2.4 Process Policy Transaction Exchange Rate Enrichment

This topic provides the systematic instructions to invoke Policy Transaction Exchange Rate Enrichment.

The initial investment for a policy can be deposited in multiple currencies. If the exchange rate is not available while saving the policy, the policy is incompletely generated and hence the underlying UT transactions are also generated incompletely. Till the policy is allocated, it can be enriched. The enrichment can be done using the Policy Transaction Exchange Rate Enrichment screen.

All the settlements of a policy transaction need to be enriched before the policy transaction itself can be enriched. When the settlements are being enriched, the system will compute the policy transaction amount and asset allocation ratio. Subsequently, when the policy transaction is enriched, the system will convert the policy transaction amount in terms of the policy base currency.

  1. On Home screen, type LEDTXNEE in the text box, and click Next.
    The Policy Transaction Exchange Rate Enrichment screen is displayed.

    Figure 2-22 Policy Transaction Exchange Rate Enrichment


    Description of Figure 2-22 follows
    Description of "Figure 2-22 Policy Transaction Exchange Rate Enrichment"

  2. On Policy Transaction Exchange Rate Enrichment screen, click New to enter the details.
    For more information on fields, refer to the field description table.

    Table 2-24 Policy Transaction Exchange Rate Enrichment - Field Description

    Field Description
    Enrichment Option

    Optional

    Select the enrichment option from the adjoining drop-down list. The options are:
    • Policy Settlement
    • Policy Transaction
    Details This section displays the following details.
    Product ID

    Alphanumeric; 10 Characters; Optional

    Specify the Product ID for which you wish to enrich transactions.
    Policy Number

    Alphanumeric; 16 Characters; Optional

    Specify the policy number for which enrichment is required.
    Policy Txn Number

    Alphanumeric; 16 Characters; Optional

    Specify the policy transaction number for which enrichment is required.
    Source ID

    Alphanumeric; 6 Characters; Optional

    Specify the Source ID for which enrichment is required.
    Source Name

    Display

    The system defaults the name for the Source ID selected.
    From Date

    Date Format; Optional

    Specify the date from which enrichment is required.
    To Date

    Date Format; Optional

    Specify the date till which enrichment is required.
  3. Click OK after you specified the required details.
    The system will display all the matching records in the Exchange Rate Enrichment Details grid.

Exchange Rate Enrichment Details

  1. View the following values in the Exchange Rate Enrichment Details section.
    The system will display the following values for the records matching the criteria specified above.
    • Product ID
    • Policy Number
    • Policy Txn Number
    • From Currency
    • From Amount
    • To Currency
    • To Amount
    • Source ID
    • Exchange Rate Applied
    • Override Exchange Rate?
    • FX Deal Date
    • FX Value Date
    • Operate
    • Status
  2. If you have selected Policy Settlement as the Enrichment Option, then all settlement details for the selected policy are available and the exchange rates can be enriched from settlement currency to transaction currency.
  3. If Policy Transaction has been selected as the Enrichment Option, then exchange rate details to convert the policy transaction amount into policy base currency can be changed (after the settlements of the policy transactions have been enriched).

    Note:

    If you have not changed the FX Deal Date and FX Value Date, that is, the dates are current dates, then the LEP policy settlement and policy transaction will not be available for enrichment on the next day. This is because clearance would have been done during EOD.
  4. If you change the FX Deal Date and FX Value Date to the next day, then policy settlement and policy transaction will be available for enrichment the next day.

Parent topic: Policy