An endorsement is an amendment or change to a policy. Within BriteCore, endorsements are also referred to as revisions.
While typical commercial insurance contains general coverage, BriteCore allows the flexibility for clients to build almost any endorsement they would like to offer, from Coverage A to custom coverages like manuscript endorsements. Custom coverage, characterized by a unique risk(s), is also referred to as manuscript endorsements.
When processing an endorsement, BriteCore supports Out of Sequence and In Sequence Endorsements.
Out of Sequence
Endorsements occur at various times/dates
Ex: Adding coverage to a car that was purchased 3 days ago, or a Prior Term Endorsement, the coverage is still retroactive.
Endorsements occur sequentially in terms of date/time
On Canceled Policies
When a policy is not in-force, clients cannot commit revisions.