An Insight into Group Insurance Add On ( GIA 1.0 )
This is an intricate insight into the Group Insurance Add On to FSPM. GIA aims at being an accelerator to the attainment of the goals of the customers in the Group Insurance space. Let’s take a look at the arenas involved.
Master Policy Enhancement :
This deals with canvas of making the Master Policy Object more meaningful and enhanceable.
Master Policy IBC
Similar to the policy object it will be now possible for the customer to define Master Policy templates. Within the Master Policy ibc the customer can maintain the usual datasets pertaining to the Master Policies and its entities such set the default values, field modifiers, Sales Periods etc. Additionally there is the possibility of bringing in more control structures in form of attributes for the Master Policies. The user can also enable/disable functionalities eg Creditor within the Master Policies created out of the current Master Policy template. The look and feel is very similar to the Policy IBC.
Master Policy Business Object within its Business Processes
It will now to be possible for the user to maintain a whole new catalogue of entities within the Master Policy business processes. The current deliveries include Commission data, Beneficiary, Clause, Coinsurance, Collection type information, Creditor, Multiple Master Policy Partner, Surcharge/ Discount, Premium Per Piece and Premium Payer Distribution. The user can also choose the target locations within the slave policy for most of these dataset to default. The user has varied control possibilities for this eg Group Dimensions. However the narrative doesn’t end here. GIA 1.0 delivers a technical infrastructure for the customer that simplifies the process of creating an additional barrage of entities within the Master Policies if required. The customer is not required to introduce new table every time there is need for a new functionality. He can focus on the core functionality and its behaviour due to GIAs infrastructure.
Correspondence at the Master Policy level
It will now be possible to do manual and automatic scheduling on the Master Policy level. The user can also do set and so recurring correspondence for the Master Policy. Therefore the customer will be able to send a collated correspondence at the group level itself. Mass Change With GIA a larger set of transactions are available within the mass change business process such as Change Commission Participant, Change Policyholder, Execute Manual Rating, Perform Premium Waiver, Change Creditor, Exclude Coverage etc. Additionally there exists a possibility to retrieve data sets from the connected Master Policies for few of the mass BTXs. The move out and relocation of slaves policies from groups is now mass enabled. Mass Change Log All mass changes that are scheduled are tracked under an identifiable log name. This user can retrieve and view the status of the mass changes being tracked under this log.
This functionality allows the user to create an identifiable subset of policies within a Master Policy group. This is called a result set id. The process of searching and selecting this group can be based upon humongous set of parameters. Due to this the user can execute mass change for a subset of policies within a group. Customers can use this identified group for any process as they desire.
Defaulting of data from the Master Policies to the Slave Policies
There is now a possibility of defaulting data from the Master Policy to the connected member slave policies. This happens during new business, main axis element inclusion and move-in of a member to a new group. As mentioned earlier the user has various possibilities to control this data flow. GIA merely defaults this and does not enforce this.
Group Discount for Master Policy Group
It brings forth a possibility for the user to maintain a Group Discount matrix on the Master Policy. This data can then be used to apply the group discount to the policies within the group based on the number of objects. The semantic meaning of the number of objects is customisable by the user.
File Handling APIs
GIA has provided the base infrastructure in form of APIs to cater to the following scenarios via Excel upload:
- New business
- Termination of policies
- Changes to Policies
An API has been provided to mass release or mass reject open applications of policies within a group.
RFC for Master Policy handling
RFCs has been delivered by GIA to Create, Change and Display Master Policies.
Amidst all the inventory of features from GIA some fundamentals still hold good such as:
- Master Slave relationship still hold good within the Master Policy and individual policy construct
- The slave policies still remain the frontal operational object.
- Changes to the existing members within the group are still a 2 step process
GIA has already managed to gain an impressive footprint with various customers every since its launch. This is due to the value proposition it offers.
It could soon become a necessity to have within the FSPM arena.
We have dwelled upon the principal aspects around GIA. For information please refer to https://help.sap.com/insurance-fspmgia
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