Qld Lowest Price Car Insurance or we ll beat it by 10% Process Guide Process for New Business

Transcription

1 Qld Lowest Price Car Insurance or we ll beat it by 10% Process Guide Process for New Business Follow the steps below to calculate our price variance, determine the fulfilment procedure and adjust the system generated premium NRMA Qld policies only Comprehensive, TPPD and TPFT only (not Comp plus, CTP, Motorcycle) Lowest Price Offer is not available in conjunction with 2 Year Fixed Price Step 1 Customer enquires about Lowest Price Car Insurance offer Offer can also be introduced to overcome a price objection Step 2 Ask the customer the effective date of the competitor quote or renewal (Confirm it is dated within 30 days prior to the NB estimate effective date) Calculate a premium estimate matching the following underwriting details from the competitor documents for the insurance product Car Policy Risk Type i.e. Comprehensive, TPPD, TPFT Sum insured Agreed / Market Value Vehicle Year, Make, Model and Variance Age of youngest and eldest driver Area garaged Business / Private use Payment method Annual, PBTM Options hire car and windscreen only as per competitor documents Excess Competitor excess must be less than or equal to NRMA YOI NRMA Qld will match 5 or more YOI from another insurer

2 Step 3 If the competitor s price is lower than the NRMA premium estimate, use the Excel calculator provided to determine our new premium offer and how to process the policy Enter the competitor s premium in the green box Enter our premium in the purple Box The calculator will determine the new premium including the extra 10% discount Step 4 If the calculator says Override new business or renewal premium to offer price please follow steps in Path 1 If the calculator says Escalation required. Do not override please follow steps in Path 2

3 Path 1 Override new business premium to offer price Please follow the below steps During the new business creation: Ensure the correct billing plan is selected (i.e. Annual or PBTM) Continue to the Premium Confirmation screen Select Details to initiate the Premium Override process

4 Highlight the Premium and then select the Override button Enter the Override amount

5 Use the drop down box to select the Override type as Gross Use the drop down box to select the Override Reason Campaign 1 Complete the New Business Transaction as per the normal process Message the Policy as follows: Message Title: QLD Lowest Price Applied Message Type: MPO Amendable: No Deletable: Yes Ask for immediate payment to secure the customer Update customer contact numbers

6 Path 2 Escalation required. Do not override Please follow the below steps Inform the customer of the potential premium offer Ensure correct billing plan is selected (i.e. Annual or PBTM) DO NOT override premium Complete policy with original NRMA premium following normal process Advise Customer they must send in the following information via o Post: National Customer Operations Reply Paid 9871 IN YOUR CAPITAL CITY o Fax: or o NRMAQLDCampaign@iag.com.au within 14 days: Quote or policy documentation detailing all points in step 2 along with their: NRMA MOT policy number Full name Address and Contact telephone number Inform the customer that in the meantime they will soon receive the policy details at the original NRMA price Inform the customer that once the policy documents are received, if we are satisfied that the policy details on their documents are likefor-like we will then mail an updated certificate with the discounted offer We may need to contact the customer to confirm further details or to provide a revised estimate based on the documents provided Payment of the insurance is still required within 21 days to ensure their cover continues Update customer contact numbers National Customer Operations will fulfil the backend process and follow up with the customer if necessary

7 Qld Lowest Price Car Insurance or we ll beat it by 10% Process Guide Process for policies in Renewal Follow the steps below to calculate our price variance, determine the fulfilment procedure and adjust the system generated premium NRMA Qld policies only Comprehensive, TPPD and TPFT only (not Comp plus, CTP, Motorcycle) Lowest Price Offer is not available in conjunction with 2 Year Fixed Price Step 1 Customer enquires about Lowest Price offer on their NRMA Qld Car Insurance renewal Step 2 Ask the customer the competing price If it is lower than the NRMA renewal price, ask the questions below to confirm like-for-like Date of quote/price (Must be dated within 30 days of renewal date) Car Policy Risk Type i.e. Comprehensive, TPPD, TPFT Sum insured Agreed / Market Value Vehicle Year, Make, Model and Variance Age of youngest and eldest driver Area garaged Business / Private use Payment method Annual, PBTM Options Hire car and windscreen only Accessories and modifications noted on their policy Excess Competitor excess must be less than or equal to NRMA If any differences explain to the customer the quotes are not comparable

8 Step 3 Use the Excel calculator provided to determine the fixed premium Enter the competitor s premium in the green box Enter our premium in the purple Box The calculator will determine the new premium including the extra 10% discount Step 4 If the calculator says Override new business or renewal premium to offer price please follow steps in Path 1 If the calculator says Escalation required. Do not override please follow steps in Path 2

9 Path 1 Override renewal premium to offer price Please follow the below steps: Ensure correct billing plan is selected (i.e. Annual or PBTM) Proceed to the Amend Policy screen (Policy must be in Renewal status) Tick the Renewal Premium Override box. Select OK to continue. Select Details in the Premium Confirmation screen Highlight the Premium and then select the Override button

10 Enter the Override amount Use the drop down box to select the Override type as Gross Use the drop down box to select the Override Reason New Car Campaign

11 Select OK in the Premium Confirmation screen to proceed A warning message will appear advising that the policy requires authorisation. Please refer to your relevant support area to have the policy authorised Once the policy has been authorised, advance the renewal using the standard process Message the Policy as follows Message Title: QLD Lowest Price Applied Message Type: MPO Amendable: No Deletable: Yes Accept the renewal payment from your customer Update customer contact numbers

12 Path 2 Escalation required. Do not override Please follow the below steps Inform the customer of the potential renewal premium adjustment Ensure correct billing plan is selected (i.e. Annual or PBTM) DO NOT override premium Advise Customer they must send in the following information via o Post: National Customer Operations Reply Paid 9871 IN YOUR CAPITAL CITY o Fax: or o NRMAQLDCampaign@iag.com.au within 14 days (or within payment acceptance guidelines, whichever is sooner): Quote or policy documentation detailing all points in step 2 along with their: NRMA MOT policy number Full name Address and Contact telephone number Documents must still be received within usual payment acceptance guidelines for policy renewal Inform the customer if we are satisfied that the policy details on their documents are comparable we will mail the discounted renewal offer. We may need to contact the customer to confirm further details or to provide a revised estimate based on the documents provided Update customer contact numbers National Customer Operations will fulfil backend process and follow up with customer if necessary