Suspense and Multiple Currencies

When money is paid to an insurance company from a client, it is placed into a suspense account. This account must be able to support the various currencies in which a client could make payment to the insurance company. Suspense functionality allows OIPA to accept payment from clients in various currencies.

Multi-Currency Support

OIPA supports multiple currencies during suspense in OIPA in order to:

Scenario

The following scenario demonstrates multi-currency suspense processing.

Configuration Requirements

There are several components that must be present in order to use suspense in OIPA. They include:

Optional Additional Configuration

Prototype Samples

There are three transactions configured to demonstrate this functionality. Navigate in the Main Explorer to Companies | Prototype Company | Subsidiary Companies | Prototype Child Company | Plans | Functional Prototype Plan | Transactions | Policy Transactions.

suspense transactions in Main Explorer

Suspense Transactions in Main Explorer

There are four business rules configured to demonstrate this functionality.

     
Copyright © 2017, Oracle and/or its affiliates. All rights reserved. About Oracle Insurance | Contact Us