Insurance Policy Bulk Renewal Implementor Journey

Bulk renewal supports both single-root and multi-root policies. For multi-root lifecycle policies, renewal is initiated only from the parent policy.

Supported bulk policy renewal use cases:

• Policy renewal without changes:
  • Renews single-root and multi-root policies as is with repricing and rules evaluation.
  • Initiates renewal from the parent policy for multi-root policies.
  • Creates new parent and child policy records.
  • Generates premiums and transactions at the child policy level and rolls them up to the parent policy.
  • Supports renewal processing for annual and custom policy terms.
• Policy renewal with changes:
  • Creates renewal quotes with repricing and rules evaluation.
  • Executes rules independently at each child policy level for multi-root policies.
  • Supports renewal processing for both single-root and multi-root policies.
  • Supports renewal processing for annual and custom policy terms.
• Renewal Quotes:
  • Creates renewal quotes as exact replicas of the parent policy.
  • Prices renewal quotes during quote creation.
  • Rolls up individual product-level premiums and taxes to provide quote-level premium and tax amounts.
• Policy modification during renewal:
  • Initiates policy modifications only from the parent policy for multi-root policies.
  • Adds, removes, or updates root products during renewal processing.

• Set Up Bulk Renewal
  Configure the flow and batch job definitions for the bulk renewal process.
• Schedule a Batch Job
  Use a schedule-triggered flow to schedule your bulk policy renewal jobs to run automatically at a specified time and frequency. Make sure that each job run uses a unique identifier for easier monitoring of the policy renewal process. Schedule a custom Apex action by using the same approach.
• Renew Policies with Changes
  Use an auto-launched flow to make changes to the policy before renewal.
• Monitor Progress of Policy Renewals
  Monitor the status of bulk policy or quote renewals and set up notifications by using entities, reports, and platform events.
• Cancel a Bulk Renewal Job
  Cancel bulk renewal jobs that are in progress to stop the enqueueing of additional policies. Policies that are already enqueued by the renewInsurancePolicies invocation action continue processing and can't be cancelled. When the job is completed, cancellation is no longer possible.
• Best Practices for Bulk Policy Renewals
  Learn best practices and avoid common issues to run bulk policy renewal jobs efficiently.
• Troubleshoot Policy Renewal Failures
  If some policy renewals fail because of errors, you can retry those policies by using a batch job or a custom action.