Policy & Quotation

• The policy system is designed to enable the end-customer to perform all transaction types, including quotation, buy, amendments, renewals, cancellation and reinstatements.
• Quotes can be saved for later purchase and this can be controlled by the quote guarantee period
• Inamon offers implementation flexibility enabling a company to decide whether the customer details or the quote details should be entered first
• It is possible to create multiple quotes for a midterm adjustments and the company can set a limit on the number of midterm adjustments quotes per policy
• Inamon automatically handles 'out of sequence' midterm adjustments, even across policy periods. This is when a change to a policy needs to have effect before the effective date of a previous change
• Short term cover can be added to a policy in one transaction. This can be useful if cover should be added for a trip to another country, or over the Christmas period, for example
• Flat premium can be charged regardless of cover period. This can be useful when the cover is for a given event, e.g. a flight across the Atlantic, where the "window of opportunity" may be affected by the weather
• Inamon can automatically charge fees for all transaction types, i.e. new business, midterm adjustments, renewals or cancellations
• Price calculation can be done by the powerful internal rating functionality or by calling an external rating engine
• Renewals can be performed with automatic renewal or with an invitation process, and the customer can be enabled to choose the method for individual policies. The invitation process includes a reminder process and eventual cancellation, should the customer not react
• The customer can view current and past cover online. This includes cancelled and lapsed policies
• Pre-Trans Amendments (PTA) can be created to take effect at the next policy transaction, e.g. a loading of a policy at renewal or inclusion of a new clause at the next mid-term adjustment following a claim
• Referral rules can be defined, so that a quotation will be put on hold until a cover decision has been made by an underwriter, for example. Different actions may be required to release the quote, such as additional premium, special clauses etc. Decisions and premiums can filter down to the reinsurer(s) automatically
• The flexible Quote Manager can be configured to suit individual sites, as well as individual insurance products.