Insurance Spring '22 Release Notes

These release notes provide details about the changes in the Spring '22 release of Insurance.

• Configure Financial Workflows with Claim Payment Actions
  A flexible framework supports standard and custom financial workflows based on the status of claim payments. Use the framework to provide a full slate of financial actions to claims adjusters, from initial payments, through approval processes and payment issuance, to payment cancellations.
• Customize the Payment Detail Form to Enhance Usability
  Claims adjusters can process losses more efficiently by using forms that show only the elements that they need in an intuitive layout.
• Enhance Claims Management and Policy Administration with Insurance Claims and Policy Analytics
  With the Insurance Claims and Policy Analytics app, get actionable insights that help you effectively manage claims and policies, ensure customer satisfaction, and grow your business. Analyze your team’s current and historical performance to better manage workloads and improve team performance. Track product performance based on key metrics for policies, quotes, and commissions. Gain insights into claims performance and financial performance to effectively manage expenses and reserves, and write policies that help boost your revenue.
• Simplify Expense Reserve Management
  Enter a single expense reserve amount for each claim coverage, instead of individual amounts for each payment detail. This top-down approach makes the reserve amount available to all expense payment details that are associated with a claim coverage.
• Track Policies with Rolling Limits and Deductibles
  Track policies that cap a benefit over rolling time periods. For example, set a limit of two cleanings every 12 months for dental coverage. You can use rolling 12-month limits and deductibles out of the box, and configure additional rolling time periods for any number of days or months. The amount that accumulates toward a limit or deductible on a current policy rolls over into the limit or deductible on a new policy version.
• Track Reserves and Payments in Multiple Currencies
  Claims adjusters can now specify currency denomination when they set reserves, enter new losses and expenses, and make payments. The system can then apply the appropriate exchange rates on payment dates.
• Contract Lifecycle Management For Vlocity Insurance Spring '22
  This overview describes the key features and enhancements for Contract Lifecycle Management for Vlocity Insurance in this release.
• New and Updated Services for Vlocity Insurance Spring '22
  We've added new services and updated existing services for this release.
• Explore Help Center Enhancements
  We reorganized the Vlocity Insurance section of the Help Center to help you find content faster and more easily.
• Data Model Updates for Vlocity Insurance Spring '22
  This section provides a list of new data model objects and enhanced data model objects for this release.
• Data Model Updates for Vlocity Insurance Industries Extension Spring '22
  This section provides a list of new data model objects and enhanced data model objects for this release.
• Vlocity Insurance Application Suite Spring '22 Release
  These release notes provide details about the changes in the Spring '22 release of Vlocity Insurance Application Suite.