Prima L&H, the borrower's insurance cloud platform, incorporates the provisions of the Lemoine Act

Prima L&H, the borrower’s insurance cloud platform, incorporates the provisions of the Lemoine Act

Prima Solutions, a software publisher for insurance and reinsurance professionals, announces that its Prima L&H cloud platform has complied with the obligations of the Lemoine Act of February 28, 2022, effective February 1Verse June of the same year. Despite very tight deadlines, the new version of Prima L & HAlready in production with insurance companies using the solution.

Law No. 2022-270 of February 28, 2022 known as the “Lemoine Law” to more equitably, simply and transparently access the borrower insurance market, includes three major changes: the introduction of free termination at any time, the right to be forgotten which now includes hepatitis C as well as Oncological diseases and is reduced from ten to five years from the end of the treatment protocol, in addition to the removal of the health questionnaire when subscribing to insurance for loans of less than €200,000 maturing before the borrower reaches 60 years.
The deadlines, as is often the case in personal insurance, are very short since the date for submission of the application for new borrower contracts is set on June 1, 2022. Existing contracts benefit from another 3 months to align with the new system.
The project dates back several years and has been rejected several times. The final script was approved in February which means we only have 3 months to adapt Prima L&H. In this context, our proactive regulatory oversight unit and the fact that we make several issues available to our clients annually are an asset.”says Frederic Dutrell, director of product strategy at Prima Solutions.

Prima L&H is the cloud platform for health insurance and pensions and the borrower Developed by Prima Solutions. The program is deployed in many of the major players in the French insurance market but also in smaller structures, at brokers and delegates. “Lemoine’s Law Directly Affects Our Customers”Frederic Dutrell continues. “The changes are targeted but significant. It is about the sales and management tools that the borrower’s insurance cost accrued over 8 years must be shown systematically, whether in simulations, quotes, advertisements or consolidated sheets, for example. Messages are also affected by the commitment of information about The possibility of termination, its terms and various notice deadlines.Not to mention the removal of medical surveys as well as additional premiums and exclusions or limitations under the terms of the law. As a publisher, one of our roles is to ensure regulatory compliance. Our agile organization and development plant allow us to quickly and frequently incorporate new requirements such as those of the Lemoine Code. Some changes were also made without any line of code, just by configuration, like desktop publishing for example or updating certain rates. The flexibility of our training workshop also made it possible to develop a workflow, with or without a medical questionnaire. »

The new edition of Prima L&H has been in production since 1Verse June. The challenge was met on time thanks to the teamwork of the Prima solution teams and software users.

“The borrower’s insurance market is very profitable and we are expecting a frenzy of professionals who will take advantage of this openness to competition to launch 100% digital offers with simplified subscription paths and fast membership deadlines, all to meet the expectations of policyholders who are looking for the best terms for their loans”Hughes Delaney, president of Prima Solutions, explains. In this context, the release of the new edition of Prima L&H on the first day of the Lemoine Act is a strong sign of Prima Solutions’ ability to support the insurance market in its developments. Moreover, this law is just a stage and it is already planned to assess the effects of canceling the health survey within two years. Other organizational changes will come and we will, as always, be able to integrate them in due course to facilitate the work of our users. »

source : https://www.prima-solutions.com/actualites/prima-lh-la-plateforme-cloud-pour-lassurance-borrower-integre-les-dispositions-de-la-loi-lemoine/

Source: https://www.globenewswire.com/news-release/2022/06…

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