What is it?
The ‘No Claims Bonus Mismatch' tool is used to display any discrepancies between the declared NCB, and the NCB found by LexisNexis
Why would No Claims Bonus be incorrect?
No claims bonus provide a massive discount for policies, 9 years almost always halves the premium! As a result, this becomes an easily exploitable way for customers to pay less for their insurance.
How do I use it?
Follow the usual process and head to ‘Validation Tools’ and look for the ‘No Claims Bonus Mismatch’ tool, as seen below:
Once here, click the down arrow:
Here you will see all information relating to NCB on your quote.
The key here is to check the ‘NCB on Record’ – as seen below:
Below this you will see an indication on if there is a mismatch between the declared NCB and the found NCB. In this instance, there is no mismatch, indicating that the NCB declared is correct.
If there is a mismatch, your result will look like this:
To then edit the NCB, simply fill out the fields below:
One commonly overlooked detail is the mirrored NCB. If you have a policyholder that declares the same amount for NCB and Mirrored NCB, then this should raise a red flag for you. NCB cannot be used on two policies at once, so make sure to quiz your customer here to determine if there is two separate no claims bonuses.
Tips and tricks:
No claims bonuses aren’t the be all and end all, if your customer declared NCB, but they turned out to be in use on another policy, find out if a CV9 is applicable. If your customer has not had any fault claims in the past 9 years, you may be able to insure them with relevant driving experience.
If your customer is unsure on if their no claims bonus is free to use, it is always best to leave it off the quote. If they are then able to provide proof at a later date, this can be sent in for an MTA.
All insurers will either check no claims bonus on their end, or require the policyholder to submit proof. It is always in your best interest to be accurate here, as this is a common reason for cancellations.