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.
- 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 arerewriteFullTerm
,rewriteNewTerm
, andrewriteRemainderOfTerm
.{ "data": { "attributes": { "rewriteType": { "code": "RewriteFullTerm" } } } }
- The response payload contains the associated job, which is in Draft state. Use the job ID in subsequent calls.
- Submit a POST request to the
- 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.)
- Generate a quote.
Submit a business action POST to the
/job/v1/jobs/{jobId}/quote
endpoint. - Complete the policy transaction.
Submit a business action POST to the
/job/v1/jobs/{jobId}/bind-and-issue
endpoint.
Rewrite new account transaction
- 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 theaccount.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.
- Revise the job as needed, to reflect changes to the policy.
- Generate a quote.
Submit a business action POST to the
/job/v1/jobs/{jobId}/quote
endpoint. - Complete the policy transaction.
Submit a business action POST to the
/job/v1/jobs/{jobId}/bind-and-issue
endpoint.