Car insurance no-claims discounts made simple, using Factor Zehn policy system
The Faktor-IPM policy system is being developed steadily over time, and will soon include a new module for car insurance. The “administration module for car insurance no-claims discounts" - in short "SF module" - will make it easier for insurers to administer no-claims discounts (in German: Schadenfreiheitsrabatt, SF) in the future and it integrates seamlessly into the VWB process.
What's special about this is that the SF module allows discounts to be managed independently of the policies. No-claims discounts can be transferred to other policies; unused SF can even be managed without a policy. In addition, the SF module helps to determine which no-claims discounts the policyholder has, how high they are and for which vehicle the discounts are or were used. In the SF module, the no-claims discounts are also managed independently for liability and comprehensive cover.
What insurers will like: The module is designed so that it can be easily integrated into the VWB procedure. The new insurer can use the SF module to create the VWB request to the previous insurer. The data from the VWB response is transferred directly into the policy system. The previous insurer can determine whether the SF may be submitted or not. In addition, relevant losses and interruption days can simply be identified. This means that dark processing can be expanded further and that the previous insurers incur a minimum of effort to query the information of their former policyholder.
If you find this topic of interest our colleague Matthias Kreuschner will be happy to assist you and is looking forward to discussing it in more detail with you.