Reinstate an expired policy

Purpose

Cases exist when an expired policy needs to have coverage reinstated:

  • To reinstate coverage without a gap, use the workflow below
  • To reinstate coverage with a gap, follow the Rewrite a Policy workflow

Setup

Enable the Setting

  1. Navigate to Settings > Modules > Policies > Policy Lifecycle > Expiration
  2. Check Allow expired policies to be reinstated
  3. Update the Reinstatement Prompt, which is the prompt the underwriter/policy processor will see when reinstating the policy

Update Reinstatement Settings

  1. Navigate to Settings > Policies > Policy Lifecycle > Reinstatement
  2. Check Notice of Reinstatement if you would like to issue the notice when reinstating the expired policy

Note: Checking this box will generate the notice for every reinstatement, not just reinstatements concerning expired policies.

  1. Select + to add Reinstatement Reasons, which will be selectable by the underwriter/policy processor when reinstating an expired policy
  2. Select Save and Exit

Update the Notice of Reinstatement

  1. Navigate to Settings > Deliverables
  2. Locate the Notice of Reinstatement
  3. Select the edit icon
  4. Add the {reinstatement_reason} and {reinstatement_description} HTML tags to the deliverable
    1. {reinstatement_reason} will populate with the list of selectable reasons
    2. {reinstatement_description} will populate with the text the underwriter/policy processor types when reinstating a specific policy

Update Permissions

  1. Contact BriteCore via a ticket to restrict which users can reinstate an expired policy
  2. Navigate to Settings > System Wide > Permissions
  3. Restrict a user with appropriate permission levels from reinstating an expired policy via britecore/policies/reinstateExpired

Process the Reinstatement

  1. On an Expired revision of a policy, select Reinstate Policy

Note: Only users with the appropriate permissions will be able to reinstate the policy.

  1. Select a Reinstatement Reason
  2. If needed, add a Further Description
  3. Since the renewal on an expired policy will be issued late, check the first box (Check this box to push out the due and cancel date of the renewal invoice to provide the insured the requisite time to pay) for BriteCore to automatically push out the due and cancel dates of the renewal in accordance with your billing settings.
  4. Check the second box (Check this box to create a Notice of Reinstatement) to generate a Notice of Reinstatement
  5. Select Ok to process the reinstatement or Cancel to exit
  6. The Renewal Billing Statement and, if applicable, the Notice of Reinstatement will print overnight
  7. Premium records will update overnight
  8. Data will be sent to the applicable vendors (e.g., IVANS and InsVista)

Assess Reinstatement Fee for Expired Policy, if Desired

If a policy expires, clients may charge a fee when reinstating expired policies by setting a value in in the Reinstatement tab in the Policy Lifecycle screen. By default the fee amount is set to $0 for reinstatement. To change the Reinstatement Fee:

Note: The Dollar amount assessed when a policy is reinstated fee only applies to reinstating cancelled policies, not expired policies.

  1. Log in as Admin
  2. Navigate Settings > Modules > Policies
  3. Select Edit Policy Lifecycle
  4. Select Yes in the popup window
  5. Navigate to Reinstatement tab
  6. Enter desired dollar amount in the Dollar amount accessed when an expired policy is reinstated box
  7. Select Save and Exit
  8. Select Yes to confirm the overwrite in the popup window

Reinstate an Expired Policy

  1. Select an expired policy
  2. Select Reinstatement Policy OK
  3. Input necessary information in pop-up window

image2019-1-29_9-37-31.png

  1. Select OK