Set up a threshold limit

Clients can define a threshold of applicable limits against which either an email is sent and/or an approval code is necessary for quoting to continue. Threshold limits apply to both agents and staff. When the limit threshold is exceeded:

  • An email is sent to the designated recipients.
  • If the approval code setting is enabled, the user receives a pop-up message that includes a prompt for an approval code. No further changes can occur on the policy without submission of the approval code.
  • If the approval code setting is enabled, the authorized user accesses the Provider Administrator portal and enters the approval code on the policy.
  • If the approval code setting is enabled, when the correct code is entered, the user can proceed with the quote, application, or policy.
    • If the approval code is entered on an application, then the application must be submitted unbound. 
    • Limits below the approved limit will automatically be approved.
    • Limits above the approved limit must be approved again.

Prerequisites

Before you can define the threshold, you need to:

  1. Determine the applicable coverage limits and value for each policy type. For example:

    When Homeowners coverages A, B, C, and D limits are greater than $1,000,000, send an email.

  2. Determine if an approval code is needed to process policies when the limit is above the threshold.
  3. Designate an authorized user who will maintain and enter the approval code when necessary.
  4. Determine an approval code.

Set up in the Lines module

In Lines, you can:

  • Set up the threshold that will trigger an administrative alert.
  • Enable the setting to require an approval code when the threshold is reached.
  • Define the wording for the limit threshold pop-up window.

To set the threshold that will trigger an administrative alert:

  1. Navigate to Lines and select the effective date that you are defining the threshold for.
  2. From the Select State or Province dropdown list, select the state that the threshold is being defined for.
  3. Select the pencil icon next to policy type you’re defining the threshold for.
  4. Navigate to Limit threshold upon which a policy of this policy type sends an administrative alert. In the box, type the value of the threshold that will determine when an administrative alert is sent.
  5. Repeat steps 3 and 4 for each policy type you’re setting the limit threshold for. Select Back to Policy Types List or Back to Effective Dates List as needed.

To set the threshold that will require an approval code:

  1. Complete steps 1–4 to set the threshold that will trigger an administrative alert.
  2. Select the When this threshold is reached, a policy of this policy type cannot be written without administrative approval checkbox.
  3. Repeat steps 1 and 2 for each policy type you’re setting the limit threshold for.

To create the wording that will display in the pop-up window when the limit threshold is reached for a policy type:

  1. Complete steps 1–4 to set the threshold that will trigger an administrative alert and complete steps 1 and 2 to set the threshold that will require an approval code.
  2. In the Text for popup when limit threshold is reached box, type the statement you want to appear. For example:

    You have requested limits above $1 million in coverage. Please contact the Underwriting Department for approval.

  3. Repeat steps 1 and 2 for each policy type you’re setting the limit threshold for.

Set up System Tags

You can add the system tag Reinsurance Limits to tag line items that the limit threshold should be checked against.

To set up this system tag:

  1. Navigate to Settings > System Wide > System Tags.
  2. From the Select a Tag dropdown list, select Reinsurance Limits. You can type in the box to find it faster.
  3. From the Select an Effective Date dropdown list, select the Effective Date of the policy line items that you want to add the system tag to.
  4. Select Tag New Items.
  5. In the Named box, type the name or keyword associated with the line items you want to apply the tag to.
  6. Press Enter/Return on your keyboard.
  7. Select the checkbox of any associated line items you want to apply this system tag to.
  8. Repeat for all applicable coverages.
  9. Select Done.

Set up the alert

You can determine the recipients of the administrative alert for reaching the limit threshold. To determine the recipients:

  1. Navigate to Settings > System Wide > Administrative Alerts > Lines.
  2. In the Limit Threshold Reached, Administrative Approval Required box, type the email address(es) of the recipients for the administrative alert.
  3. Select Save.

The administrative alert or email that is sent will display the following message:

Property limit threshold reached – [Policy Number] The property limit threshold has been reached, please review.
[link to policy]

Create a custom quoting limit threshold error message

The limit-threshold-submission-error advanced setting allows users to create a custom error message that will be displayed if an agent tries to submit an application that exceeds the quoting limit threshold.

To enable this advanced setting:

  1. Navigate to Settings > Advanced.
  2. In the Search for a Setting box, type limit-threshold-submission-error, then select Search to press Enter/Return on your keyboard.
  3. In the Setting Value box, type the custom error message.

Usage considerations

  • When the Approval Code is entered, a note will be created in the policy’s Notes screen.
  • The Approval Code is stored in the database to keep unauthorized users from accessing it.
  • If Loss Exposure Groups are used to group risks, the limit threshold applies only to those tagged items that are within the same-numbered group.