Insurance Report
The insurance report allows you to monitor the rate at which various policies are included in loan payouts as well as include the details of financial, administrative and beneficiary details taken out
Generating an Insurance Report
To begin, start by navigating to the Reporting Module, and selecting the ADVANCED REPORTS button located below the table of standard reports.
Select the Insurance Report option.
Select from the dropdown, the available list of Insurance Products, the insurance type and a date preselect
Download the report by copying the URL and pasting it in the browser OR export to CSV / Excel
Understanding Your Insurance Report
Below are some of the details / columns you can expect to find in the insurance report :
Administrator Identifier, Insurer Name, Client Identifier: Specifies the entities involved in managing and holding your insurance policy.
Division Identifier, Sub Scheme Name: Categorizes your policy within broader schemes or departments.
Policy Number, Product Name, Product Option: Uniquely identifies your policy and its specific coverage details.
Policy Commencement Date, Expiry Date, Term: Outlines the active timeline and duration of your coverage.
Policy Status, Policy Status Date: Explains the current state of your policy (e.g., active, canceled, expired) and any relevant updates.
New Policy Indicator, Sales Channel: Provides details if the policy is new or existing, and how it was obtained.
Cancelled By Policyholder, Cooling Period: Records any cancellation initiated by you and applicable grace periods.
Death Indicator: Indicates if a death claim has been filed during the report period.
Financial Information:
Premium Frequency & Type: Details how often and in what manner you pay your premiums.
Death Original Sum Assured, Death Cover Structure: Defines the initial and current death benefit amount, and its breakdown (e.g., lump sum, monthly payments).
Reinsurer Name, Death Current RI Sum Assured, Death RI Premium, Death RI Percentage: Identifies any reinsurers involved, their portion of the death benefit, and associated premium contribution.
Total Policy Premium Collected, Payable, Subsidy: Presents the premiums you've paid, outstanding amount, and any applicable subsidies.
Total Reinsurance Premium, Payable, Financial Reinsurance Cashflows: Details reinsurance premiums paid, owed, and any resulting cashflows.
Commission Frequency: Specifies how often commissions are paid to intermediaries involved in your policy.
Commission Admin Binder Fees, Outsourcing Fees, Marketing Advertising Fees, Management Fees, Claims Handling Fee: Breaks down various commission fees associated with administering, maintaining, and processing claims for your policy.
Total Gross Claim Amount, Gross Claim Paid, Reinsurance Recoveries: Details the total claim amount submitted, amount paid out, and any recoveries received from reinsurers.
Insured Individual Information:
Principal Surname, FirstName, Initials, ID, Gender, Date Of Birth: Identifies the primary insured individual covered under the policy.
Principal Member Physical Address, Postal Code, Telephone Number, Email Address, Income Group: Provides contact and demographic information for the insured individual.
Beneficiary Information:
Beneficiary Surname, FirstName, Initials, Relationship, Telephone Number: Identifies the recipient(s) designated to receive benefits upon the insured individual's death.
By understanding the components of your insurance report, you can access valuable information about your coverage, financial details, and claim activity.
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