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1. Introduction
In this guide, you will learn how to set up general information on your product version. The General tab includes settings a product's description, lookup file, currency, product commission, sales commission, and specifying the line of business.
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2. Defining Product Attributes
In this section, we'll cover how to define key attributes for your product version.
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You can define the scheme for handling renewal date with three four options:
Annual: The next renewal date will be one year after the previous end date.
Renewal Date Alignment: You need to specify the date and month to align the next renewal date for a customer.
Monthly: The next renewal date will be a set number of months after the previous end date.
Default Policy Period (Month): Specify the default number of months of the policy, and this option is only visible when the end date handling scheme is set to "monthly.
Annual Previous Month End: The renewal date will be the 1st day of the policy start month
For instance, if the policy start date is 20/10/2023 → the renewal start date will be 01/10/2024
You can set up the minimum policy period based on three permission levels. Users with the respective permissions can purchase policies with a period equal to or greater than their configured permission level.
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h. Plan selector question
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3. Set up payment option
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Note: Make sure your tenant configured the corresponding features for the payment option
Define the payment options that can be used with the product version.
Options not defined in the product version cannot be used when purchasing a quotation
You can define up to 30 options per product version
Each payment option must define the payment discount, which is required. If you don't want to define a discount, you can set it as 0
Payment options can be added or removed using the "Add" and "Remove" buttons.
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4. Set up product limit & deductible
a. Product Limit
Here, you can set the maximum limit of the product, which can be defined either per claim event or per insured period (Limit Type)
Define the Value Type as either "Fixed value" (predefined value) or "Input" (value obtained from a question tag).
Limit amount: This is the predefined limit sum insured (SI), a numerical field.
Source Question: This field is shown only when the value type is "Input" and represents the question that defines the limit SI.
The Limit amount field only appears when the value type is "Fixed value," and the Source Question field only appears when the value type is "Input."
Limit (Free Text): Additional information regarding the product limit.
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