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Introduction

During the quotation process, users can apply:

The applications are independent from one to another.

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Seamless allows you to refine your quotes with underwriting adjustments, discounts, commissions, and payment options. These can be applied independently at the Quote Review stage to ensure accuracy and flexibility.

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titleHow does Seamless calculate the premium breakdown?

Seamless calculates the premium breakdown by combining various factors to ensure accuracy and transparency. Here’s how it works:

  1. Tariff Premium: The starting cost of the insurance product based on the coverage and risk factors.

  2. Adjustments:

    1. Underwriting Adjustments: Modifications applied at the policy or cover level.

    2. Sales Discounts: Discounts added during the quotation process.

    3. Customer Discounts

    4. Promotion Discounts: Reductions applied using promotion codes.

    5. Payment Discounts: Discounts or charges based on payment terms (e.g., lump sum vs. installments)

  3. Commissions:

    • Product Commission: Compensation built into or added to the premium.

    • Sales Commission: Payments to sales agents, affecting the total premium.

  4. Taxes and Policy fees: Any applicable taxes or regulatory fees are added to the premium.

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titleWhy I can't see the complete premium breakdown in my tenant?

Certain components (customer discounts, payment discounts, e.g) require specific features and setup. If you need to use these but don’t see them, please reach out to our Support team for assistance.

Premium breakdown

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titleUnderwriting adjustment
Info

These permissions are required accordingly: View underwriting adjustment; Set underwriting adjustment

Underwriting adjustments allow you to adjust premiums at both the Policy and Cover levels.

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  • Enter the adjustment

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  • View underwriting adjustment

  • Set underwriting adjustment

Sales discount

  • percentage in the UW Adjustment white box.

  • Use button image-20250121-071932.pngImage Added to expand and view all adjustment factors for each cover.

  • Toggle between Policy and Cover levels using button image-20250121-071437.pngImage Added

  • Add comments for the adjustment using button image-20250121-071953.pngImage Added for clear documentation.

Note: Fixed-price covers and taxes (e.g., Hussopp) are not affected by underwriting adjustments.

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titleSales discount
Info

One of these permissions are required accordingly: Sales discount level 1

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; Sales discount level 2

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; Sales discount level 3

Please see Product Settings for more information.

Sales discount allow you to adjust premiums at the Policy level.

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Enter the discount percentage in the Sales discount white box.

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titlePromotion discount
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  • Enter the promotion code in the Promotion Code box

  • Seamless will validate and apply it to the quote.

    • An error message will appear when the code is invalid

      image-20250121-080623.pngImage Added

  • The discount is calculated, and the premium is reduced accordingly.

Please see Promotion discount setup for more information.

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titlePayment discount
Info

The features “Payment Options” and “Payment Options in Quotes” must be enabled to apply this discount.

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To apply a payment discount, select a payment option in the quote by clicking the Edit button.

  • Payment options are defined in product setup.

  • The discount will only affect the premium if the Payment Options in Quotes feature is enabled. Otherwise, the payment option will be selected in the shopping cart without impacting the premium.

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titleProduct commission
Info

These permissions are required accordingly: Product commission; View quote commission

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; Set quote commission rate

Product commission refers to a percentage paid to sales agents, distributors, etc. for selling specific insurance products. It is a predefined rate configured for each product and can also be adjusted per quote if needed.

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  • Enter the percentage in the Product commission white box.

  • The product commission calculation varies based on the type: Add-On Commission displays above the final premium, while At-Cost Commission displays below the final premium.

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titleSales commission
Info

These permissions are required accordingly: View sales commission

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; Set sales commission rate

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Applying Underwriting Adjustment

Applying Sales Discount

Applying Product Commission

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Note! Before creating a quote, ensure your organization allows the application of sales commissions. For more details, refer to Organization setup

Sales commission is a percentage paid to sales agents, brokers, or distributors as compensation for selling insurance policies.

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  • Enter the percentage in the Sales commission white box.

  • The sales commission calculation varies based on the type: Add-On Commission displays above the final premium, while At-Cost Commission displays below the final premium.