Viewing and Managing Insurance Policies against Clients
Insurance Policy Overview
Practices are now able to add and manage Insurance Policy details against clients where the policy is not ingested into Xeppo from a source system. This article contains information on the initial setup required, creating and managing insurance policies, creating views, dashboards and other associated actions.
Use the links on the right hand side to navigate through various topics in this article to easily find what you’re after.
Important Considerations
Please make sure to consider the follow points relating to adding and managing Insurance Policies:
- Before insurance details are able to be added, your Practice Admin will need configure the Insurance Lookup Fields in the Admin > Settings menu.
- An Insurance Policy can only be added against a client.
- When an Insurance Policy is created in Xeppo it will not sync the data back to your source system(s). The policy details will only be available through your Xeppo portal.
- You cannot edit any insurance policies ingested into Xeppo from a source system. This can only be actioned in the source system.
- When viewing a Client's Insurance Policy from the edit screen, select cancel when exiting.
Admin Setting Configurations
Before an Insurance Policy can be added against a client, settings must first be configured. This configuration can only by actioned by a Practice Admin user. Steps are below to help guide you on the setup process. From the top menu select Admin > Settings > Insurance Lookup Fields. From here you will be able to configure settings to align with the requirements of your practice.
The table below will assist you in understanding the options available for configuration.
| Lookup Field | Configuration |
|---|---|
| Insurance Cover Subtype | Select Manage to add, edit or delete Insurance Cover Subtypes. Subtypes created will become available via a dropdown when you add Cover within an insurance policy. For example, under Life Insurance, you may wish to have the Subtypes of Basic and Super-Linked. This will allow you to enhance your reporting with a greater level of detail. |
| Issue Status | Issue Status is used to define the status of an Insurance Policy. Default settings are included here but can be added to if required. The default Issue Status options are In Force, Cancelled, Lapsed, Underwriting and Inactive. Select Manage > New Issue Status to add a new status to the list. Defaults cannot be deleted. |
| Provider | This area must be configured to reflect the insurance providers when adding an insurance policy in Xeppo. This is a mandatory field when adding a new policy. Select Manage > New Provider to add a new provider to the list. You can also edit or delete providers from this section. |
| TPD Waiting Period | Default waiting periods are already configured for TPD cover. If required, you can add additional options by selecting Manage > New Waiting Period. These will then become available when adding TPD cover to a policy. Defaults cannot be deleted. |
| Benefit Status | Benefit Status is used to define the status of a specified Cover within an Insurance Policy. Default settings are included here but can be added to if required. The default Benefit Status options are In Force, Cancelled, Lapsed, Underwriting and Inactive. Select Manage > New Benefit Status to add a new status to the list. Defaults cannot be deleted. |
| IP/BE Benefit Period | Default benefit periods are already configured for Income Protection and Business Expense cover. If required, you can add additional options by selecting Manage > New Benefit Period. These will then become available when adding Income Protection or Business Expense cover to a policy. Defaults cannot be deleted. |
| IP/BE/Other Waiting Period | Default waiting periods are already configured for Income Protection, Business Expense and Other cover. If required, you can add additional options by selecting Manage > New Waiting Period. These will then become available when adding Income Protection, Business Expense or Other cover to a policy. Defaults cannot be deleted. |
Locate Insurance Policy Details
Locate the client record then within the record select the Client tab > Personal Insurance tile; or, Details tab > Insurance.
You will then be taken to an overview of the client’s insurance policies. From here you can create a record for a new insurance policy, view or edit an existing policy.
Viewing Insurance Policy Details
Within the Client record's Insurance section, you can view an overview of the Clients insurance policies, and each policy individually to see more details.
To view the policy, select the icon next to the name of the Provider. This opens a pop-up window with basic Insurance Details including Provider, Policy Number, Policy Owners, and Premium Amount.
If you wish to view more details, select Edit from the right side of the policy. This view provides additional information such as Policy Notes. If you have only viewed the information on this screen, select Cancel when exiting.
Create an Insurance Policy
From within the Insurance section of the client record, click Create Insurance. You will then be directed to the Create Insurance Policy page.
Note that an Insurance Policy must be added against a client, although the policy will be visible under the group once created, along with policies from other members of the group.
Complete each section, noting that any fields marked with an asterisk (*) are mandatory and must be completed. Once you have completed the minimum Policy Details required and any other relevant information under the Additional Information tab, click the Create button at the bottom of the page. You will then be able to add detailed policy cover information under the Cover tab.
A brief overview of the fields in each section is below to assist you in completing the details. Once all information has been completed and saved, select Save and Close at the bottom of the page. You will be directed back to the clients record any your new Insurance Policy will be displayed within the insurance summary.
Policy Details (mostly mandatory fields)
| Field(s) | Detail |
|---|---|
| Type* | This will default to Personal as the policy will be against the client. |
| Provider* | Select the policy provider from the list. The available options are based on your Insurance Lookup Fields configuration in the Admin Settings menu. |
| Product Name | Free text field where you can enter the specific product name as listed on the policy. This will display on the Insurance Detail tile therefore completing this field is recommended. |
| Client* | The Client’s name will be prepopulated provided that you have selected Create Policy from within the Client’s record. |
| Policy Owner Type* | This field will default to owner. The alternate for this field is Other. This could be used if the policy is not owned by the Client directly – for example, the policy sits under and is owned by their superannuation fund or a business. |
| Policy Owner* | This will default to the Client’s name if the Policy Owner Type was Client by default and left unchanged. It the Policy Owner Type was selected was Other, the Policy Owner can be entered as free text. |
| Policy Number* | Policy number as listed on the policy. |
| Issue Status* | Status of the policy. Default options include: In Force, Cancelled, Lapsed, Underwriting or Inactive. |
| Instalment Premium and Frequency | Enter the instalment amount and the frequency it is paid. Xeppo will calculate and display the annual figure next to the Instalment Premium. |
| Under Advice | Tick if the policy is under advice of the advisor/practice. |
Additional Information (all optional fields)
| Field(s) | Detail |
|---|---|
| Policy Start Date / End Date | Policy start and end dates. |
| Premium Paid Via Non-Superannuation / Superannuation | May be used to reflect how much of the premium is paid by superannuation if required. |
| Next Review Date | May be used to record when the policy is due to be reviewed. |
| Premium Payer | Who funds the insurance premium. |
| Policy Notes | Could include information such as policy beneficiaries, factors that contribute to premiums/loading, etc. |
Cover (all optional fields)
Select Add new cover under the applicable sections to gather greater depth of information for the cover listed under the policy. Note that each element of cover listed can have its own Benefit Status. For example, the overarching policy may have an issue status of In Force, but within that policy the Benefit Status of each cover element can be changed to reflect the clients current level of cover.
The fields displayed when adding a new cover will vary depending on the type of cover. Below is an example of how the available field differ between Income and Life Cover.
The Type field can be customised through Admin Settings where a greater level of details is required, along with fields related to Waiting Periods, Benefit Periods and Benefit Status.
Once cover details have been completed and saved, select Save and Close at the bottom of the page. You will be redirected back to the client’s record.
Manage an Existing Policy
From within the Insurance section of the client record, select the record you wish to view or edit. Once selected the Insurance Detail window will appear to give you an overview of the policy.
Edit Policy: This function allows you to update any of the policy or cover details.
Delete Policy: Only use this function to delete an insurance policy if it is there in error, for example the record was duplicate or should not have been there in the first place. Do not use this option for policies that are no longer current. This can be updated by selecting Edit Policy and changing the Issue Status.
The edit and delete functions are only applicable to policies created in Xeppo. If these options do not display it means the data for the policy is coming from a source system. Any changes required can only be actioned in the source system.
Building Views for Insurance
From the Details menu you can select either Insurance Policy or Insurance Cover, depending on the information you want to view.
Use the Filter function to drill down on the information you would like to display. Once you have made your selections select Update Results.
Use the Display function to display additional columns from the available list. Once you have made your selections select Update Results.
You can save useful views by selecting Save As. Name your view, you can then select this view again in the future from the Views list.
You can choose a view display or manage views that were created by you from the Views menu show below. Alternatively you can also manage your view by selecting My Views from your user menu.
If you have an existing dashboard where you would like to display insurance information. Select Add Widget to add the widgets you require.
Available Actions
Use the Actions option at the top of the page to create Marketing Lists, Opportunities, Activities and Projects based on your current selection of data. You may also choose to export the information from here.
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