Renewal

The renewal process extends the policy for another term beyond the current expiration date. It creates a new policy period for an existing policy. The renewal policy transaction can be applied to a bound policy. For a general overview of how to conduct policy transactions using the system APIs, see Policy transactions. For details on the business functionality of renewals and other policy transactions in PolicyCenter, see Application Guide.

Renew the policy

  1. Initiate a renewal policy transaction.

    Submit a POST request to the /policy/v1/policies/{policyId}/renew 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 renewed policy could include a new coverable. Details of modifying a job depend on the LOB and product.

    For more information on how to modify a policy within the context of a job, see Overview of modifying jobs.

  3. Generate a quote.

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

  4. Complete the policy transaction.

    The following table illustrates the various ways that a quoted renewal job can be completed:

    Transaction outcome Condition Endpoint
    Accepted renewal Issues the renewal immediately /job/v1/jobs/{jobId}/bind-and-issue
    Pending renewal Puts policy period in renewing status and starts the PendingRenwalWF workflow /job/v1/jobs/{jobId}/pending-renew
    Pending non-renewal Puts policy period in nonrenewing status and starts the PendingNonRenwalWF workflow /job/v1/jobs/{jobId}/pending-non-renew
    Pending not taken Puts policy period in nottaking status and starts the PendingNotTakenWF workflow /job/v1/jobs/{jobId}/pending-not-take
    Withdrawn Withdraws the job /job/v1/jobs/{jobId}/withdrawn

    Submit a business action POST to the relevant endpoint.