insurance company's product

  • A specific deductible can be set on the Variant, then it will be added to the rate from the Variant. In other cases, the deductible details of the rate can be entered

• First Risk (First Risk)

  • To enter the coverage limit, the user ticks the following fields Cover Limit and Cover Description

• Cover Limit (Cover Limit)

  • Registration field on rate, not transferred to insurance contract

• Cover Description (Cover Description)

  • Registration field on rate, not transferred to insurance contract

• Fix Rate (Fix Rate)

  • The field is transferred from the set, here the user can change the

Insurance Rate Card - Discounts/Surcharges

A discount / surcharge can be applied to the insurance rate from the discount code list set for the given insurance company's product.

• Discount / Surcharge (Discounts / Surcharges)

  • Specifies that the rate has a discount/surcharge

  • Note that if the user turns on and then turns off the discount, the system will update the field

    • "Tenant Rate" based on the "Basic Rate" field

    • "Insurance Company Rate" based on the "Basic Rate (Insurance Company) field"

• Discount / Surcharge Code (Discounts / Surcharges Code)

  • Selection from the code list Discounts / surcharges

  • To enter a rate correction in % or in the amount, the user selects a record with the flag "Correction" = Yes 

• Discount / Surcharge Type (Discounts / Surcharges Type)

  • Fills in the system according to the selected code, whether it is a discount or a surcharge

• Basic Rate (Basic Rate), Basic Rate (Insurance Company) (Basic Rate (Ins. Company))

  • The user enters the base rate to which the Discount/Surcharge applies 

• Discount/Surcharge Coefficient (Discount / Surcharge Coefficient)

  • Discounts and surcharges can be entered both by % and by coefficient. One value is entered by the user and the other is calculated by the system.

• Rate Correction % (Rate Correction%)

  • The user enters the amount of the correction of the customer rate and the rate for the insurance company in % (+-) 

  • Correction can only be entered if "Insurance Calculation Methods" = Percentage 

• Forbidden Discount

  • If the user ticks this box, it will not be possible to enter a discount on the insurance contract. When selecting a discount from the discount list on an insurance company's product, the system prints an error message: "Discount is forbidden for the XXX insurance rate!". You can choose a surcharge.

• Exception (Exception)

  • Indicating that this is an exemption rate

• Exception Customer No. (Exception Customer No)

  • Select the number of the customer for whom the rate is intended. At the same time, the customer's name is filled in

• Package No. (Insurance Package No.)

  • Select the package number from the Insurance Package List if the rate is included in it.

Insurance Rate Card - Concatenated Discounts

Field:

• Discount Concatenating (Discount Cocatenating)

  • The user selects whether it is necessary to concatenate Yes/No discounts for the entered rate.

• Basic Rate (Basic Rate)

  • Specifies the height of the base for the concatenation calculation - it can be an absolute value or a percentage.

• Final Rate (Final Rate)

  • The user enters the resulting rate provided by the insurance company.

• Last Concatenated Discount (Last Concatenated Discount)

  • The last discount calculated by the program

• Concatenated Discounts (Concatenated Discounts)

  • Discounts entered into the Concatenated Discounts window

The user selects whether it is necessary to concatenate Yes/No discounts for the entered rate. Specifies the height of the base for the concatenation calculation - it can be an absolute value or a percentage. The User enters the Final Rate provided by the insurance company. Individual discounts are entered by the user into the Chained Discounts table (Concatenated Discounts) in the menu on the insurance rate tab. The system calculates the last discount from the Resulting Rate to 5 decimal places.

E.g. Number of concatenated discounts 3.

The basis is €370 The first discount is 60% (coefficient 0.4), the second discount is 20% (coefficient 0.8) and the resulting rate granted is €74.70.

• Step 1 - Multiply base 370 by the first discount coefficient 0.4 = 148

• We multiply this intermediate result by the coefficient of the second discount 148 x 0.8 = 118.4

• The coefficient of the third discount is the ratio of the resulting percentage to the intermediate result from step 2. 74.70 / 118.4 = 0.630912

• The percentage of the third discount is (1 – the coefficient of the 3rd discount) x 100 = 36.91

The calculated coefficient is 0.630912, which is 36.91%. Coefficients are pulled into IMPEX.

Insurance Rate Card – Other

Field:

• Date of issue (Created At)

  • When the rate was created

• Created (Created By Name)

  • The user who created the rate

• Changed (Modified At)

  • Last Modified Date

• Changed (Modified By Name)

  • The user who made the last change

• Rate Code (Rate Code)

  • Rate designation, which is used for automatic search for subsequent rates by the Change Variable Rate on Insurance Contracts task

• Pay Cost Commission

  • List of options to whom the insurance cost commission is paid: Don't pay / Salesman / Dealer / Branch

  • The field is only record-keeping, ready for further development