The 7.9 release includes support for Oracle Database 19c and introduces new major features like quote on renewal, cash-based commission and GDPR improvements, as well as a number of minor enhancements based on feedback from customers.
What are the key business benefits of the new release?
Quote on renewal Based on customer feedback, the new quote on renewal process makes it possible to perform an underwriting process on a renewed policy before issuing the real renewal.
Cash-based commission Cash-based commission is a new commission calculation method in addition to the existing written-based commission and collected-based commission methods.
GDPR improvements
A number of improvements have been introduced to the data deletion part of the GDPR functionality.
The data deletion part of the GDPR solution identified records to be kept in the system but did not offer any identification of the validation that identified the specific record not to be deleted. This release includes the possibility to write to a dedicated log file why data was kept in the system, the underlying table is GDPR_STATUS_LOG.
Also, to keep GDPR messages separate from generic messages, GDPR validation failure messages are now stored in a new log, GDPR_VALIDATIONS_LOG, instead of TIA LOG.
Price per risk
As a performance improvement, and also to make the object and risk price available for other processes like a premium specification document, the price for each risk and for the object is now stored in the database when a transaction is completed.
The premium will be reused by the tariff algorithm in next transactions if the object is not changed.
As there might be scenarios where the price must be recalculated even when the object is not changed in the current transaction, the solution includes a new business function uf90_recalculate_object . The business function enables customers to set up rules for re-calculation of an object by returning a flag that the tariff algorithm uses as part of deciding if a re-calculation is needed or not
Selected additional updates
Party Area improvements In the Party area the Party Overview page is a key component for handling customers and the focus on Party Overview in this release has been to ensure even better performance and to provide an easy overview of related people, for example within a household.
Claims area improvements In Claims area the main focus has been to ensure even better performance, not at least for fleet customers. We have also implemented enhancements to several processes, making it more efficient for claims handlers to do their daily work
Policy area improvements In Policy area the main focus has been to ensure even better performance, not at least for fleet policies and several initiatives have been implemented to speed up the premium calculation process.
Get in touch with one of our experts at tia@tiatechnology.com if you’re curious. Don’t be afraid to get technical. We kinda like that.
