Policy Types (Class of Business)

Created by Melvin Xuereb, Modified on Tue, 24 Oct 2023 at 01:17 PM by Melvin Xuereb



This guide provides information on how to setup Insurance Policies in Experience. 

Policy Types

Menu Path: Insurance →  Setup →  Policy Types

Policy and Duty Settings

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

Policy Settings

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

Motor Premium Calc Enables the Motor Premium Calculator when posting Binder


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

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

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/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 AccountNominal 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.


Double click on the Quote Template or Policy Template box to add or modify the template.

A specific footer to show for this policy can be included here.

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



<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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