Underwriting Agency (MGA): Product Configuration

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Setting Up an Underwriting Product

In this guide, we’ll cover how to set up underwriting products in the Novulo Underwriting Solution. Follow the videos or step-by-step instructions for each type to ensure proper configuration.

1. SUIV Product Setup

An SUIV Product (Standard Underwriting Insurance Variation) is a pre-configured product with standardized settings that can be quickly deployed.

1. Import Sales Item from GIM Message

  1. Navigate to All apps - Settings in Novulo.
  2. On the left panel, search for GIM and click on GIM Registers.
  3. Select the GIM register containing the sales item.
  4. Under Objects, select the desired GIM message.
  5. Check the desired product(s) to import and click Generate GIM Transformation.

2. Modify GIM Function of Sales Item

  1. Go to Settings > GIM Registers.
  2. Open the GIM register without selecting (checking) it.
  3. Select the product to modify without checking it.
  4. Under Functions, adjust the context of the function to Unknown to disable it.
  5. Save the changes.

3. Import AFD Definition of Sales Item

  1. Navigate to Settings > AFD Definitions.
  2. Click Update Definitions to ensure the latest versions are available.
  3. Select the desired AFD definition and click Retrieve AFD Definition Files.
  4. If the option is unavailable, enable “To Download” under the edit menu and save.

4. Create Product (if not present)

  1. Navigate to Products in Novulo.
  2. Click Add Product.
  3. Fill out the following fields:
    • Article Number/Type: Create a new article number; Type = Bundle.
    • Name: Specify the product group (e.g., Home Contents).
    • Product Group: Select from the dropdown list.
    • Unit/Unit Group: Policy / Insurance.
    • Other fields: Leave blank as required.
  4. Save the product.

5. Create Sales Item

  1. Navigate to Products.
  2. Select the product to which the sales item belongs.
  3. Click Add Sales Item and fill in:
    • Description: Name of the product from the insurance company.
    • Company: Select the relevant insurance company.
    • Pricing and Settings: Configure as needed.
    • GIM Product: Link the GIM product from the company.
  4. Save the sales item.

6. Create Coverage

  1. Go to Products.
  2. Select the product and click Add Coverage.
  3. Provide the following details:
    • Article Number: AFD coverage entity (e.g., DA, RP).
    • Name: AFD coverage name.
    • Product Group: Coverages.
    • Unit: Policy.
  4. Save the coverage.

7. Set Up Questions and Default Answers

  1. Configure questions for coverage:
    • Add relevant AFD codes and default answers.
    • Ensure website settings are correctly applied.
  2. Save configurations.

8. Make Sales Item Available for (Online) Sales

  1. Open the desired product and navigate to the Sales Items block.
  2. Select the sales item.
  3. Ensure the Active field is set to Yes under the Sales block.
  4. Configure the Composition Combinations block to active.
  5. Save the changes.

2. Custom Product Setup

A Custom Product is fully tailored to your agency’s specific needs, allowing for unique coverage types, underwriting rules, and pricing structures.
Lowcodehowto Logo Watch the video tutorial by lowcodehowto for how to configure a Liability product with one coverage and how to use it in policy issuing
Een eenvoudig verzekeringsproduct inrichten (Dutch)
Lowcodehowto Logo Watch the video tutorial by lowcodehowto for how to configure a premium calculation engine
Een rekenbox inrichten in Novulo (Dutch)
Lowcodehowto Logo Watch the video tutorial by lowcodehowto for how to configure policy number determination
Referentiebepaling voor Verzekeringen inrichten (Dutch)
Novulo Logo Read the post about about acceptance templates to (automatically) accept/reject policies.
Configuring an acceptance template

3. Customizing Output Documents

Tailoring your output, such as policy documents (polisbladen) and invoices, is a key part of creating a professional and consistent experience for your clients. In this section, we’ll cover how to adjust these outputs to match your branding and operational requirements.

  1. Logo and Branding: Add your company’s logo and adjust color schemes to match your branding.
  2. Layout and Formatting:
    • Customize headers and footers.
    • Define the structure of policy details, terms, and conditions.
  3. Dynamic Fields: Use placeholders for client-specific data, such as names, policy numbers, and coverage details.

Customizing your outputs ensures a professional presentation and enhances client trust. Take the time to configure them according to your agency’s unique needs!

Wiki links: Document generation: Activities and content blocks

Support and Resources

  • Need help? Post your question on this forum.
  • Explore additional tutorials in our Wiki.

Once your products are set up, you can proceed with policy issuance and management.

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