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 and Status Relation table.

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

The availability of the dial is via the magnifying glass, the Setup Manual or the Configuration Book. After confirming the selection, an overview of the set lines will open.

Description of key fields:

• Insurance Product No.

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

• Detailed Contract Status

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

• Object Category

  • The user selects the subject category as an additional 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

  • User selection, 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 specifies that the wizard creates 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 base 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, the Extended i insurance contracts for the same period.

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

• Property Framework Agreement No.

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

    • If filled in for contract termination statuses, automatically creates insurance for the removed object

    • if it is filled in for Asset status, it will automatically create pre-insurance when activating the financing contract retroactively from the time of the 1st registration of the vehicle until the date of handover of the vehicle (does not create for Online Insurance)

• Liability Framework Agreement No. (UGS)

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

    • If filled in for contract termination statuses, automatically creates insurance for the removed object

    • if it is filled in for Asset status, it will automatically create pre-insurance when activating the financing contract retroactively from the time of the 1st registration of the vehicle until the date of handover of the vehicle (does not create for Online Insurance)

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

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

  • The setting creates pre-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 session will be set up. If the product code is empty, the relation applies to all financing products.