Clients can automate the transfer of a return premium when a policy is rewritten. When a policy is rewritten, the return premium of the old policy will automatically transfer to the new policy. This automation eliminates the need for a user to manually transfer the return premium to the rewritten policy.
To enable automation:
- In BriteCore, select Settings.
- On the Settings screen, select Modules, and then select Policies.
- On the Policy Lifecycle screen, select Edit.
- On the Policy Lifecycle, select Cancellation.
- Under Options, select On Rewrite, Automatically Transfer Return Premium to the Newly Rewritten Policy, and then select Save.
Note: BriteCore recommends clients to use the transfer feature.