Test Build: Travel Insurance

Test Build: Travel

A guide to your second build

Start

Information

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• This is a simple Travel Insurance Product.
• It is a Direct Scheme with premiums collected by Credit or Debit Card.

Commissions:

• 35% from Insurers
• 25% to Agent
• £10 Policy Fee
• 12% IPT

• Your Insurer will be AXA

This is based on a real pilot build that we did a while ago for a client in Spain.

Scheme questions

Number of Persons Travelling (6 max)

Partner travelling (Yes/No)

Family Travelling (Yes/No)

Number of Adults(max 2)

Number of children (max 4)

Client Name

Client Address

Client email

Client password

Start date

Return date/duration

Destination

Cancellation Luggage Ski Cover Golf Business Cruise

Optional Excess Level

• None
• Normal
• Double

Traveller Details • Travellers Name• Travellers DOB

Additional cover

Health questions

Answer of Yes on any of these should Refer.

Title here

Heart related condition

Lung condition

Diabetes or Cancer

A stroke or brain stroke

Taken any regular medication

Required an organ transplant

Sought medical advice before travelling

Has anyone in the last 5 years...

Has anyone in the last 2 years...

Rating

Loads & discounts

Additional Loads and Discounts

• No cancellation – 15% discount

• No luggage – 5% discount

• With Ski cover – 100% load

• With Golf cover – 50% load

• With Business cover – 25% load

• With Cruise cover – 50% load

Excess Loads and Discounts • No Excess – 30% Load • Normal – Standard rates • Double – 10% discount

Additional Loads and Discounts• Partner Travelling – 10% discount • Family Travelling – 50% discount

• Two people

If 2 people, check if they are travelling with partner to set relevant discount from above

• More than two

If more than 2 people are travelling, check if they are a family and how many adults and children are travelling. Max is 2 adults and 4 children

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Endorsements

Documents

Bordereau

Click me. An ‘Endorsement’ refers to additional terms that may apply to a policy, outside of standing wording. They can be used to add, delete or otherwise change coverage. They can be applied to a new policy, or at renewal, and are legally binding

click me

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Create a Heart endorsement for this Scheme – this can just say “this policy excludes any claims arising or resulting from a heart condition”.

This Endorsement is to be automatically applied if the Heart Related Condition Question is answered Yes.

Create a basic Quote Letter confirming the main basis of cover selected, premium etc. - this to be issued on all Quotations: • The Quote letter should contain any Conditions added

Schedule as attached – this will be issued when Quote is changed to On Cover or when a payment is collected successfully. • The Schedule should contain any Memorandum added. The schedule example is attached to the end of this documen

• Case Number • Dates of Travel • Names of Travellers • Destination• Gross Premium after discounts but before IPT • IPT Amount • Commission from Insurers • Net Paid to Insurers including IPT

Good luck!