Insurance Functionality And Reporting

General Details

The Insurance functionality is an additional module in Victoury, activated for tenants who need to regularly report new and modified insurances to insurance companies.

Typically, tenants work with two types of insurances:

1. Cancellation insurance, where the sell price (premium) is calculated as a percentage of the total travel price, excluding other insurance arrangements (using price rule 20).
2. Travel insurance – insurance with a fixed sell value.

Insurance Settings

Whenever an operator books an insurance product and its arrangement is added to a deal, Victoury creates an insurance record in the Insurances entity. The products for which insurance records are automatically created upon being added as an arrangement can be defined in Settings / General / Reportable Insurance Products.

This setting allows the operator to choose any product from the Insurance Categories (another setting available in Settings / General).

An Insurance record includes the premium (sell price per traveler), buy price, commission, status, price types 1, 2, 3, 4, the product code, last reported premium, traveler name, total travel price (from which the premium is calculated), relation to the arrangement and to the deal, booking code, booking date, travel date, and reporting date.

The system creates an insurance record for each traveler for each arrangement (with the Product code set as a Reportable insurance product).

When the total travel price of a deal is modified and the insurance product price has a Rule 20 setting applied, the system updates the related insurance records depending on their status.

When reported, the insurance records are updated as well. Their status is set to “Reported,” the premium value is copied into the last reported premium, and then set to 0.

For reporting purposes, Victoury offers an intuitive and easy-to-use reporting tool.

Creating And Updating Insurance Records

The creation and update of insurance records are limited to deals of type = B (Bookings) and arrangements set as Reportable Insurance Products, excluding Alternative arrangements or those Not included in the total.

When a deal of type Booking is created, the system generates as many insurance records as there are travelers assigned to valid insurance arrangements – see conditions above.

The insurance records are updated due to the following actions:

1. Create or Update A Non-insurance Arrangement

• If there are already insurance arrangements, the system updates the existing insurance records and updates the Insurance Status according to the conditions below:
• if Status is Pending – does not update status
• if Status is Reported – updates status to Changed
• if Status is Changed – does not update status
• if Status is Canceled – does not update status

2. Delete A Non-insurance Arrangement

If there are already insurance arrangements, the system updates the existing insurance records.

3. Add An Insurance Arrangement

The system creates as many insurance records as there are travelers assigned to valid insurance arrangements – see conditions above.

4. Update An Insurance Arrangement

The system updates insurance record fields and updates Insurance Status according to the conditions below:

• if Status is Pending – does not update status
• if Status is Reported – updates status to Changed
• if Status is Changed – does not update status
• if Status is Canceled – does not update status

5. Assign A Traveler To An Insurance Arrangement

The system creates new insurance records for the newly assigned travelers.

6. Unassign A Traveler From An Insurance Arrangement

The system updates insurance record fields and updates Insurance Status according to the conditions below:

• If Status is Pending – deletes the insurance record for the unassigned traveler
• If Status is Reported – copies value in Premium as negative from Last Reported Premium, updates status to Canceled
• If Status is Changed – copies value in insurance.premium as negative from Last Reported Premium, updates status to Canceled
• If Status is Canceled – does not update the record

7. Delete An Insurance Arrangement

The system updates insurance record fields and updates Insurance Status according to the conditions below:

• If Status is Pending – deletes the insurance record(s) for the deleted arrangement
• If Status is Reported – copies value in Premium as negative from Last Reported Premium, updates status to Canceled
• If Status is Changed – copies value in insurance.premium as negative from Last Reported Premium, updates status to Canceled
• If Status is Canceled – does not update the record

8. Cancel A Deal

When a Booking is canceled, the system updates all insurance records of the deal and sets the Status to Canceled.

• If Status is Pending – updates status to Canceled
• If Status is Reported – copies value in Premium as negative from Last Reported Premium, updates status to Canceled
• If Status is Changed – copies value in insurance.premium as negative from Last Reported Premium, updates status to Canceled
• If Status is Canceled – does not update the record

9. Update An Option To A Booking

When the Option to Booking functionality is used, the system creates as many insurance records as there are travelers assigned to valid insurance arrangements.

10. Delete A Deal

When a Deal is deleted, the system updates all insurance records of the deal and sets the Status to Canceled.

• If Status is Pending – deletes the insurance records for the deleted arrangements
• If Status is Reported – copies value in Premium as negative from Last Reported Premium, updates status to Canceled
• If Status is Changed – copies value in insurance.premium as negative from Last Reported Premium, updates status to Canceled
• If Status is Canceled – does not update the record

Insurance Status Choicelist Records

• PEN – Pending
• CHA – Changed
• REP – Reported
• CAN – Canceled

Menu Options For Insurances (Operations)

For each tenant with the Insurance module activated, the left menu features the Insurances menu option under Operations.

Insurance Listing

• List menu options:
  • View – opens the detailed view of the Insurance record
  • Report – opens the Reporting tool Search overlay
• Export to Excel of search results
• Change status of search results – Reported or Not Reported

Advanced Search In Insurances By

• Booking Date (interval)
• Travel Date (interval)
• Product Code
• Price Type 1
• Price Type 2
• Price Type 3
• Price Type 4
• Traveler name
• Status

Reporting Insurances

When the Report menu option is clicked, the system displays an overlay with the below search criteria:

1. Select insurance records (mandatory)
   1. New (status = Pending)
   2. Changed (status = Changed)
   3. Canceled (status = Canceled)
2. Booking Date – date interval selection – mandatory only if NEW is selected above. If CHANGED or CANCELED is selected, the date interval is disabled.
3. Brand – drop-down with Brands – (mandatory, one selection allowed)
4. Product – drop-down of distinct values of product codes from insurance (mandatory, one selection allowed)

The system asks the operator if records can be set to reported and downloads the generated PDF regardless of the response:

• YES
• NO

If confirmed by the operator, the system updates the following insurance fields:

• Premium
• OldPremium
• Status
• Update Date
• Date Reported

after generating and downloading the PDF report.