Closing a submission

You have the option to close a submission by selecting Withdraw Transaction, Decline, or Not Taken under Close Options in the submission wizard. Having separate closing options for a submission that was not bound allows you to track information such as how many were not bound or why they were not bound.

Withdraw Transaction – A submission can be withdrawn for any reason, such as mistakes were made on the policy. You can only withdraw a submission in Draft or Quoted status. The withdrawn submission, and all its versions are no longer editable.

Decline – An underwriter may decide to decline a submission, and if so, must provide a reason by entering a Reason Code. A submission may be declined for reasons including loss history, payment history, or requested coverages and/or limits not available. The declined submission is no longer editable.

Not Taken – Select this option when the applicant decides not to take the offered policy. You must enter a reason. You can also enter text to create a Not Taken letter. You can select this option from both the submission wizard and the Submission Manager. Generate the Not Taken letter from the Submission Manager.