Additional actions for bound policies


In some situations, an insurer may need to identify that a policy has an issue to resolve, even though there are no active jobs on the policy. For example, the rating for a personal auto policy may include a good driver discount that does not take effect until a driving safety course has been completed. The course is not completed when the policy is bound. Later, the course is completed and the discount must then be applied.

When situations like this occur, these outstanding issues can be managed through contingencies. A contingency is an object that identifies an issue affecting a job or policy that must be resolved by a particular date. Depending on the outcome, the insurer may opt to change or cancel the policy. Contingencies can have associated activities, documents, and notes.

Cloud API provides a set of endpoints for managing contingencies. These endpoints exist in both the Job API and the Policy API. For more information, see Contingencies.

Referral reasons

While a policy is in force, an insurer may become aware of information that has implications for the policy's renewal. This information may require underwriter approval, but at the time the renewal has not yet been started. Because there is no active job, the information cannot be captured as an underwriting issue.

To address these situations, PolicyCenter provides referral reasons. Like underwriting issues, a referral reason is an object that tracks an issue that may require underwriter review. However, referral reasons are attached only to bound policies. The next time a job is created for the policy, the referral reason may trigger the creation of an underwriting issue.

Cloud API provides a set of endpoints for managing referral reasons. These endpoints exist in the Policy API. For more information, see Referral reasons.