This sub module captures the details of the insurance policy(s) in order to cover the risk(s) of the collateral that are provided by the customer against the requested loan facilities.
The key features of Insurance Management are as follows:
- Captures the Details of the Co-Insurer Company Share(s) in the Insurance Policy
Loan Management Solution – CorrCMS captures details of an insurer and any applicable co-insurer(s) under an insurance policy, along with their participated amount.
- Linking of Insurance Policy(s) with Collateral(s)
Functionality is provided to link insurance policy(s) with collateral(s) and to share the available insurance amount under each insurance policy with the linked collateral to cover the collateral exposure. It covers the following scenarios:
- Link one insurance policy with one collateral
- Link one insurance policy with multiple collateral(s)
- Link multiple insurance policy(s) with one collateral
- Link multiple insurance policy(s) with multiple collateral(s)