Issuance policy transaction

A submission may be bound, but its policy documents may not yet be issued because the insurer may need to collect or verify additional information. The mechanism that PolicyCenter uses to support this final step is the issuance policy transaction.

Note: In PolicyCenter, the user interface uses the term policy transaction to refer to submissions, policy changes, and other policy transactions. Policy transactions are implemented as jobs in the data model, and referred to as jobs in PCF files, Gosu classes, and other configuration files. Therefore, the configuration documentation refers to policy transactions as jobs.

There are times that you may choose to bind a submission without issuing it. Perhaps you need to collect additional information that binding does not require but issuing the final policy contract requires, such as:

  • Verification of eligibility for discounts in an auto policy.
  • Name and address of the additional interest because the insured does not own the vehicle (but the bank does).
  • Receipt of VIN (Vehicle Identification Numbers) for vehicles on a business auto policy.

The point is, that while the insurer has agreed to provide coverage, there are some details that must be confirmed before generating the paperwork.

See also

How issuance works

To start an issuance policy transaction, the policy must already be bound, but not issued. In addition, the policy must be no other open policy transactions. The issuance wizard behaves in much the same way as the submission wizard. You can edit in the Policy Info screen, review the policy, requote, and change payment options. To issue a policy, you must have the bindissuance system permission. An insurer can use this permission to specify the set of users who can issue policies. This set may differ from the set of users who can create policies.

Validation rules run at the Ready for Issue validation level. If validation fails with errors, then the process stops and remains in the previous Quoted status. If validation fails with warnings the first time, you can override the warnings by clicking Issue Submission again. Before binding the policy, PolicyCenter first executes evaluation and then sends the Issue Submission message.

After a policy has been successfully issued, PolicyCenter sends billing instructions to the billing system through the IBillingSystemPlugin.