Products and Contracts – FSI

You can store information on customers’ products and contracts in Aurea CRM and manage these products.

Customers can take on various roles depending on the product, e.g. account holder, guarantor, beneficiary etc.

Various products can be combined to form contracts, and various contracts can be bundled to depict complex financial products.

The following diagram illustrates the relationships between products, contracts and bundles:

You can:

• Manage items in the Product Master info area and transfer product data to other info areas, see Product Master.
• Add customers’ products, e.g. accounts, loans, services, securities, insurance policies, assets, see Product Groups.
• Create risk profiles for securities according to MiFID, see MiFID.
• Display an overview of a customer’s products, see Product Overview.
• Enter customers’ roles for various products (e.g. beneficiary), see Roles.
• Group products into contracts and group contracts into bundles, see Contracts and Bundles.

Example:

A customer has multiple insurance policies that are grouped together in a bundle for business and legal purposes. The contracts themselves consist of various products. For example, the "Family security" bundle consists of an endowment policy and an indemnity insurance policy. The endowment policy in turn consists of a life insurance policy and vocational disability insurance policy. Various roles can be defined for bundles, contracts and products. The endowment policy thus has a policy holder and a contributor, the life insurance also includes a beneficiary who benefits in the case of death.