Configure Policy Parties Roles

In the FintechOS Portal, you can define and configure all roles associated with a policy. Each role can be created, named, and mapped to a standard role type ( e.g., Insured, Policy Holder, Beneficiary, or Other), covering key insurance parties.

After configuration, the system exposes these parties via quote/policy generation APIs (including master quotes and policies) and displays them in relevant forms.

Policy Role Rules

The following rules apply when generating policies, master policies, quotes, and master quotes through the APIs:

  • A Policy has only one Insured;

  • A Policy has only one Policy Holder;

  • A Master Policy and its associated policies may each have one Policy Holder;

  • Policies and master policies support multiple Beneficiaries;

  • Policies and master policies support multiple Other Parties;

  • A policy supports either an Agent or a Broker, not both.

Default Policy Parties Roles

Below is the list of out-of-the-box policy parties roles. To access them, in the FintechOS Portal, go to Main Menu > Contract Management > Contract Management Settings > Insurance Settings > Policy Parties Roles.

NOTE  
Do not delete these values, you can find them in option set FTOS_INS_StandardRoles.
Role Name Standard Role Applies to Policy Mandatory for Policy Applies to Master policy Mandatory for Master policy
Agent Intermediary ✓   ✓  
Beneficiary Beneficiary ✓ ✓    
Broker Intermediary ✓   ✓  
Coinsured Other ✓      
Dependent Other ✓      
Insured Insured ✓ ✓    
Insurer Insurer ✓      
Nominee Insured ✓      
Payer Policy Holder ✓ ✓ ✓ ✓
Policy holder Policy holder ✓ ✓ ✓ ✓
Prime Insured ✓      

Configure Policy Parties

To configure policy roles:

  1. In the FintechOS Portal, go to Main Menu > Contract Management > Contract Management Settings > Insurance Settings > Policy Parties Roles.

  2. Click Insert to create a new role.

  3. Complete the Policy Party Role form with the following details:

    • Role Name: enter a unique name for the role;

    • Standard Role: select Insured, Policy Holder, Beneficiary, or Other;

    • Contract Type: specify whether the role applies to a policy or master policy;

    • Mandatory: indicate whether the role is required for policies, master policies, quotes, or master quotes.

  4. Click Save and Close. The new role is now available in the system and will be listed under Policy Parties Roles.