4.72.01 Enhanced Groups R-US Insurance Integration

August 2024

We're excited to announce the enhanced integration of Groups R US insurance premium calculations directly into the loan origination process. These enhancements eliminate the risk of generating loan agreements or promissory notes without the corresponding insurance premiums.

Unlike the previous process where insurance premiums were added during the payout workflow, the updated method adds the insurance premium within the origination process.

When selecting the loan product, ensure optional insurance is included as outlined below.

Origination Step 5 - Product Selection

Mobiloan will calculate and display the corresponding monthly insurance premium. To proceed, please acknowledge the insurance terms by checking the provided box.

Once confirmed, the premium is automatically calculated and incorporated into the monthly repayment schedule, providing a clear overview of the client's total cost.

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To summarize, the key benefits of this feature include:

1. Time saving - No longer reliant on external servers and internet connectivity to retrieve premium amounts.

2. Affordability Accuracy - By calculating premiums upfront, the client's surplus is more accurately reflected after deducting insurance premiums

3. Enhanced user experience - Seamless insurance integration simplifies the loan application process.

For detailed information on how the insurance workflow integrates within the loan origination workflow, please refer to the following link

New Loan | User Guide