TABLE OF CONTENTS
Introduction
This guide provides information on how to setup Insurance Policies in Experience.
Policy Types
Menu Path: Insurance → Setup → Policy Types
Policy and Duty Settings
| Item | Description |
|---|---|
| Code | Unique Policy Code. Example 001, or HME, or MT001. |
| Description | Policy Description. This is used by users during transaction entry. |
| Renewable | If the policy Renews then set to YES, otherwise select NO. Policies set as NO will not show up for renewal processing (example Travel Policies). |
| Motor Policy | Setting Motor Policy = YES will enable users to update License and Recovery Assistance values when posting transactions. |
| Duty Rate | Default duty rate to be paid on each policy transaction. |
| Minimum (New) | The minimum duty to be paid for New or Renewing Transactions. |
| Minimum (Oth) | The minimum duty to be paid for non-New or non-Renewable transactions. |
Policy Settings
| Item | Description |
|---|---|
| Allow Amendments | Selecting YES will allow users to post amendments (example Additions or Returns) on Policies which have been renewed already. This function should only be allowed on specific Policy Types (example Employers Liability) and not set on all policies. |
| Allow Comm Only | If set to YES, users can select to Post Commission Only when posting transactions. If the Policy is set to NO, then users will not be able to select Commission Only when posting transactions. |
| Force Claim Date | If date of loss must fall within period of cover, then this must be set to YES. Example Travel is normally set to NO, whilst Motor is set to YES. |
| Binder Policy | Specify if the Policy is a Binder Policy or not. Note that an Experience Binder License is required for this to work. |
| Calculate Pro Rata | This is only allowed on Binder Policies. Set to YES if Policy calculations are required when posting Binder/Insurance Policies. |
| Binder Multi-Locations | Allow multi locations will allow users to add multiple locations on Binder Policies. If set to NO, the system will automatically create one location per Binder Transaction. |
| Allow Premium Input | Allow users to change Premium calculations when posting Binder Policies. |
| Motor Premium Calc | Enables the Motor Premium Calculator when posting Binder Transactions. |
Financials
| Item | Description |
|---|---|
| Fee | Fee to be charged by Broker, TII or underwriter. |
| Fee Nominal Account | Nominal Account where Fee will be posted |
Recovery Assistance
| Customer Charge | Amount to be Charged to Customer if Recovery Assistance is selected. |
| Recovery from Insurer | Amount that will be recovered from Insurer. |
| RA Supplier Invoice | Amount to invoice Supplier (charged to Insurer/Supplier Account). |
| Commission | Commission Amount to be recorded. |
Policy Groups and Reporting Groups
| Item | Description |
|---|---|
| Template | Template to be used when generating Documents (Invoices, Renewal Notices etc) |
| Policy Group | Policy Group is used in Renewal Notices filters, and for Reporting Purposes. |
| Group 1 | Group 1 is used for Reporting Purposes. |
| Group 2 | Group 2 is used for Reporting Purposes. |
| Group 3 | Group 3 is used for Reporting Purposes. |
| Ageing Group | This Group is used to analyse Outstanding Debtor Amounts. |
| Commission | Commission Group is used to calculate off line Commissions using the Commission Group / Policy Group matrix. |
Insurer Links
| Item | Description |
|---|---|
| Insurer/Supplier | Insurer who will be paid. |
| Security | Company who is securing the risk. |
| Commission Rate | Commission rate that is earned by the company. |
| Commission Nominal Account | Nominal Account where commissions will be posted. |
| Fees (New, Renewals, Other) | Fees charged by the respective Insurer/Supplier. Fees can be specified for New, Renewal and Other (amendment) transactions. |
| Status | If option is Active (can be used by users) or Inactive. |
| eFile 1, 2 & 3 | File location which will be sent with Renewal Notices. Each Policy / Insurer combination can have up to 3 files linked. |
Documents, Footers and Email Text
In this section you can add the Quote Template, Policy Template, a specific Policy Footer text, and a specific email for Renewal Notices.
You can add Documents to be sent out with Renewal Notices.
Note: To upload documents, place the documents in the folder C:\EmaxCloudSync\ on your device, and then select them from the Cloud.
Templates
Double click on the Quote Template or Policy Template box to add or modify the template.
Policy Footer
A specific footer to show for this policy can be included here.
Renewal Notice Footer
A specific footer to show on the renewal notice for this policy can be included here.
Renewal Notice Email
A specific Renewal Notice email can be included here.
You need some HTML Knowledge to create formatted Renewal Notice Emails. Some tips ... New line is <br>, New Paragraph is <p>, Bold is placed between <b> </b>, and Italic is placed between <i> </i> Do a Google search for HTML Placeholders to see what other options you can include!
Use Placeholders
When creating your email template, Placeholders can be used as shown below ... example {CUSTOMER_NAME} to display the customer’s name for the respective transaction.
Note: Click on the button Placeholders to see all available placeholders.
Email Example using Placeholders
Dear {CUSTOMER_NAME}, <br>
Kindly note that your insurance policy, {POLICY_DESCRIPTION}, is due for renewal on the
{POLICY_DATE_RENEWAL}.<br><br>
Regards,<br>
<b>EMAX Solutions</b> <br> Phone: +356 20 333 213
Renewal Notice email will be received by the Customer as follows:
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