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 details on rewrites and other policy transactions in PolicyCenter, see the 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.