Structure Changes and Data Enhancements

Transcription

1 Structure Changes and Data Enhancements 19 October 2016

2 Table of Contents Table of Contents Introduction New Columns General Insurance Column Deletions Wealth Management Column Replacements Wealth Management Column Renames Wealth Management General Insurance Banking Column Data Type Changes Life and Protection Life and Protection General Insurance Banking DNA Structure Changes Wealth Management Page 2 of 18

3 1 Introduction This document describes data structure changes that have recently been made to Defaqto Matrix tables. These changes have been made to broaden the data, enhance filtering, improve consistency, and in some cases remove data that is no longer relevant. If you have any questions relating to these changes, please contact Customer Success on or at 2 New Columns The following columns were introduced to Matrix between 21 st June and 26 th September Descriptions for what these columns mean can be found by hovering over the column headings in Matrix. 2.1 General Insurance The following cruise insurance columns have been added to the Annual and Single Trip insurance tables: Cruise Cover Type Minimum Cruise Duration Maximum Cruise Duration Maximum Cruise Age Cruise Cancellation - Sum Insured Cruise Medical Expenses - Sum Insured Cruise Baggage - Sum Insured Cruise Baggage - Single Article Sum Insured Cruise Baggage - Valuables Sum Insured Cruise Missed Departure - Outbound Sum Insured Cruise Missed Departure - Inbound Sum Insured Missed Port Departure Sum Insured Cabin Confinement - Daily Sum Insured Cabin Confinement - Total Sum Insured Unused Excursion Sum Insured Cruise Interruption Sum Insured Cruise Interruption - Extent Page 3 of 18

4 Cruise Interruption - Remaining (%) Missed Port - Per Port Sum Insured Missed Port - Total Sum Insured Scheduled Port Change Sum Insured Scheduled Port Change Total Sum Insured Formal Cruise Attire - Basis Formal Cruise Attire - Total Sum Insured Formal Cruise Attire - Single Article Limit Cruise Missed Departure - Excess Cabin Confinement - Excess Unused Excursion - Excess Cruise Interruption - Excess Missed Port - Excess Scheduled Port Change - Excess Formal Cruise Attire - Excess Cruise Policy Reference Cruise Cover Type Minimum Cruise Duration Maximum Cruise Duration Maximum Cruise Age Cruise Cancellation - Sum Insured Cruise Medical Expenses - Sum Insured Cruise Baggage - Sum Insured Cruise Baggage - Single Article Sum Insured Cruise Baggage - Valuables Sum Insured Cruise Missed Departure - Outbound Sum Insured Cruise Missed Departure - Inbound Sum Insured Missed Port Departure Sum Insured Cabin Confinement - Daily Sum Insured Cabin Confinement - Total Sum Insured Unused Excursion Sum Insured Cruise Interruption Sum Insured Page 4 of 18

5 Cruise Interruption - Extent Cruise Interruption - Remaining (%) Missed Port - Per Port Sum Insured Missed Port - Total Sum Insured Scheduled Port Change Sum Insured Scheduled Port Change Total Sum Insured Formal Cruise Attire - Basis Formal Cruise Attire - Total Sum Insured Formal Cruise Attire - Single Article Limit Cruise Missed Departure - Excess Cabin Confinement - Excess Unused Excursion - Excess Cruise Interruption - Excess Missed Port - Excess Scheduled Port Change - Excess Formal Cruise Attire - Excess Cruise Policy Reference 3 Column Deletions The following columns were removed from Matrix between 3 rd May 2016 and 1 st August Wealth Management As the result of an audit, these columns are now considered no longer relevant or the information is contained elsewhere: Individual Stakeholder UFPLS Phased Retirement Options Capital Protected Company Failure Income Protected Company Failure Variable Income Income Includes Charges Page 5 of 18

6 Transfer Transfer Transfer Transfer Transfer Transfer Transfer Transfer Transfer Drawdown Online Functionality Capped Drawdown Asset Types Flexi Access Drawdown Asset Types Flexi Access Drawdown Phased UFPLS Drawdown Asset Types UFPLS Phased Online Income Withdrawal Types Targeted Phased Income Allowed Dependent Definition Retirement Options Capital Protected Company Failure Income Protected Company Failure Variable Income Income Includes Charges Drawdown Online Functionality Capped Drawdown Asset Types Flexi Access Drawdown Asset Types UFPLS Drawdown Asset Types Income Drawdown Retirement Options Capital Protected Company Failure Income Protected Company Failure Variable Income Income Includes Charges Drawdown Online Functionality Capped Drawdown Asset Types Flexi Access Drawdown Asset Types Flexi Access Drawdown Phased UFPLS Drawdown Asset Types UFPLS Phased Online Income Withdrawal Types Number of Online Income Withdrawal Types Page 6 of 18

7 Withdrawal Frequency Options Monthly Withdrawals Available Quarterly Withdrawals Available Half-Yearly Withdrawals Available Yearly Withdrawals Available Targeted Phased Income Allowed Dependent Definition With trail commission having come to an end, the following columns are no longer required and will be removed: Distribution Bond Distribution Bond Friendly Society Friendly Society Group AVC Scheme Group AVC Scheme Individual Stakeholder Individual Stakeholder Invested Annuity Invested Annuity Invested Annuity Invested Annuity Offshore With Profits Bond Offshore With Profits Bond Pension Pension Pension Annuity Pension Annuity Transfer Commission Options Commission Sacrifice Alternative Commission Options Page 7 of 18

8 Transfer S32 Buy-Out Bond S32 Buy-Out Bond Temporary and Purchased Life Annuity Temporary and Purchased Life Annuity Temporary and Purchased Life Annuity Trustee Investment Trustee Investment Unit Linked Bond Unit Linked Bond Commission Options Following an audit, the following columns are no longer considered relevant: Invested Annuity Rate (%) 1999 Invested Annuity Rate (%) 2000 Invested Annuity Rate (%) 2001 Invested Annuity Rate (%) 2002 Invested Annuity Rate (%) 2003 Invested Annuity Rate (%) 2004 Pension Annuity Fixed Term Annuity Platform FTSE All Share or AIM Listed Temporary and Purchased Life Annuity Other Escalation Temporary and Purchased Life Annuity RT Applicable Page 8 of 18

9 3.2 Column Replacements The following columns replacements were made in Matrix between 2 nd August 2016 and 7 th November Wealth Management The following columns have been replaced to improve clarity and functionality: Current New Flexi Access Drawdown Ad Hoc Withdrawals (payroll) Flexi Acce Drawdown Ad Hoc Withdrawals (immediate) Flexi Access Drawdown Income Payment Frequency Flexi Access Drawdown Full Erosion Allowed Flexi Access Drawdown Survivor Flexi Access Drawdown Nominee Flexi Access Drawdown Critical Yields Quoted Flexi Access Drawdown Critical Yields Quoted UFPLS Regular Payroll UFPLS Immediate UFPLS Full Erosion Allowed Phased Target Income Frequency Dependant Drawdown Spouse/Civil Partner Drawdown Flexi Access Drawdown Income Payment Frequency Ad Hoc Regular Payroll Withdrawal Ad Hoc Immediate Withdrawal Automated Encashment Frequency Options Automated Targeted Benefit Payment Full Erosion Successor Benefit Types Nominee Benefit Types Flexi Access Drawdown Critical Yield A Quoted Flexi Access Drawdown Critical Yield B Quoted Ad Hoc Regular Payroll Withdrawal Ad Hoc Immediate Withdrawal Automated Targeted Benefit Payment Full Erosion Automated Encashment Frequency Options Dependant Benefit Types Dependant Benefit Types Automated Encashment Frequency Options Page 9 of 18

10 Current New FAD Payment Frequency Options Flexi Access Drawdown Ad Hoc Withdrawals (payroll) Flexi Acce Drawdown Ad Hoc Withdrawals (immediate) Flexi Access Drawdown Full Erosion Allowed Number of Automated Encashment Frequency Options Ad Hoc Regular Payroll Withdrawal Ad Hoc Immediate Withdrawal Automated Targeted Benefit Payment Full Erosion Flexi Access Drawdown Survivor Successor Benefit Types Flexi Access Drawdown Nominee Nominee Benefit Types Flexi Access Drawdown Critical Yields Quoted Flexi Access Drawdown Critical Yields Quoted Flexi Access Drawdown Critical Yield A Quoted Flexi Access Drawdown Critical Yield B Quoted UFPLS Regular Payroll Ad Hoc Regular Payroll Withdrawal UFPLS Immediate Ad Hoc Immediate Withdrawal UFPLS Full Erosion Allowed Phased Target Income Frequency Automated Targeted Benefit Payment Full Erosion Automated Encashment Frequency Options Dependant Drawdown Dependant Benefit Types Spouse/Civil Partner Drawdown Dependant Benefit Types In order to improve filtering, the following column will be replaced with a yes/no column that identifies whether a transaction charge is payable: Current New Investment NISA Transaction Charge (%) Transaction Charge Applies To improve consistency across tables, the following column will be replaced with a new yes/no column: Current New Large Fund Discount Large Fund Discount Available Page 10 of 18

11 4 Column Renames The following columns were renamed in Matrix between 2 nd August 2016 and 7 th November Wealth Management The following columns will be renamed to make it clear that they refer to capped drawdown transfers in and not setting up new capped drawdown, which is no longer available: Current New Group Defined Contribution Group Defined Contribution Group Defined Contribution Group Defined Contribution Individual Stakeholder Individual Stakeholder Individual Stakeholder Individual Stakeholder Transfer Transfer Minimum Capped Drawdown Maximum Capped Drawdown Time Cost (%) Minimum Capped Drawdown Maximum Capped Drawdown Time Cost (%) Minimum ( ) Maximum ( ) Time Cost (%) Minimum Capped Drawdown Maximum Capped Drawdown Minimum Maximum Capped Drawdown Transfer In Time Cost (%) Minimum Maximum Capped Drawdown Transfer In Time Cost (%) Minimum Maximum Capped Drawdown Transfer In Time Cost (%) Minimum Maximum Page 11 of 18

12 Current New Transfer Transfer S32 Buy-Out Bond S32 Buy-Out Bond S32 Buy-Out Bond S32 Buy-Out Bond Small Self Administered Small Self Administered Small Self Administered Small Self Administered Trustee Investment Trustee Investment Trustee Investment Trustee Investment Time Cost (%) Minimum Capped Drawdown Maximum Capped Drawdown Time Cost (%) Minimum ( ) Maximum ( ) Time Cost (%) Minimum Capped Drawdown Maximum Capped Drawdown Time Cost (%) Minimum Capped Drawdown Maximum Capped Drawdown Time Cost Minimum Capped Drawdown Capped Drawdown Transfer In Time Cost (%) Minimum Maximum Capped Drawdown Transfer In Time Cost (%) Minimum Maximum Capped Drawdown Transfer In Time Cost (%) Minimum Maximum Capped Drawdown Transfer In Time Cost (%) Minimum Maximum Capped Drawdown Transfer In Time Cost (%) Page 12 of 18

13 In light of the term 'successor' becoming more widely used in the industry, the following columns will be renamed accordingly: Current New Group Defined Contribution Transfers In Drawdown Survivor Transfer In Drawdown Successor Group Defined Contribution Transfers Out Drawdown Survivor Transfer Out Drawdown Successor Transfers In Drawdown Survivor Transfer In Drawdown Successor Transfers Out Drawdown Survivor Transfer Out Drawdown Successor Transfers In Drawdown Survivor Transfer In Drawdown Successor Transfers Out Drawdown Survivor Transfer Out Drawdown Successor 4.2 General Insurance To improve clarity, the following columns will be renamed to use more industry-standard terminology: Current New Private Car - Comprehensive Policy 2nd Car Discount Mirrored No Claims Discount Private Car - TPFT Policy 2nd Car Discount Mirrored No Claims Discount 4.3 Banking In light of BACS taking over the Switch Service from the Payments Council, the following column will be renamed accordingly. Current New Current Cheque Account Payments Council Switch Service BACS Switch Service Page 13 of 18

14 5 Column Data Type Changes The following column data type changes were made in Matrix between 2 nd August 2016 and 7 th November Life and Protection To improve consistency across tables, the following columns' data types will be changed from Number to Integer. There will be no changes to the cell values in the table. Critical Illness Term Critical Illness Term Critical Illness Term Critical Illness Term Critical Illness Term Critical Illness Term Critical Illness Term Family Income Benefit Family Income Benefit CIC Buy-Back Maximum Age Child Maximum Age TPD Own Maximum Age TPD Any Maximum Age TPD Any Suited Maximum Age TPD ADLs Minimum Age TPD ADLs Maximum Age Child Maximum Age TPD Own Maximum Age TPD Any Maximum Age TPD Any Suited Maximum Age TPD ADLs Minimum Age TPD ADLs Maximum Age TPD ADWs Minimum Age TPD ADWs Maximum Age Life Buy-Back Maximum Age CIC Buy-Back Maximum Age Life Buy-Back Maximum Age CI Buy-Back Maximum Age Page 14 of 18

15 To improve consistency across tables, the following columns' data types will be changed from Number to Text. There will be no impact on cell data. Family Income Benefit Discount on Sum Assured Over X To improve consistency across tables, the following columns' data types will be changed from Text to Integer. There will be no impact on cell data in most cases. Where cell values will change, it will be, for example, to change 'X months' to 'X'. Critical Illness Term Critical Illness Term Critical Illness Term Critical Illness Term Critical Illness Term Critical Illness Term Critical Illness Term CIC Buy-Back Period TPD Own Deferred Period TPD Any Deferred Period TPD Any Suited Deferred Period TPD ADLs Deferred Period TPD ADWs Deferred Period TPD ADWs Minimum Age Life Buy-Back After x CIC Buy-Back Period TPD Own Deferred Period TPD Any Deferred Period TPD Any Suited Deferred Period TPD ADLs Deferred Period TPD ADWs Deferred Period Non-Smoker Time Limit Life Buy-Back After x CIC Buy-Back Period TPD Own Deferred Period TPD Own Maximum Age TPD Any Suited Deferred Period TPD ADLs Deferred Period Non-Smoker Time Limit Page 15 of 18

16 To improve consistency across tables, the following columns' data types will be changed from Text to Money. There will be no impact on cell data in most cases. Where cell values will change, it will be, for example, to change 'X months' to 'X'. Critical Illness Term Minimum Single Premium ( ) Family Income Benefit Minimum Single Premium ( ) To improve consistency across tables, the following columns' data types will be changed from Text to Number. There will be no impact on cell data in most cases. Where cell values will change, it will be, for example, to change 'X months' to 'X'. Minimum Term Maximum Sum Assured Without HIV Test ( ) Life Buy-Back Maximum Sum ( ) CIC Buy-Back Maximum Sum ( ) Maximum Sum Assured Without HIV Test ( ) To improve consistency across tables, the following columns' data types will be changed from Text to Yes/No. There will be no impact on cell data. Family Income Benefit Free Cover During Underwriting Creutzfeldt-Jakob Disease Liver Failure Open Heart Surgery Progressive Supranuclear Palsy Rheumatoid Arthritis TPD Own Occupation TPD Any Occupation TPD Any Suited Occupation TPD Linked to ADLs Cardiomyopathy Creutzfeldt-Jakob Disease Page 16 of 18

17 Family Income Benefit Family Income Benefit Family Income Benefit Family Income Benefit Family Income Benefit Family Income Benefit Family Income Benefit Family Income Benefit Family Income Benefit Liver Failure Open Heart Surgery Progressive Supranuclear Palsy Rheumatoid Arthritis TPD Own Occupation TPD Any Occupation TPD Any Suited Occupation TPD Linked to ADLs Free Cover During Underwriting Creutzfeldt-Jakob Disease Liver Failure Open Heart Surgery Progressive Supranuclear Palsy Rheumatoid Arthritis TPD Own Occupation TPD Any Occupation TPD Any Suited Occupation TPD Linked to ADLs Cardiomyopathy Cardiomyopathy 5.2 Life and Protection To improve consistency across tables, the following columns' data types will be changed from Yes/No to Text. There will be no impact on cell data. Critical Illness Term Family Income Benefit Family Income Benefit Grey Claims Panel Initial Moratorium Grey Claims Panel Initial Moratorium Grey Claims Panel Page 17 of 18

18 5.3 General Insurance With the introduction of travel insurance policies that can be used as either 'extended trip' or 'gap year' policies, the following column may contain a comma-separated list of these values instead of one or the other. Extended Trip Travel Insurance Policy Policy Type 5.4 Banking To accommodate an account that can optionally include winter sport travel insurance cover, 'optional' will be added as an allowable value to the following column: Current Cheque Account Incentive Travel Insurance Winter Sport 6 DNA Structure Changes The following DNA structure changes were made in Matrix between 2 nd August 2016 and 7 th November Wealth Management For consistency with other tables, the following DNA will be amended so that online applications that require a wet signature will receive DNA 1: New DNA Structure Transfer Online Applications Online Applications DNA 1 - Online applications are not permitted or require a wet signature DNA 5 - Online applications are permitted and do not require a wet signature DNA 1 - Online applications are not permitted or require a wet signature DNA 5 - Online applications are permitted and do not require a wet signature Page 18 of 18