Overview

The Credit Protection Insurance (CPI) Receipt Report provides detailed information on insurance premiums collected, specifically designed for the credit protection service provider. This report links collected insurance premiums to branches and loans where credit protection is applicable.

Key Principle: Any receipt received is first allocated towards due insurance premiums to determine what has been paid. Even if an insurance policy has lapsed, if an installment was received on the loan, the collected premium forming part of that loan installment will be shown on this report and is payable to the Insurer by the Credit Provider. Even if a Credit Provider ends their agreement with an Insurer, reporting will continue for loans with active insurance policies that haven't lapsed or reached their final installment date.

Note: This report disregards the Merchant Product of entities and instead focuses on the CPI on loans per entity. This ensures loans appear on the report even if the CPI Module is deactivated on an entity.

Accessing the Report

To access this report, navigate to: Reporting > Insurance > Credit Protection Insurance Monthly Report.

Security

To access this report, your user role must have the Credit Protection Insurance Monthly Report option enabled under the Report section in Role Setup.

Service Provider Selection

When generating this report, select the CPI Premium Receipt Report for the Service Provider your Legal Entity is integrated with:

• 1Surance

• ASPIS

• Kepler

• Other

• Universal

Note: The specifications for this report are set up by ASPIS.

Filters/Selections

The report offers the following filters to help you customize your data:

General

• File Format: (Required) Choose your desired output format: XLS or XLSX.

• Date Start: (Required) Enter the start date in dd/mm/yyyy format. The report will generate for installments where the due date falls within the specified date range.

• Date End: (Required) Enter the end date in dd/mm/yyyy format. The report will generate for installments where the due date falls within the specified date range.

• GLP Product: You can generate the report for a specific (GLP) insurance product.

Available Buttons

• Cancel: Select this button to cancel your request and return to the previous page.

• Finish: Select this button to generate the report based on your chosen filters.

Output Format

You can print, view, or email the Credit Protection Insurance Monthly Report.

• View Online: You can view the report directly within the system.

• Print: Print a physical copy of the report.

• Email: Email the report to a specified user. To use this feature, ensure the necessary email address is set up on the user's profile (Setup > Security > Users) and that the user is selected for email in the Cash Box Setup (Setup > Branches > Cash Box).

• Spreadsheet (XLS/XLSX): Click the "XLS: Credit Protection Insurance Monthly Report" hyperlink to open the report in a spreadsheet application like Excel. This format allows for easy sorting and manipulation of the information to suit your specific business needs.

Sorting/Display Order

The report is primarily sorted by Branch Name, then by Client Surname, Client First Name, and finally by Loan Number.

Columns/Detail

The report displays the following detailed information:

Office Details

• Branch Name: The home branch of the client where they are linked.

• Branch Code: The branch code.

Receipt Details

• Receipt Creation Date: The date when the receipt was created. This information can be compared with the Client Transaction.

• Receipt Date: The date of the receipt. This information can be compared with the Client Transaction.

• Receipt Amount: The amount of the receipt. This information can be compared with the Client Transaction.

• Receipt Description: The description of the receipt, indicating which Financial Event was used during processing. This information can be compared with the Client Transaction.

Loan Details

• Loan Comment: Displays "Receipt in Period".

• Payment Note: Displays "Receipt in Period".

• Product: The insurance product used, as set up on the Legal Entity. This information can be compared with the Insurance Setup.

• Self Insurance: Indicates if Self Insurance was used in this transaction. This information can be compared with the Insurance Setup.

• Loan Number: The loan number to which the insurance was posted. This information can be compared with the Loan History. (The Global ID and the Loan number will display on the insurer’s merchant account if Allps payment allocation is used).

• Loan Frequency: The loan frequency set up for the client. This information can be compared with the Client Payback Information.

• No of Instalment: The number of installments on the loan transaction. This information can be compared with the Loan History.

• Loan Capital Amount: The loan capital amount on the loan transaction. This information can be compared with the Loan History.

• Outstanding on Loan: The total outstanding amount on the loan. This information can be compared with the Loan History.

• Loan Total: The total loan amount. This information can be compared with the Loan History.

• Loan Agreement Date: The loan agreement date. This information can be compared with the Loan History.

• Final Instalment Agreement Date: The final installment agreement date on the loan. This information can be compared with the Loan History.

• Instalment Amount: The installment amount on the loan. This information can be compared with the Loan History.

• Loan Status: The loan status. This information can be compared with the Loan History.

Policy Details

• Lapsed Date: The date when the insurance policy lapsed. This information can be compared with the Loan History.

• Policy Status: The insurance policy status (currently not available). This information can be compared with the Loan History.

• Total Premium Charged: The total insurance premium charged on this transaction. The final premium amount will appear in this column. This information can be compared with the Loan History.

• Premium Collected: The total amount of insurance premium received on this transaction. This includes all premium charged. This information can be compared with the Loan History.

• Policy Number: A combination of the Branch Code, loan number, and client number. (The Global ID and the Loan number will display on the insurer’s merchant account if Allps payment allocation is used).

• Premium Percentage Charged: This can be either a rate or incremental method, depending on the setup of the insurance product.

• First Month Premium: If applicable, this is the premium amount charged for the first calendar month of the contracted loan agreed period. It will differ from the monthly premium if pro-rata first month calculation is set up on the product. It will be zero if the month of the first installment, final installment, and loan agreement date are the same.

• Monthly Premium: The amount calculated for one full calendar month, charged only for full calendar months in the contracted loan agreed period.

• Final Month Premium: The premium amount charged for the final calendar month of the contracted loan agreed period. It will differ from the monthly premium if a pro-rata final month calculation is set up on the product.

• Premium Instalment portion: Calculated as Total Premium Charged / Number of installments.

• Premium Receipt portion: Calculated as Receipt Amount * Total Premium Charged / Loan Total.

• Payment Allocation Sent: Indicates "Yes" or "No" to show if the payment allocation was sent successfully.

• Allocated Reference No: Displays the Amplifin Allocated Reference Number for the insurance installment portion. The insurance premium installment portion is paid into the insurer’s merchant account, not the microlender’s merchant account.

Client Details

• Client Number: The client number for whom this loan transaction was processed. This information can be compared with the Client Profile.

• ID Number: The client's ID number. This information can be compared with the Client Profile.

• Name: The client's name. This information can be compared with the Client Profile.

• Surname: The client's surname. This information can be compared with the Client Profile.

• Employer: The client's employer name. This information can be compared with the Client Profile.

• Address: The client's address details. This information can be compared with the Client Profile.

• Code: The client's address code. This information can be compared with the Client Profile.

• Cellphone: The client's cellphone number. This information can be compared with the Client Profile.

Available Buttons

• Back to Filter Option: Select this button to cancel your request and return to the previous page to adjust your report filters.

• Email Report: Click this button to receive this report via email.