Rewrite and Rewrite New Account

The rewrite and rewrite new account policy transactions can be applied by an underwriter to a bound policy that is in force. The rewrite policy transaction can be used to change the effective date of a policy or the producer of record. The rewrite new account policy transaction can be used to clone an existing policy and assign it to a new account. These actions cannot be executed in a policy change transaction. For a general overview of how to conduct policy transactions using the system APIs, see Policy transactions. For details on rewrites and other policy transactions in PolicyCenter, see Application Guide.

There are three types of policy transaction rewrites:

  • Full term rewrite: Overwrites the entire term of an existing policy
  • New term rewrite: Creates a new term for the policy
  • Mid-term rewrite: Rewrites the remainder of an existing policy term

The full term and new term policy rewrites are called flat rewrites.

With the system APIs, a policy rewrite transaction is preceded by a cancellation policy transaction. When canceling a policy in preparation for a rewrite, the value provided for the cancellationReasonCode property must be either flatrewrite or midtermrewrite, as described above. When rewriting the policy, the value provided for the rewriteType property must be either rewriteFullTerm, rewriteNewTerm, or rewriteRemainderOfTerm, as described above.

Rewrite period cancellationReasonCode property value rewriteType property value
Full term flatrewrite rewriteFullTerm
New term flatrewrite rewriteNewTerm
Mid-term midtermrewrite rewriteRemainderOfTerm

Rewrite transaction

The rewrite policy transaction can be executed on a canceled policy.

  1. Initiate the rewrite policy transaction.
    • Submit a POST request to the /policy/v1/policies/{policyId}/rewrite endpoint
    • The request payload must contain a value for the rewriteType property. Acceptable values are rewriteFullTerm, rewriteNewTerm, and rewriteRemainderOfTerm.
      {
        "data": {
          "attributes": {
            "rewriteType": {
              "code": "RewriteFullTerm"
            }
          }
        }
      }
    • The response payload contains the associated job, which is in Draft state. Use the job ID in subsequent calls.
  2. Revise the job as needed, to reflect changes to the policy. (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.

    Submit a business action POST to the /job/v1/jobs/{jobId}/bind-and-issue endpoint.

Rewrite new account transaction

  1. Initiate the rewrite new account policy transaction.

    Submit a POST request to the /policy/v1/policies/{policyId}/rewrite-account endpoint. The request payload must contain a valid account ID value for the account.id property.

    {
      "data": {
        "attributes": {
          "account": {
            "id": "pc:102"
          }
        }
      }
    }

    The response payload contains the associated job, which is in Draft state. Use the job ID in subsequent calls.

  2. Revise the job as needed, to reflect changes to the policy.
  3. Generate a quote.

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

  4. Complete the policy transaction.

    Submit a business action POST to the /job/v1/jobs/{jobId}/bind-and-issue endpoint.