Policies: Renewals

BriteCore processing

Standard process

  • BriteCore will automatically renew policies by creating and committing the renewal revision. This will occur when the renewal invoice is scheduled to print. For example, if the renewal invoice is scheduled to print 33 days in advance of the renewal then the system will renew the policy 33 days in advance of the renewal effective date.
  • The renewal will reflect any applicable changes to the policy including:
    • Adding inflation guard
    • The addition of a mandatory coverage
    • Updating categories (such as age of dwelling)
    • Updating claim history for claim surcharging/crediting
  • A renewal Declaration and invoice will print reflecting any changes to the policy
  • No forms will print unless:
    • A new policy form has been added to the policy at renewal
    • A form is set up to print at every renewal
    • A form’s code or edition number has been updated
  • Vendor data will process as it typically does

Secondary process

BriteCore may not auto-renew a policy for various reasons. If a renewal does not process, clients will be alerted via email. The emails will provide a reason for the failure and, on occasion, offer suggestions for addressing the issue. When a renewal fails due to a change to lines, the Persistent Builder tool will help you process the renewal.

Cross a new lines effective date

A client’s site may have a new lines effective date. As policies renew, they will renew onto that new effective date and pick up any associated changes. If there are no conflicts, BriteCore will follow the Standard Process above; if there are conflicts, BriteCore will follow the Secondary Process.

Update all age items upon policy renewal

The policy processing setting enforce-year-built-across-terms has been enhanced to include revisions for all age related items including age of roof, age of home, etc. Even when a policy is rewritten, the setting will ensure that any items including values pertaining to age will update to match the prior term’s values, thus remaining consistent across revisions.

This revision check can also be completed by selecting Rate and Save and refreshing the page.

To enable:

  1. Go to Settings > Modules > Policies > Processing
  2. Select Enable ‘enforce-yearbuilt-cross-terms’ Advanced Setting

 

Engineers can see PR 11333 and PR 11719 for more information.

Revise Year Built value

To revise a Year Built value to something other than the prior term you must temporarily turn off the enforce-yearbuilt-cross-terms setting to go back in the revision history and correct the incorrect dates. Save the changes and re enable the setting. Now the setting will ensure the Year Built will always check against the correct prior revision date. Use the following steps:

  1. Log on as an Administrator
  2. Navigate to Settings > Advanced
  3. Search enforce-yearbuilt-cross-terms
  4. Set to False, temporarily disable the setting
  5. Navigate to the Policies module
  6. Select the policy for revision
  7. Navigate to the Builder tab
  8. Select the down arrow on Main Line Dwelling Rating Information
  9. Select the correct Year Built/Age of Dwelling from the dropdown menu options
  10. Select Rate and Save
  11. Navigate to Settings > Advanced
  12. Search enforce-yearbuilt-cross-terms
  13. Reset to True

    Engineers can read PR10786 for more information.

Late term endorsements

If an endorsement occurs after the renewal has been issued, BriteCore will attempt to carry forward any changes.

Automatic

If the change can be carried forward, BriteCore will automatically apply the changes, commit the revision, update the accounting (if necessary), and generate applicable deliverables.

Manual

If the change can’t be automatically carried forward, a popup will generate indicating the change must be manually completed on the renewal revision.

Leftover debits/credits from the previous term

Outstanding debit

When the next payment is received, it will apply to the term 1 outstanding debit first. At present, the renewal invoice does not pick up the outstanding debit for term 1, so term 2 may also be underpaid once the payment is received.

Outstanding credit

Any outstanding credits will be carried forward on the renewal effective date. Since the credit is not carried forward until the renewal effective date, term 2 may also end up with a credit.

Collect cross term debits

By default, BriteCore does not transfer cross term debits from the previous term to the renewal term. However, when the move_cross_term_debits setting is enabled, BriteCore will move outstanding debits to the following term on renewal and display them on the Renewal Billing Statement with a few exceptions*.

The move_cross_term_debits setting allows clients to move prior term outstanding debits to the renewal term. This allows clients to collect fees that were previously not collected when the Policy Cancellation Threshold goes over the provisioned amount. For example, if the Policy Cancellation Threshold (Settings > Modules > Policies > Edit Policy Lifecycle > Non-Pay > Threshold) is set to $50, any fees below that amount will carry over for the client to collect. To enable the setting:

  1. Log in as an administrator
  2. Navigate to Settings > Advanced
  3. Search for move_cross_term_debits
  4. Select True

Migrate endorsements

When the move_cross_term_debits advanced setting is enabled, cancelled endorsements will migrate to the renewal term when the cancellation date is before the renewal invoice generation date.

Endorsement cancellation date is before renewal invoice generation date

If an unpaid endorsement invoice for a policy contains a cancellation date on or before the renewal invoice generation date, the renewal processing will migrate the invoice to the renewal term. The previous term will display an “Adjustment” AR entry ith the Summary text, “Debit Transfer Adjustment – Outstanding – Invoice.” This migration will modify the trailing balance to “0.00,” and the Currently Due balance for the previous term will not include the open endorsement invoice amount. The open endorsement invoice amount will be migrated to the renewal term through a “Debit Transfer” AR entry with the Summary text “Transfer debit for outstanding: Invoice.” The Currently Due balance for the renewal term will include the open endorsement invoice amount until paid.

Endorsement cancellation date equals renewal generation date or after

If an unpaid endorsement invoice for a policy contains a cancellation date after the renewal invoice generation date, the renewal processing will retain the open endorsement invoice on the previous term. By default, the renewal term will not display a AR entry for the open endorsement invoice. However, if the show_previous_credits_and_debits advanced setting is enabled, the renewal term will display a “Previous Debit” AR entry for the open endorsement invoice with the Summary text, “Unpaid debit(s) from previous term.” The previous term Currently Due balance will include the endorsement invoice amount until paid. The renewal term balance will not include the amount of the open endorsement invoice.

Exceptions to migrated debits

Outstanding debits will only appear on the Renewal Billing Statement if the outstanding debit is transferred when the Renewal Invoice is generated and the Debit Transfer appears on the Accounts Receivable screen first. There are several scenarios that can cause a debit transfer to be placed after the renewal, such as when a payment is applied while the prior term is still in effect. In this scenario, the debit transfer and its adjustment line are removed to allow the payment to be applied to the prior (active) term. If a debit transfer falls after the renewal invoice, the debit transfer would appear on the following Installment Billing Statement.

Below are workflows where the debit will not carry forward:

  • When the last Installments Cancel Date falls after the Renewal Timeline setting.
  • When the Renewal is manually created a year in advance (outstanding invoices on the current term).
  • When you make a payment in the past and the renewal term has already started, the previous debit transfers are soft-deleted. However, if there is an outstanding balance left on the prior term, then it will remain on the prior term because the term has already ended.
  • When a policy is re-written, as it only has one term.

When the prior term is still in effect and a payment is applied (even with the Debit Transfer on renewal), then the Debit Transfer and its associated Adjustment line are removed. New Debit Transfer and Adjustment lines will be applied if there is still an outstanding debit. In this scenario, the new Debit Transfers generated from making a payment will appear after the renewal billing statement and therefore will not show up on the Renewal Invoice (the Renewal Invoice has already been billed and mailed out).

BriteCore staff can read PR 10229 for more information.