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InsPolicyService:createMultiRootPolicyVersion
Use this service to endorse a multi-root policy from an endorsed quote.
The service uses the quoteId and effectiveDate options and
triggers an asynchronous batch job to issue a new policy version and update the previous
policy version.
How It Works
The service:
-
Uses the
quoteIdandeffectiveDateoptions to endorse a multi-root policy. -
Generates child policies for each root product.
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Aggregates premiums, taxes, and fees from the child policies into the parent policy.
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Shortens and prorates the previous policy version based on dates for both parent and child policies.
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When
createTransactionset to true, the service:-
Creates transactions for parent and child policies.
-
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.
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Calculates the transaction amount for the parent policy as the sum of the values from each child policy.
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Specifies the transaction name and type in the
transactionTypeoption. If no value is specified, it defaults to Changed/Endorsed.
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Additional Fields
-
Users can override the policy field values by passing
additionalFieldsas an option. -
Additional fields are supported for both parent and child policies at the root-policy level.
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The
additionalFieldsoption 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
additionalFieldsJSON structure. -
The parent multi-root policy uses the MULTI_ROOT_PARENT_POLICY as an identifier in the
additionalFieldsJSON structure.
Remote Options
Option |
Description |
|---|---|
|
Required The ID of the endorsed quote from which the policy is to be created. |
|
Required The effective date of the new policy version. |
|
Optional A Boolean flag to indicate if parent and child transactions must be created for the policy. Default is False. |
|
Optional Transaction name and type, applicable only when
Default is Changed/Endorsed. |
|
Optional A JSON structure that maps policy product codes to policy fields and their respective values. |
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"
}
} 