New periods and term confirmed flag

PolicyCenter can optionally dispatch renewals to the billing system without prior confirmation from the insured. To track whether the insured confirmed the new term, PolicyCenter tracks this information in period.PolicyTerm.Bound. Despite the name, that property does not correspond to the policy period being bound. Instead, the property indicates whether the insured confirmed the new term. If you use this feature, you may want to send this information to the billing system while creating new terms in the billing system.

If you use BillingCenter, the base configuration billing system plugin sends this information to the billing system in the billing instruction TermConfirmed property.

If this property changes in PolicyCenter again, PolicyCenter calls the billing system plugin method updatePolicyPeriodTermConfirmed. If you use BillingCenter, the base configuration plugin implementation updates this information in BillingCenter.

If the billing system needs to later change the setting in PolicyCenter, PolicyCenter publishes a web service that an external system can call. External systems can call the confirmTerm method in the PolicyRenewalAPI web service.

See also

• Billing implications of renewals or rewrites
• Policy renewal web services