Insurance

Insurance is a means of protection from financial loss, in which many people or companies pay a sum of money into the insurer's capital collection point in order to receive compensation for losses from this capital collection point in case a corresponding loss occurs.

Tink Germany can help you to digitalize your insurance process in many different steps of the insurance lifecycle as well as to minimize the manual processes, e.g. by pulling and analyzing account statements automatically, by calculation of customizable KPIs as well as by payment options.

Used platforms

Analytics Platform (XS2A.risk)

Used checks

insurance_contract_check

Provides an overview of the account holders existing insurance contracts including important information about the insurance situation (e.g. insurer, insurance policy number, etc.).

account_status_check

General information about the requested account (account balance, overdraft, etc.). The number of booking dates and bookings and also the average number of bookings per day serve as indicators to see if the account is active and consequently if a general view of the financial and actuarial situation is conveyed.

cashflow

The cashflow supplies an overview of the financial situation of the account holder on a monthly level.

children_check

The children_check supplies the number of children entitled to child benefit. Depending on the family situation different insurances can be relevant and can be offered.

fact_sheet_lists

By means of the fact_sheet_list insurance transactions can be listed. If required this can happen separately per category. Additionally the different counter_holder will be listed (here: different insurance companies).

risk_calculations_check

Risk_calculations_check can be configured as needed.

Insights in the insurances

Monthly liabilities of insurances

Based on all identified insurance transactions e.g. the monthly expenses for insurances or the number of insurance transactions can be calculated per month. Additionally, the median and/ or the average of the monthly summations can serve as a benchmark for monthly debit of insurances. Since insurances are not paid monthly, the average may possibly be the preferred ratio. Different contra accounts show if the depositor took out all insurances or if these are separated on different depositors.

Property insurances / Asset insurances / Automobile insurances / Personal insurances

For the individual kinds of insurances, a series of key figures can be calculated (inter alia does this kind of insurance exist, to what extent (average of the monthly sums), when were they paid for the first and last time, and for which insurance company).

Other key figures

Additionally to insurance ratios, further ratios can be calculated which give information on the life situation of the account holder.

Health care expenditures

In which amount does the account holder monthly spend money in the health care sector (doctors, physiotherapists, pharmacy, medical house, etc.).

Pension payments

Another insurance-related aspect can be the information if the person is retired.

Example configuration

JSON

{
  "language": "de",
  "xs2a_account_status_check": {
    "limit_turnover_days": "365"
  },
  "xs2a_children_check": [],
  "xs2a_risk_calculations_check": {
    "calculations": [
      {
        "categories": [
          "K.8.1"
        ],
        "functions": [
          "sums_of_every_month",
          "counts_of_every_month",
          "median_of_all_month_sums",
          "average_of_all_month_sums",
          "distinct_counter_holders"
        ],
        "name": "Monatliche Belastung aus Versicherungen",
        "days": "365",
        "children_categories": "1",
        "match_tags_with_categories": "0"
      },
      {
        "categories": [
          "K.8.1.1"
        ],
        "functions": [
          "min_date",
          "max_date",
          "exists",
          "counts_of_every_month",
          "average_of_all_month_sums",
          "distinct_counter_holders"
        ],
        "name": "Sachversicherungen",
        "days": "365",
        "children_categories": "1",
        "match_tags_with_categories": "0"
      },
      {
        "categories": [
          "K.8.1.2"
        ],
        "functions": [
          "min_date",
          "max_date",
          "exists",
          "counts_of_every_month",
          "average_of_all_month_sums",
          "distinct_counter_holders"
        ],
        "name": "Vermögensversicherungen",
        "days": "365",
        "children_categories": "1",
        "match_tags_with_categories": "0"
      },
      {
        "categories": [
          "K.8.1.3"
        ],
        "functions": [
          "min_date",
          "max_date",
          "exists",
          "counts_of_every_month",
          "average_of_all_month_sums",
          "distinct_counter_holders"
        ],
        "name": "Fahrzeugversicherungen",
        "days": "365",
        "children_categories": "1",
        "match_tags_with_categories": "0"
      },
      {
        "categories": [
          "K.8.1.4"
        ],
        "functions": [
          "min_date",
          "max_date",
          "exists",
          "counts_of_every_month",
          "average_of_all_month_sums",
          "distinct_counter_holders"
        ],
        "name": "Personenversicherungen",
        "days": "365",
        "children_categories": "1",
        "match_tags_with_categories": "0"
      },
      {
        "categories": [
          "E.4.2"
        ],
        "functions": [
          "exists"
        ],
        "name": "Rentenzahlungen",
        "days": "365",
        "children_categories": "1",
        "match_tags_with_categories": "0"
      },
      {
        "categories": [
          "K.3"
        ],
        "functions": [
          "exists",
          "sums_of_every_month"
        ],
        "name": "Gesundheitskosten",
        "days": "365",
        "children_categories": "1",
        "match_tags_with_categories": "0"
      }
    ]
  },
  "xs2a_cashflow_overview": [],
  "xs2a_fact_sheet_lists": {
    "limit_turnover_days": "365",
    "fields": [
      {
        "categories": [
          "K.8.1"
        ],
        "name": "Versicherungsumsätze"
      }
    ]
  }
}