Enter premium report data

About this task

The insured completes the premium report and returns it to the insurer. The user enters the report data into PolicyCenter.

To enter premium report data:

Procedure

  1. Navigate to a policy with premium reports.
  2. Click Audit Schedule in the left sidebar.
    If the batch process has started a premium report, Premium Report is a link in the Type column.
  3. Click a Premium Report link.
  4. In the Summary screen, enter the Received Date and Payment Received. Then click Next.
  5. In the Details screen, enter the payroll amounts reported by the customer.
  6. Click Calculate Premiums.
    The Premiums screen displays the calculated cost along with the payment received from the insured.

    The Reporting Trend Analysis displays the following fields. The Reporting Trend Analysis also appears on the policy Summary screen.

    Field

    Description

    Total Estimated Premium

    The pro rata premium based on the number of days reported to date and the Total Estimated Premium for the policy. (Until final audit, there is no total premium on a reporting policy. Until final audit, it is only an estimated premium.)

    Total Reported Premium

    The total premium from completed premium reports.

    Ratio

    The ratio between the total estimated premium and total reported premium.

    Days Reported

    The number of days for which the total reported premium applies.

    For more information about reporting trend analysis, see Premium report trend analysis.