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Insurance functionality and reporting
Insurance functionality and reporting
Kinga-Laura Ambrus avatar
Written by Kinga-Laura Ambrus
Updated over a week ago

General Details

The Insurance functionality is an extra module in Victoury, activated for those tenants that need to report on regular basis new and modified insurances to insurance companies.

Usually there are 2 types of insurances that tenants work with:

  1. Cancellation insurance, sell price (premium) is a % calculated on non-insurance arrangements total travel price ( using price rule 20)

  2. Travel insurance - insurance with a fix sell value

Settings

Each time an operator books an insurance product and its arrangement is added to a deal, VCT creates an insurance record in the Insurances entity. The products for which insurance records are created automatically upon becoming an arrangement are settable in Settings / General / Reportable Insurance Products.

This settings allows the operator to choose any product belonging to the Insurance Categories (another setting available in Settings / General.

The Insurance record contains the premium (sell price by traveler), buy price and commission, status, price types 1, 2, 3, 4, the product code, last reported premium, traveler name, total travel price (from which premium is calculated), relation to the arrangement and to the deal, booking code, booking date, travel date and reporting date.

The system creates an insurance record for each traveler, for each arrangement (with Product code set as Reportable insurance product).

When in the total travel price of the deal is modified and the insurance product price has a Rule 20 setting applied, the system updates the related insurance records depending on their Status.

When reported, the insurance records are updated as well. Their status is set to “Reported” and the premium value is copied in the last reported premium and then set to 0.

For reporting purposes, Victory offers a very intuitive and easy to use reporting tool.

Creating / updating insurance record in Victoury

The insurance record creation and update is limited only for for deals of type = B (Bookings) and for arrangements of which Product is set as Reportable Insurance Product and for arrangements that are not Alternative arrangements or Not included in total.

When a deal of type Booking is created, the system creates as many insurance records as many travelers assigned to valid insurance arrangements - see conditions above.

The insurance records are updated due to the below actions:

Create or update non-insurance arrangement

- if there are already insurance arrangements, the system updates the existing insurance records and updates Insurance Status according to the below conditions:

  • if Status Pending - does not update status

  • if Status Reported - updates status to Changed

  • if Status Changed - does not update status

  • if status Canceled - does not update status

Delete arrangement non-insurance arrangement

If there are already insurance arrangements, the system updates the existing insurance records

Add insurance arrangement action

The system creates as many insurance records as many travelers assigned to valid insurance arrangements - see conditions above

Update insurance arrangement action

The system updates insurance record corresponding fields and updates Insurance Status according to the below conditions:

  • if Status Pending - does not update status

  • if Status Reported - updates status to Changed

  • if Status Changed - does not update status

  • if status Canceled - does not update status

Assign traveler to an insurance arrangement

The system creates new insurance records for the newly assigned travelers

Unassign traveler from an insurance arrangement

The system updates insurance record corresponding fields and updates Insurance Status according to the below conditions:

  • If Status Pending - deletes the insurance record for the unassigned traveler

  • if Status Reported - copies value in Premium as negative from Last Reported Premium, updates status to Canceled

  • if Status Changed - copy value in insurance.premium as negative from Last Reported Premium, update status to Canceled

  • if Status Canceled - does not update record

Delete insurance arrangement

The system updates insurance record corresponding fields and updates Insurance Status according to the below conditions:

  • If Status Pending - deletes the insurance record(s) for the deleted arrangement

  • if Status Reported - copies value in Premium as negative from Last Reported Premium, updates status to Canceled

  • if Status Changed - copies value in insurance.premium as negative from Last Reported Premium, updates status to Canceled

  • if Status Canceled - does not update record

Cancel Deal

When a Booking is canceled, the system updates all insurance records of the deal and sets the Status to Canceled.

  • If Status Pending - updates status to Canceled

  • if Status Reported - copies value in Premium as negative from Last Reported Premium, updates status to Canceled

  • if Status Changed - copies value in insurance.premium as negative from Last Reported Premium, updates status to Canceled

  • if Status Canceled - does not update record

Option to Booking

When the Option to Booking functionality is used, the system creates as many insurance records as many travelers are assigned to valid insurance arrangements.

Delete Deal

When a Deal is deleted, the system updates all insurance records of the deal and sets the Status to Canceled.

  • If Status Pending - deletes the insurance records for the deleted arrangements

  • if Status Reported - copies value in Premium as negative from Last Reported Premium, updates status to Canceled

  • if Status Changed - copies value in insurance.premium as negative from Last Reported Premium, updates status to Canceled

  • if Status Canceled - does not update record

Insurance_Status Choicelist records

  • PEN - Pending

  • CHA - Changed

  • REP - Reported

  • CAN - Canceled

Menu option for Insurances in Operations in left menu

For each tenant which has the Insurance module activated, the left menu contains the Insurances menu option in Operations.

Insurances listing

  • List menu options:

    • View - opens the detailed view of the Insurance record

    • Report - opens the Reporting tool Search overlay

  • Export to excel of search results

  • Change status of search results - Reported or Not reported

Advanced search in Insurances listing by:

  • Booking Date (interval)

  • Travel Date (interval)

  • Product Code

  • Price Type 1

  • Price Type 2

  • Price Type 3

  • Price Type 4

  • Traveler name

  • Status

Reporting

When Report menu option is clicked, the system displays an overlay with the below search criteria:

  1. Select insurance records (mandatory)

    1. New (status = Pending)

    2. Changed (status = Changed)

    3. Canceled (status = Canceled)

  2. Booking Date - date interval selection - this is mandatory only in case NEW is selected above. In case CHANGED or CANCELED is selected, the date interval is disabled.

  3. Brand - drop-down with Brands - (mandatory) one selection allowed

  4. Product - drop-down of distinct values of productCodes from insurance (mandatory) - one selection allowed

The system asks the operator if records can be set to reported and downloads the generated PDF no matter what the response is:

  • YES

  • NO

If confirmed by the operator, the system updates the below insurance fields:

  • Premium

  • OldPremium

  • Status

  • Update Date

  • Date Reported

after generating and downloading the PDF report.

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