In group policies, sometimes you need to add or remove some objects and, therefore, change the overall policy premium half-way through the time when the policy is effective. This tutorial gives you an overview of how easy it is to manage all this in Insly system.
Adding or removing objects
When you have created a policy with multiple objects and need to add or remove the objects, you can easily do this from the "Coverage" tab of your policy.
To add an object, simply click on the "Add another object" button in the "Objects" section.
Insert the necessary information or search for an object that has already been inserted to your system and click "Add" button. The object now appears among others in the policy coverage information.
Removing objects from the coverage is very easy. Simply click on the "delete" button of the object and remove it from the coverage section.
Adding endorsements and credit installments
When there are changes regarding objects on the policies, usually it affects also the overall policy premium. This means that when adding an object, the premium may increase and when removing an object, the premium may decrease.
Adding an installment
In the "Installment schedule" tab of the policy you can easily create installments, whether these are endorsements or credit installments. To do that, click on "Add a new installment" button in the "Installment schedule" section.
Now, a new window pops up.
Here you can insert a sum (positive amount for the endorsement and negative for credit installment), set the period dates for this installment and add description for the installment. Click "Save" and an additional installment has been added.
Note: Don't forget to change the policy premium sum in Policy overview tab so that this would match with the overall sum of the installment schedule! A warning sign will be shown in the policy premium section, if the sums do not match.