Adjust Policy Component Prices in an Endorsement

Modify the price of policy components, such as coverages or surcharges, as part of an endorsement to automatically calculate the difference in cost.

Available in: Lightning Experience

Available in: Professional, Enterprise, and Unlimited Editions where Insurance Brokerage is enabled

From the actions menu of the policy, click Endorse.
Navigate to the Related tab and select the component you want to modify (for example, a Coverage or Surcharge record).
Click Edit, update the amount, and Save your changes.

Note Price changes must be chronological. However, the system supports out-of-sequence cancellations.
From the actions menu, click Issue Endorsed Policy.

Note The system compares this version to the previous one to calculate the delta (difference) for premiums, fees, and commissions.
From the actions menu of the policy record, click Send to Billing.

After you issue the endorsed policy, the system:

Creates an Insurance Policy Transaction to capture the overall price change.
Generates Transaction Details to break down the change across policy components.
Calculates the difference (delta) between the updated policy and the previous version.

The system applies the billing treatment from the issued policy version to the delta price change to ensure the new amounts are billed correctly.

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