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            Policy Lifecycle Processes

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            Policy Lifecycle Processes

            Insurance Brokers manually maintain their own data to mirror what's in the carrier system due to lack of integration between the carrier and the broker systems. This manual process can be cumbersome, especially when there's very little difference between an existing Insurance Policy in their system and the new one they are trying to create. The policy lifecycle processes help representatives manage policies efficiently with minimal data entry by providing actions to renew, endorse, repurpose, and cancel policy.

            Required Editions

            Available in: Lightning Experience
            Available in: Professional, Enterprise, and Unlimited Editions where Financial Service Cloud and Insurance Brokerage are enabled

            The InsBrokeragePolicyContext context definition is a standard context definition used to retrieve and manage policy data for Insurance Brokerage policy operations and services. This context definition is shipped out of the box and includes default fields for each action. You can update these fields to display or extend this definition according to your business requirements.

            Action Fields

            Renew

            Name, Name Insured, Writing Carrier Account, Status, Effective From Date, Billing Carrier Account, Effective To Date, Actual Renewal Date, Line Of Business, Line Of Coverage, Premium Frequency, Renewed Policy, Underwriting Entity

            Endorse

            Name, NameInsured, Writing Carrier Account, Status, Effective From Date, Billing Carrier Account, Effective To Date, Actual Renewal Date, Line Of Business, Line Of Coverage, Premium Frequency, Underwriting Entity

            Repurpose

            Name, NameInsured, Writing Carrier Account, Status, Effective From Date, Billing Carrier Account, Effective To Date, Actual Renewal Date, Line Of Business, Line Of Coverage, Premium Frequency, Underwriting Entity
             
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