InsPolicyService:createMultiRootPolicyVersion

Class: InsPolicyService

Method: createMultiRootPolicyVersion

How It Works

The service:

1. Uses the quoteId and effectiveDate options to endorse a multi-root policy.

2. Generates child policies for each root product.

3. Aggregates premiums, taxes, and fees from the child policies into the parent policy.

4. Shortens and prorates the previous policy version based on dates for both parent and child policies.

5. When createTransaction set to true, the service:

   1. Creates transactions for parent and child policies.

   2. Calculates the transaction amount for the child policies as the difference between the current term amount and the previous term amount for the root product.

   3. Calculates the transaction amount for the parent policy as the sum of the values from each child policy.

   4. Specifies the transaction name and type in the transactionType option. If no value is specified, it defaults to Changed/Endorsed.

Additional Fields

• Users can override the policy field values by passing additionalFields as an option.

• Additional fields are supported for both parent and child policies at the root-policy level.

• The additionalFields option updates fields only at the Insurance Policy object level.

• For multi-root policy endorsements, these changes affect only the new policy version, leaving the previous version unchanged.

• The child policy uses the product code as an identifier for the product in the additionalFields JSON structure.

• The parent multi-root policy uses the MULTI_ROOT_PARENT_POLICY as an identifier in the additionalFields JSON structure.

Remote Options

Input JSON

This service doesn't take an input JSON.

Here’s a sample of the additionalFields JSON.

"additionalFields": {
      "MULTI_ROOT_PARENT_POLICY": {
        "name": "parent policy",
        "term": "Annual"
      },
      "AUTOROOT": {
        "name": "test",
        "year": "2024"
      },
      "COMMERCIAL": {
        "name": "Commercial",
        "type": "Comprehensive"
      }
    } 

Output

Output JSON

Here's the sample output JSON.

{
 "jobId": "7073t0000BNGivxAQD"
}