Introduction to Lending Insurances

This functionality allows Financial Institutions to offer insurance products for its Line of Credit (LOC) products. The insurance product offering for the LOC product is based on age-group wise rate eligibility, gender and smoking habits of the customer. The facilitation for the accessed provincial taxes on the insurance product are also applicable and accounted for the LOC product.

The following applications are enquiries are introduced as part of this functionality:

• The LENIS.INSURANCE.PARAM application is introduced to configure the age, rate and the amortisation rate for insurance premium calculation.
• The LENIS.INSURANCE.ENQUIRY enquiry allows users to search the insurance information of the customer and co-borrower.