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Samantha Tran: Insurance-VN

Samantha Tran: Insurance-VN

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e. End date handling scheme

FieldsField

Description

End Date Handling Scheme

Four possible answers, “Annual”, “Renewal Date Alignment”, “Monthly” and “Annual Previous Month End”

  • Annual: the quote period will be default as annual365

  • Renewal Date Alignment: the policy’s end date will be defaulted as 1 day before Renewal Date Alignment. See How to align Renewal Start Date? for the details

  • Monthly: the quote period will be default as 1 month

  • Annual Previous Month End: TBD

f. Cooling-off period (days)

Field

Description

Cooling Off Period (Days)

image-20240703-021631.pngImage Added

Define the cooling-off period

  • Upon terminating a policy with an effective date falling between one day after the Policy Start Date and the Policy Start Date plus the cooling-off period days, Seamless will determine the terminated premium by adding the prorated premium to the Termination Fee.

  • For instance:

    • Cooling off period is 15

    • The policy period is 01/01-31/12, Policy period premium = 12.000 USD

    • Predefined termination fee = 100 USD

=> When termination effective date is 13/01, termination fee will be 0

=> When termination effective date older than 16/01, termination fee will be 100 USD

2.Sales discount levels

Fields

Description

Sales discount levels configuration:

  • Sales Discount Level 1

  • Sales Discount Level 2

  • Sales Discount Level 3

These are tied to Sales Discount permissions each of which is for a level.

For example:

A user has “Sales discount level 2” permission, and the configured value for “level 2” is “30” as in the screenshot above. This user can only input a discount percentage up to 30% during quote acceptance.

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