Object Types and Coverage

InsurFront offers a comprehensive system for managing insurance policies and the entities they cover. This article outlines the process for tracking what 'things'—whether objects, individuals, businesses, or others—are covered by each policy product. Understanding the terms 'Type of Insured Entity,' 'Object Type,' and 'Covered Object' is crucial for navigating and utilizing InsurFront effectively.

Understanding Core Terms

Type of Insured Entity

• Definition: A basic categorization of what an insured entity represents, with options including 'Object', 'Individual', 'Business', and 'Other'.

• Purpose: Helps categorize and filter products and informs the development of policy products. Also guides the suggestion of Object Types for covered objects within a policy product.

• Application: A required field when creating or editing policy products. While it aids in categorization, it does not restrict the insured objects to the same type, allowing for flexibility in coverage.

Object Type

• Definition: Describes something or someone that can be insured, such as 'Car', 'Traveler', 'House', etc.

• Functionality: Facilitates the addition of the same insured entity across different policy products, preventing duplicate entries and enabling information reuse.

• Customization: Users can add, hide, display, or require specific data fields when adding a Covered Object, tailoring the information needed for the insurance policy.

Covered Object

• Process: Users can add covered objects to a policy product by navigating to the product's page and accessing the 'Objects' tab.

• Selection: When adding a covered object, users must select an Object Type that aligns with the policy product. InsurFront suggests Object Types based on the product's 'Type of Insured Entity'.

• Flexibility: Users can choose the required fields of information for issuing a policy and decide on the object's coverage across different variants.

Workflow and Permissions

• Adding Covered Objects: To add a Covered Object, navigate to Settings > Products > Select a product > 'Objects' tab. An Object Type must be created beforehand.

• Permission Management: Permissions for creating and editing Object Types and Covered Objects can be adjusted under Settings > System settings > Permission management.

• Integration with External Systems: InsurFront's REST API allows for retrieving and adding data related to insured entities and covered objects, facilitating integration with external platforms.

InsurFront's approach to tracking covered objects ensures a flexible and efficient system for managing insurance policies. By understanding and utilizing the concepts of Type of Insured Entity, Object Type, and Covered Object, users can accurately manage what entities are covered by their insurance products.

Understanding Object Type in InsurFront

Introduction to Object Type

In the insurance industry, particularly within the InsurFront platform, the concept of "Object Type" is foundational for identifying and managing the various entities that can be insured. This term broadly encompasses both tangible and intangible entities, from physical assets like vehicles and properties to individuals and businesses. The Object Type facilitates a structured approach to insurance, allowing for the customization of coverage to meet the diverse needs of policyholders.

The Role of Object Type

An Object Type serves as a template, detailing the specific information needed to insure a particular entity. For example, in car insurance, the Object Type 'Car' would include data fields for the vehicle's make, model, year, and plate number, ensuring that all relevant information is captured and stored systematically. This methodical collection of data simplifies access and analysis, streamlining the insurance process.

For personal insurance policies, Object Types such as 'Traveler' or 'Child' are defined, each with its unique set of data fields tailored to the nuances of insuring an individual under specific circumstances. This customization is key to the platform's flexibility and its ability to meet the evolving demands of the insurance market.

Managing Object Types

Access to create and manage Object Types is restricted to users with appropriate permissions, highlighting the platform's focus on data integrity and security. Through the navigation path Settings > Products > Object Types, authorized personnel can create, define, or modify Object Types and their associated data fields. This level of control allows insurers to adapt their products to changing customer needs and regulatory requirements, maintaining relevance and compliance.

Categorization and Efficiency

Object Types can be categorized in alignment with product categories, enhancing the platform's organizational efficiency. This categorization facilitates easier tracking and filtering of Object Types, making it simpler to associate them with their corresponding policy products. Such organizational strategies reduce administrative overhead and improve the user experience by making policy management more intuitive and less time-consuming.

The implementation of Object Types within InsurFront is crucial for the platform's capability to offer tailored and efficient insurance solutions. By enabling detailed specification and categorization of insured entities, InsurFront allows insurers to provide customized coverage options. This approach not only meets the specific needs of each insured entity but also enhances the overall value and effectiveness of the insurance products available on the platform.

Understanding Covered Objects in InsurFront

Introduction to Covered Objects

Covered Objects within InsurFront play a pivotal role in defining the scope and specifics of insurance coverage. These entities, whether they be objects, individuals, or businesses, are essentially what a policy product is designed to protect. The Covered Object concept allows for a granular level of detail in policy customization, ensuring that each insurance policy accurately reflects the unique aspects of what it insures.

The Process of Adding Covered Objects

To add a Covered Object to a policy product, users navigate to the product’s settings and access the "Objects" tab. This process begins with the selection of an Object Type, which could range from tangible assets like cars and properties to intangible ones such as travel plans or business liabilities. This selection process is critical as it dictates the information that must be gathered and assessed to provide accurate coverage.

After selecting an Object Type, users then define the data fields required for the insurance of the Covered Object. These fields can be made optional or mandatory, depending on the information necessary to underwrite the policy effectively. Additionally, the platform allows users to specify whether a Covered Object should be insured under all policy variants or only specific ones, adding another layer of customization to the insurance products offered.

Interaction with Orders and Insured Entities

The integration of Covered Objects into the ordering process is seamless yet integral. Before an order can be placed, the information regarding the Covered Object must be fully collected. This requirement ensures that all necessary details are available to accurately issue the policy. Customers or agents must either create a new insured entity or select an existing one that matches the Covered Object's details. This step is crucial for maintaining data consistency and preventing the duplication of insured entities across policies.

The assignment of an Object Type to an insured entity during this process is automatic. This feature facilitates the reuse of insured entity information for different policies, enhancing the efficiency of the insurance process. It allows for a streamlined experience for customers and agents alike, making it easier to manage insurance coverage across a variety of needs.

Impact on Policy Management

The concept of Covered Objects significantly impacts how policies are managed within InsurFront. By requiring detailed information for each Covered Object, the platform ensures that policies are accurately tailored to the specific risks and needs of the insured entities. This level of detail supports more accurate underwriting, premium calculation, and claims processing, ultimately leading to a more effective and satisfactory insurance product for both the insurer and the insured.

Covered Objects are a fundamental aspect of InsurFront’s approach to insurance, allowing for a high degree of customization and precision in policy creation. Through the detailed specification of what is covered by each policy, InsurFront provides a robust framework for managing a wide array of insurance products. This system not only enhances the efficiency of the insurance process but also improves the overall quality and relevance of the coverage provided.