Broker C ontract

Definition

Insurance object that maps the contract between a broker and an insurance company .

Use

The broker contract is the basis for the relationship between broker and insurance company.

You use the broker contract as well as the broker account to process payment transactions with the broker.

Structure

In addition to the assignment to the broker contract account and the parameters for paying, dunning and correspondence, specific attributes are stored for insurance objects from the internal category 20 ( Broker Contract ), which control settlement between brokers and insurance companies .

Data for Broker Collections is entered as follows :

  • For example, you use the broker report category to specify how the associated broker rep orts are to be generated.

  • Under Categories you define which categories (premium, commission, claim, costs) a broker can p rocess in broker reports.

  • Under Type of Web Broker you can define that brokers are only to process broker reports for this broker contract with web applications, and how internal system processing is to take place for these broker reports.

Integration

The insurance relationship between the broker contract and the broker is assigned to the broker account .

In Collections/Disbursements, it is also possible to assign a separate commission contract, processed using its own contract account (commission account), to every broker contract for processing commission. One commission contract can be defined for each broker contract.

For more information about web brokers and the corresponding broker report processing, see Broker Report Processing with Web Applications .