Services administration Axon
Nowadays insurance companies are integrating professional services with insurance products more often. There is an ongoing shift from the traditional insurance products towards products with a broader service.
For example, products for home safety and mobility where active monitoring, advice and prevention measures are being offered in combination with an insurance.
These professional services are often presented towards consumers as additional covers. However, these covers are technically not insurance covers in the traditional sense and should be treated differently within a policy administration (e.g. VAT instead of insurance tax).
Based on the first input of our customers with regards to their ambition to sell and deliver services, in addition to insurance, Keylane included the development of a service administration in the Axon roadmap. We plan to deliver the first implementation of the services administration by the end of 2020. The basis for the services administration is the possibility of configuring and processing “non-insurance” covers for professional services with a fee and VAT (instead of insurance tax).
The services administration is linked to the new calculation models functionality that Keylane introduced for the Non-Life insurance market last year and it will become available as an add-on.
More information
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