Xplan Product😮 Health Premium Loadings modelling in Xplan made easier - Part 2
As part of our commitment to making Xplan more cohesive, we have continued enhancing the modelling of insurance policies that include health premium loadings.
These changes will be available in the Xplan 25.9.459 release.
⚙️ What did we hear from you?
While Client Focus > Existing Insurance allows you to review Insurance Policies and associated product information for new and existing policies, the Health Loading percentage recorded against an existing insurance cover was not imported into a Risk Researcher scenario.
It was unclear in Risk Researcher, within the Premium Modelling > Current Situation table and associated SoA, which existing products contained a Health Premium Loading.
💡 What have we done?
We've updated the existing Insurance Group and Risk Researcher with changes designed to simplify the advice journey and improve modelling!
✅ How does this benefit you?
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A central location to record and update information regarding policy restrictions
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.Enhanced productivity by reducing the need for additional work to accommodate implemented policies with health premium loadings in Client Focus.
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Existing Policies containing a Health Premium loading and/or Exclusion are now identifiable.
👀 So, what's new? Give me the detail...
Within Risk Researcher, we have updated the Premium Modelling > Details screen to differentiate existing policies containing a Health Premium Loading/and or Policy Exclusion and this is controlled from Cover Details > Details > Health Loadings & Exclusions screen within Client Focus.
The Existing Insurance record within Risk Researcher now has * applied to any policies where either a Health Premium Loading or Exclusion has been set within the corresponding Client Focus record.
If no Loadings have been set for a scenario, and an existing policy containing Health Premium loadings is selected for review. Users can now apply the existing Health Loadings to the scenario being modelled.
If Yes is selected within the Apply Health Loadings pop-up, Premium Modelling > Details > Loadings is updated with the corresponding Health Premium Loadings as part of the Policy Review process.
Note: Apply Health Loadings pop-up will only be available for subsequent existing policies selected for review if loadings applied within Premium Modelling > Details > Loadings are set back to 0% (i.e. No Loadings).
The Risk Researcher Standard Statement of Advice has been updated to enable clients to easily identify existing cover types that have Health Loading applied to them. Existing policies now display associated Health Loadings in an easy-to-read format.
Clients will also be able to produce associated reports detailing Existing Insurance policies containing a Policy Exclusion via the following syntax, enabling users to specify if an Exclusion is being applied to Existing Cover.
<:=cover.loading_exclusion_notes:>Typically, <:for rec in scenario.recommendations.filter(status='hold'):> is used to display the existing products under review, while updating the syntax with <:=scenario.recommendations.premium_loadings_applied:> enables you to specify if a recommended product contains a policy exclusion.
To specify the specific policy exclusion applied to an Insurance Policy, the following syntax would be used:
<:for recommendation in scenario.recommendations.filter(status='hold'):> <:for cover in recommendation.covers:> <:=cover.loading_exclusion_notes:> <:end:> <:end:>Lastly, implemented recommended policies from Risk Researcher that contain a Health Premium Loading will now automatically have the Health Premium Loading field in the implemented Client Focus Insurance Policy record updated with the applicable Health Premium loading.
💬 I would love to hear your feedback, so click 'reply' and leave your comments and questions down below!
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