Issuance

Binding a policy refers to making the policy a legally binding contract between the insurer and the insurer. Issuing a policy refers to printing the paperwork related to the policy. Policies are often bound and issued at the same time. But in some situations, an insurer might want to bind a policy without issuing it. This can happen when the insurer wants to put the policy in force now, but the insurer is still gathering supplemental information and therefore does not yet want to print the policy documents.

A submission can be bound but not issued through the system APIs using the /bind-only endpoint. When the insurer is ready to issue the policy, they can do so using the /issue endpoint. For more information on the business functionality of issuing a bound policy, see Application Guide.

Issue the policy

  1. Initiate the issuance policy transaction.

    Submit a business action POST to the /policy/v1/policies/{policyId}/issue endpoint, containing an empty request payload. 

    {
    "data": {
        "attributes": {}
    }
}

    The response payload contains the associated job. Use the job ID in subsequent calls.

  2. Modify the job (optional).

    The job is in Draft state, and can be modified. For example, the policy could require a new coverable. Details of modifying a job depend on the LOB and product.

  3. Generate a policy quote.

    Submit a business action POST to the /job/v1/jobs/{jobId}/quote endpoint.

  4. Complete the issuance policy transaction.

    To complete the issuance policy transaction, the quoted job can be bound and issued. If the transaction is to be discarded, such as for erroneous data, then it can be withdrawn.

    The following table illustrates the two ways that a quoted issuance job can be completed:

    Transaction outcome Condition Job status Endpoint
    Accepted The account holder and insurer agree to the quote, and all necessary paperwork has been received by the insurer. The policy is bound and issued. Bound /job/v1/jobs/{jobId}/bind-and-issue
    Withdrawn The quote contains erroneous data. Withdrawn /job/v1/jobs/{jobId}/withdrawn