1. Manual insurances

Manual insurance is a type of insurance that is fully managed by the users, including both the insurance details (such as Sum Insured, Premium, etc.) and the process of invoicing owners.

In order to manually add new insurance info for horses, click on "Insure Horse" from these :

1. Add anywhere button
   
2. Insurance module
   
3. Horse profile
   

Then choose "Manual input".

In the Horse Insurance pop-up, you can provide insurance info for the horse with some pre-defined fields.  You can also add attachments and notes for the insurance.

Once saved, the insurance will be shown in the Horse Profile and in the Policy Listing with the Type "Manual Input".

For manual-input insurance, you can edit or delete the record at any time.

The status of a manual insurance policy is determined based on the defined coverage period:

1. Draft – if the Start Date is in the future
   
2. Active – if today falls within the cover period
   
3. Expired – if the End Date has passed

2. Onboarding process with Furlong Insurance

If you wish to purchase insurance from Furlong but are not yet a Furlong client, you will encounter the following error:

Please contact Mitch Roach from Furlong Equine to enable Furlong Insurance in your Prism account:

Mitch Roach

P: 0447061388

E: mitch@furlongequine.com.au

3. Submit an insurance policy request to Furlong

To submit an insurance policy request to Furlong, click on "Insure Horse" from:

1. Add anywhere button
   
2. Insurance module
   
3. Horse profile
   

Then, go with the “Furlong Equine Insurance” option.

Submitting an insurance policy request to Furlong contains 3 steps:

Step 1: Premium Estimation

You will need to provide some information about the horse and request an insurance premium estimate.

1. The Start Date is automatically set to the date the request is created.  You can change this if needed.
   
2. The Expiry Date is set by default to one year after the Start Date.
   
3. You will need to fill in key details about the horse.
   

After completing this step, proceed to the next screen to view the estimated premium payable.

In Horse Profile and Insurance tab > Policy Listing, click on the newly created insurance policy and view the quote info below.

Step 2: Collect owner registration

In this step, you can gather your owners' preferences regarding the insurance purchase for the horse.

Before sending the survey to your owners, you have the option to add an additional percentage to the estimated premium. This additional amount will be distributed among the owners who choose to opt in, based on their ownership share in the horse.

To send Insurance Survey to owners:

1. Click on "Review Ownership"

2. Select the owners to send Insurance Survey to.

3. Click on "Send Confirmation Request to Owners"

1. You can review the message content and set an expiry date for the registration link. By default, the link will expire 7 days after the send date.  You can change this depending on your requirements or preference.  

4. Clicking the Send button will trigger emails to the selected owners, showing their current ownership share and the corresponding amount they would need to pay if they choose to opt in. The system will then collect their registration responses.

5. The survey status and responses will be recorded in Prism

6. Users can manually input/update responses from the owners

Step 3: Submit declaration

1. Schedule: You can review horse’s information and/or attach documents if needed (Vet Cert or Foals Vet Certs)
   

1. DOH: You will need to answer some questions about the horse and provide details of any available issues. By default, the answers are pre-filled but can be reviewed and updated as needed.
   

1. Claims History: You can provide the insurance history of the horse, if any.
   

1. Disclosures: You can update the answers, if needed. 
   

 You can only edit/delete insurance policy when its Status is Draft. Once users submitted insurance policy to Furlong, they can no longer edit it.

4. View insurance quote details

4.1 View quote list

You can view the list of insurances in two places:

1. In the Insurance section within the Horse Profile
   

1. In the Insurance module, which contains three tabs:
   
1. Horse Listing: shows active insurances
   

1. Policy Listing: shows all insurances in the portal
   

1. Uninsured Horses: lists horses that are currently not insured in the portal
   

Furlong insurances in the Prism system follow a parent-child structure, where the policy is the parent and each quote is a child. A single policy can have multiple quotes, with each quote representing an update/endorsement to the insurance coverage over time. You can click on the policy row to expand and view the list of quotes underneath.

4.2 View the first quote of a Furlong Insurance

4.3 View details of Furlong endorsement quote

In some cases, after a Furlong insurance policy is created, certain adjustments involving changes to owner registrations or premium amounts, known as endorsements, may be agreed upon between the users and Furlong. For example:

1. Changes in % insured due to:
   
1. New owners want to opt-in
   
2. Involved owners want to opt-out
   
3. Some owners want to opt-in and some want to opt-out
   
4. Changes in ownership shares
   
2. Changes in premium due to:
   
1. Changes in horse value, etc.
   
3. Insurance cancellation is a special case of endorsement
   
1. If the cancellation occurs before the insurance policy becomes active, Furlong may refund the full premium amount to the trainer or syndicator.
   
2. If the cancellation takes place during the coverage period, Furlong may only refund a partial premium amount, depending on the time elapsed.
   

Prism checks with Furlong every 30 minutes to retrieve and update these endorsements accordingly. These endorsements often come with changes to the payable amount, and each endorsement is represented in Prism as a separate quote under the insurance policy and the insurance policy type will change from New to Endorsement.

At the same time, Prism will send a notification to the trainer’s or syndicator’s portal.

You can click the "View" icon next to each endorsement quote to view details.

If the endorsement quote is not yet charged between owners, you can view the quote information returned by Furlong, including: Horse Value, Insured %, Sum Insured, Payable amount, and also the previous responses from the owners.

1. You can click on the 'Review Registration & Invoice' button to review and make adjustments to the owners' responses, if needed.
   

1. After making changes in owners' responses, click "Confirm" to proceed.

If the endorsement quote charge is already split between owners, users can only view the quote info and latest responses from the owners as users can no longer adjust the responses

5. Invoice the owners for insurance premium

Once insurance is created, you can proceed with charging the premium based on their business’s internal process. Within Prism, trainers or syndicators are supported with the following options:

5.1 Manually create expenses with type = Insurance

If the you use Manual insurance instead of Furlong insurance or if you tick “Do not split the premium to owners” option in Step 2 of creating Furlong insurance, we do not support split premium between owners based on their ownership shares. However, we do support users to charge owners by creating expenses with type = Insurance.

5.2 Split premium of Furlong insurance between owners based on ownership shares

For Furlong insurance, the insurance status in Prism is automatically updated based on changes received from the Furlong system. Prism checks for updates from Furlong and applies any necessary changes every 20 minutes.

Once Furlong returns the insurance policy status as Active (Approved) and the quote status as Bound/Active, you can proceed with charging the premium based on owners' ownership shares after adjusting owners' survey responses or clicking on "Bill Owners" icon next to each quote.

1. You can choose if they want to generate expenses or invoices for the premium.

1. If the users choose to create expenses, the new charged-to-horse expenses with type = Insurance will be created.
   

1. You can find the expenses in Horse Profile > Expense or Finance tab > Transaction list
   

1. If the you choose to create invoices, the system will create single invoices for each owners who have to pay for their shares.
   

1. The newly created single invoices can be found in Finance tab > Dashboard > Statements
   

1. Either ways, system has already split premium to opt-in owners based on their ownership shares. However, the users can adjust the amount between all owners as long as the total amount is equal to the premium amount.
   

1. Please note that premium amount in this pop-up already include the additional percentage the users input in Step 2 of creating the Furlong insurance.
   

Note: If the amount charged to owner is a negative number, the system will create a credit for that owner instead of an expense.

The credit can also be found in Horse Profile > Expense and Finance tab > Transaction list.

This also applies to "Create invoice" option.

You can view the invoice status of each Furlong quote in "Invoice Status" column in the Horse Profile or Insurance module.

There are 4 invoice statuses:

1. N/A: Insurance invoices have not been created yet, or the insurance expenses are not included in any existing invoice.
   
2. Invoiced: Insurance invoices have been created or the insurance expenses have been included in existing invoices, but these invoices have not been paid yet.
   
3. Partially paid: Invoices containing insurance expenses have been partially paid.
   
4. Paid: Invoices containing insurance expenses have been fully paid.
   

6. Insurances on Prism App

On the Prism mobile app, users can also view insurance information within the Horse Profile. However, for Furlong insurance, users will only be able to view the insurance policy itself—individual quotes under that policy will not be visible on the mobile app.