USER MANUAL

IDV IMPLEMENTATION FOR MOTOR

TABLE OF CONTENTS

QUOTE CREATION..................................................................................................................................3

REGISTERING AUTHORITY DEFAULTING.................................................................................................3

MSP DEFAULTING...................................................................................................................................6

IDV CHANGE ALLOWED..........................................................................................................................8

PREMIUM CALCULATION........................................................................................................................9

RECEIPT GENERATION..........................................................................................................................10

POLICY GENERATION............................................................................................................................11

END OF DOCUMENT.............................................................................................................................12
Quote Creation
Create a quote for MCY product and enter the mandatory fields.

Registering Authority Defaulting.

After entering the registration no, registering authority code and Name is defaulted by system.
After entering the Engine & Chassis number, the user should select the Make.

Model will be listed (Which has associated with make of vehicle) based on selection make of vehicle.
Variant will be listed (Which has associated with make and model) based on selection of make of vehicle
and model.

MSP Defaulting.
MSP is defaulted from the MSP master based on the following:
 Class of vehicle (Vehicle Type)
 Vehicle Make/Model/Variant
 State of Registration from selected RTA
 Age of the vehicle as on policy effective date. (Note: Age is calculated based on Date of first registration
and Policy effective date. For unregistered vehicles, age is calculated based on Date of manufacture)
Following fields are defaulted, apart from MSP, based on the input value of vehicle make/model/variant (user will
be allowed to edit the values if required)
 Body Type
 Cubic Capacity
 Seating capacity
 Basic value of vehicle IDV based on Date of Delivery/Purchase or Date of First Registration
whichever early.
IDV change allowed
User will be allowed to modify IDV value defaulted from the master

For vehicle less than equal to 5 years, variation should be limited to +/- 5%

50829*95% = 48288

50829*105% = 53370

If the user gives a value beyond the range, the system would throw an error message at the time of
hitting the Calculate, Save or Next button.
For 6-10 years, max variation can be +/- 10%

50829*90% = 45746

50829*110% = 55912

For vehicle greater than 10 years, default IDV can be edited subject to max of +29.5% subject to minimum IDV and
pre acceptance inspection

50829*70.5% = 35834.45(Round off: 35834)

50829*129.5% = 65823.56(Round off: 65823.56)

Premium Calculation.
Add the Plan and cover type and calculate the premium

System calculates the premium successfully.

Receipt generation
Collection is made successfully.
Policy Generation
Policy print is generated successfully.

End of Document