To include the interests of a policy for the ‘Motor’ line of
business you need to go through the following steps:
- In the Policy
Information block, all fields are read-only and are automatically
retrieved by the system. The fields are general information regarding the
policy;
- The Interest Serial number
is auto-generated by the system;
- The Insurance Class
and Policy Type are automatically displayed by the system according
to the policy previously selected in the Policies
page;
- Enter the Interest Name;
- The Latest Sum Insured
will be calculated automatically after each time you update the sum
insured;
- The Effective Date
and time will be automatically retrieved by the system according to the
policy selected previously in the Policies
page. You can change it if you want but it shouldn’t be less than the
effective date of the policy;
- The Expiry Date and
time will be automatically retrieved by the system according to the policy
selected previously in the Policies
page. You can change it if you want but it shouldn’t exceed the expiry
date of the main policy;
- Enter the value of each
unit to be insured in the Unit Sum Insured field;
- Choose the currency from
the Ex-Rate field;
- The system will
automatically calculate the Sum Insured in Local Currency of the
company;
- Select the Vehicle Make
and Vehicle Type. These were defined in the Codes page of the General Settings module;
- Select the Repair Condition.
You can select from a list of repair conditions that were previously
defined in the Codes page
of the General Settings
module;
- Select the Interest
Type. You can select from a list of types that were defined in the Interest Types page of the Insurance Classes sub-module;
- Vehicle Body will
be automatically displayed by the system according to your previous
Vehicle Make and Type selection;
- Select the Book No if needed ;
- Select the Vehicle
Usage. You can select from a list type that was defined in the Codes page of the General Insurance module;
- Enter the Engine Number
of the vehicle;
- Specify the vehicle’s Engine
Capacity. You can select from a list of engine capacities that were
previously created through the Codes
page of the General Settings module;
- Enter in the vehicle’s Chassis
Number;
- Select the Vehicle Colour
from a list of colours that were previously defined through the Codes page of the General Settings module;
- Specify the vehicle’s Load.
You can select from a list that was previously created through the Codes page of the General Settings module;
- Enter in the Depreciation
Percentage of the vehicle;
- Choose the Risk
Occupation and Jurisdiction ;
- The Deductible
percentage, Minimum Deductible and Maximum Deductible
amount will be retrieved by the system based on the Interest Type
setup. Note that you may change it if you want.
- Note: Based on a
preference, the Deductible percentage, Minimum Deductible
and Maximum Deductible fields can be replaced by the Deductible
Structure suggestion box predefined in the Deductible Structure page;
- Enter any necessary notes
regarding the deductions in the Deductible Notes field;
- Enter the Interest
Description;
- Enter the PML
Percentage;
- The Customer name.
will be automatically retrieved by the system according to the policy
selected previously in the Policies
page;
- Enter the Production
Year of the motor vehicle;
- Select the Vehicle
Category. You can select from a list of vehicle categories that were
previously defined in the Codes
page of the General Settings
module;
- The Number of Seats
of the vehicle will be automatically retrieved by the system based on your
previous selection of Vehicle Make and Type;
- Select the vehicle’s Nationality;
- Select the Vehicle
Cylinder from a list that was previously defined through the Codes page of the General Settings module;
- Specify the Number of
Covered Passengers in the vehicle;
- In the Covered Country
select the country in which the vehicle will be covered against loss or
accident, You can select more than one country;
- Specify the details of Previous
Accidents, if any;
- Enter in the name of the Owner
of the vehicle;
- Enter any necessary in Notes
and Note2 fields; you can enter notes in both languages
of the system;
- Select the Deductible
From; on a case of a claim, the deductible will be calculated based on
the Sum Insured or Claim Value.
- Select the Car Status
from the predefined list;
- Enter the PML
Percentage;(Probable Maximum Loss)
- Enter the Minimum
Premium;
- The Interest Premium
and Interest Premium LC are initially set as zero. The amounts will
change upon adding covers and calculating the premium;
- Check the Is Brand New
checkbox if the vehicle is brand new;
- Check the Is Imported
checkbox if the vehicle is imported;
- Enter the Custom Number
Issue Date; (this field is related to Yakeen Service)
- Enter the Entry Place;
- Enter the Registration
Location;
- Click
to save your work;
- The next step will be to
go to the Policy Covers
page.
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