Set up new business notices

Table 1: Summaries of BriteCore’s new business notices and their uses.

Title
Usage
Trigger
Quote SummaryNew Business WorkflowWhen a user creates a summary during the quoting process, typically on the rating step.
Policy ApplicationNew Business WorkflowWhen new business is about to be or has been submitted.
Refused ApplicationNew Business WorkflowSend email to agent on rejected application.

Quote Summary

Hide Print Quote Summary Button

The hide_print_quote_summary_button setting allows clients to hide the Print Quote Summary button. This gives clients control over whether or not agents can generate Quote Summaries after a policy becomes active.

To enable the hide_print_quote_summary_button setting:

  1. Navigate to Settings > Advanced
  2. Search: hide_print_quote_summary_button
  3. Select true

Ex 1:

The current Quote Summary replaces all previously issued Quote Summaries, if any. Each policy period of one year beginning on the policy effective date and ending on the policy expiration date constitutes the policy period.

This policy applies only to those coverages indicated below for the limit of coverage as shown and for which a premium has been charged. The limit for each coverage shall not be more than the amount stated for such coverage, subject to all the terms and conditions of this policy.

The policy Deductible reflected on this Quote Summary applies to all property coverages unless otherwise stipulated within the policy language.

Ex 2:

This Quote Summary is for information purposes only and provides no insurance coverage.

The current Quote Summary replaces all previously issued Quote Summaries, if any. Coverage would apply only to those items indicated below for the limit of coverage as shown and for which a premium has been charged. The limit for each coverage shall not be more than the amount stated for such coverage, subject to all the terms and conditions of a policy. The Deductible reflected on this Quote Summary would apply to all property coverages unless otherwise stipulated within the policy language.

Ex 3:

The terms and conditions of this quotation may not comply with the specifications submitted for consideration. Please read this quote carefully and compare it against your specifications.

This Quote may be withdrawn by the insurer at any time prior to binding.

Note: This will be Direct Bill to the Insured. If coverage is bound the Policy and Initial Billing Statement will be mailed directly to the Insured. A copy of the Declarations page and a copy of the Initial Billing Statement will be mailed to your Agency’s office.

If you intend to collect the down payment from the insured, please make certain you also collect the policy fee. This fee is due with the down payment and is fully earned.

* If this is a Special Event Policy — Premium must be paid via Credit Card, ACH, Check or Cash, prior to binding coverage.

Payment should be sent to:
INSURANCE COMPANY
ADDRESS
CITY, STATE ZIP

Producer’s Signature to Bind: __
Date: __
Effective Date of Coverage: __

Policy Application

Setup

Printing

By default, Policy Application deliverable prints. A setting can override this default. When enabled, the deliverable will not automatically print but will have its print state set to printed. The print state is set to printed so agents may view the deliverable when the Only display printed deliverables in Policies and Claims ‘Documents’ page setting is also enabled.

Binding Statement

“Bound” insurance coverage means that an insurer has temporarily offered coverage while the underwriting (insurance) company is reviewing the application. This coverage is in effect under the assumption that the applicant will be approved. If a client allows applications to be submitted bound, a binding statement can be added to the Policy Application. BriteCore provides two options for the binding statement:

  1. A client can display the binding statement only when the application is submitted bound:
    1. Navigate to Settings > Deliverables
    2. Locate the Policy Application
    3. Click the pencil
    4. In the Front Text Area, paste: <b>Binding Statement: This application was submitted bound</b>
  2. A client can show the binding statement regardless of how the application is submitted and shows how the application was submitted, either bound or unbound:
    1. Navigate to Settings > Deliverables
    2. Locate the Policy Application
    3. Click the pencil
    4. In the Front Text Area, paste: <b>Binding Statement: This application was submitted bound {submit_bound}</b>

image2018-8-16_9-20-20.png

Remove No Answer Provided

When an application question is unanswered, the policy application deliverable can either be blank or show No Answer Provided after the question. BriteCore’s default behavior is to show No Answer Provided. A setting removes the No Answer Provided wording. The main case for this setting is for agents who work in areas with poor internet connection. In this way, the agent can print the policy application and answer the underwriting questionnaire by hand. To enable, check the Remove “No Answer Provided” from Application setting in Settings > Modules > BriteQuote > Options.

Ex 1:

The current Policy Application replaces all previously issued Policy Applications, if any. Each policy period of one year beginning on the policy effective date and ending on the policy expiration date constitutes the policy period.

This policy applies only to those coverages indicated below for the limit of coverage as shown and for which a premium has been charged. The limit for each coverage shall not be more than the amount stated for such coverage, subject to all the terms and conditions of this policy.

The policy Deductible reflected on this Policy Application applies to all property coverages unless otherwise stipulated within the policy language.

Binding Statement:
Notice to Applicants – As part of the Company’s Underwriting Procedure, a routine credit inquiry may be made which will provide applicable information concerning your character, general reputation, personal characteristics, and mode of living. Upon written request, additional information as to the nature and scope of the report if one is made, will be provided. All checks and drafts received are subject to payment by the financial institutions upon which they are drawn. No coverage shall be deemed to have been in effect from the effective date of this application for insurance if payment is refused on such check or draft tendered, or to be tendered in payment for this insurance.

WAIVER OF COAL MINE SUBSIDENCE
I (we) do not desire coal mine subsidence insurance coverage and hereby waive any right to such coverage under this policy or any future policy my (our) interest in the property described in the policy (in the application). Unless I (we) request coal mine subsidence coverage, in writing, at some future date.

Ex 2:

This Policy Application replaces all previous Policy Applications, if any.

VERY IMPORTANT: If the words “Binding Statement” do not appear immediately below, this application is being submitted to Mutual of Wausau Insurance Corporation unbound.

Binding Statement:
The policy is considered to be bound with Mutual of Wausau Insurance Corporation. This does not mean that underwriting relinquishes the right to alter this policy should a need be found in their review of this application.

CAUTION: READ CAREFULLY BEFORE SIGNING

I have read the above questions, and I hereby declare to the best of my knowledge and belief that all of the statements are true and that these statements are offered as an inducement to the company to issue the policy for which I am applying. I understand that Mutual of Wausau Insurance Corporation may perform a property survey. The property survey or any resulting advice or report does not warrant that the property or operations are safe or are in compliance with any law, rule or regulation.

In order to underwrite the insurance applied for above, I authorize Mutual of Wausau Insurance Corporation to obtain a consumer report and/or information from previous insurance carriers, regarding claim history and credit standing. You have the right to make a written request within a reasonable period of time to receive details about the nature and scope of the gathered information.

ACH Payment Authorization
To initiate ACH Payments with Mutual of Wausau, please read and sign below.

I/we authorize Mutual of Wausau Insurance Corporation to initiate debit entries for payment of premium bills each billing cycle, and if necessary, to initiate credit entries and adjustments for any debit entries in error to my bank account. This authority is to remain in force and effect until Mutual of Wausau Insurance Corporation has received written notification from me of its termination in such time and manner as to afford Mutual of Wausau Insurance Corporation and the financial institution a reasonable opportunity to act upon it.

If an ACH withdrawal attempt fails due to non-sufficient funds, we will send you, your agent and any mortgage holder a 10-day cancellation notice. A $25 service charge along with the premium due will be required as payment to prevent the policy from canceling. Only guaranteed type funds (cash, certified bank check, money order, etc.) will be accepted. Payment must be received in our office by the due date. At any time in the future, if you have a second ACH withdrawal attempt returned due to non-sufficient funds, we will send out a 10-day cancellation and will not accept payment as a means to prevent cancellation.

My signature below authorizes: (Please initial only one)
__ Initial Payment ACH
__ Future Payments ACH
__ Initial and Future Payments ACH

Ex 3:

Binding Statement: This application was submitted bound

The current Policy Application replaces all previously issued Policy Applications, if any. Each policy period of one year beginning on the policy effective date and ending on the policy expiration date constitutes the policy period.

This policy applies only to those coverages indicated below for the limit of coverage as shown and for which a premium has been charged. The limit for each coverage shall not be more than the amount stated for such coverage, subject to all the terms and conditions of this policy.

The policy Deductible reflected on this Policy Application applies to all property coverages unless otherwise stipulated within the policy language.

VERIFICATION OF CONTENT
I agree that the statements contained in this application are true to the best of my knowledge and that no material fact has been withheld. Furthermore, I agree to pay any surcharges applicable under Company rules which are necessitated by inaccurate statements. I understand that this policy may be canceled if this application contains any false information or material misrepresentation.

FRAUD STATEMENT
Any person who knowingly presents a false or fraudulent claim for payment of a loss or benefit or knowingly presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison.

POLICY PREMIUMS AND CHARGES
You may pay any amount from the minimum amount due to the total remaining balance. If you overpay the minimum amount due, the overpayment balance will be applied to the next billing period. Advanced payments allow you to skip subsequent payments and avoid installment fees. Billing notices will be mailed 45 days in advance of premium due dates.

I understand that if I make the initial payment or subsequent renewal payments by check, credit/debit card, electronic funds transfer, or other method of remittance and the payment is not honored by my financial institution for any reason, the Company shall be considered as not having accepted the payment and the policy will be cancelled.

I understand that if I make a payment outside of the premium due dates, acceptance of such a payment by the Company does not necessarily imply coverage by the Company.

I understand that the following charges may be assessed and the fees are separate from premium and are non-refundable. Imposition of these fees does not imply coverage. The Company reserves the right to amend the fee structure and/or amount of each fee. The Company will provide you notice of any changes prior to the effective date of the change.

A $30.00 service charge may be assessed to the balance due on your policy if any payment offered is not honored by your bank or other financial institution.

A $25.00 reinstatement fee may be assessed for any policy which is canceled and reinstated within 30 days of the prior policy expiration date.

A $3.00 non-EFT installment fee may be assessed for each installment payment made via any method other than Electronic Funds Transfer (EFT).

A $1.00 EFT installment Fee may be assessed for each installment payment made via Electronic Funds Transfer (EFT).

A $25.00 late fee may be assessed when the minimum amount due is paid after the due date but before the policy cancellation date.

Applicant(s):__
Dated:___, 20

ANNUAL MEETING NOTICE
The insured is hereby notified that by virtue of this policy he is a member of the CARRIER NAME and that the annual meetings of said Company are held at the Home Office on the 3rd Saturday in January of each year at 10 a.m.

REPLACEMENT COST TERMS
If applicable, the CARRIER NAME replacement cost is an estimated replacement cost based on general information about your home. It is based on models that use cost of construction materials and labor rates for like homes in the area. The actual cost to replace your home may be significantly different. CARRIER NAME does not guarantee that this figure will represent the actual cost to replace your home. You’re responsible for selecting the appropriate amount of coverage and you may obtain an appraisal or contractor estimate which CARRIER NAME will consider and accept, if reasonable. Your policy may contain a coinsurance provision. This section does not modify or change in any way the terms and conditions of your policy. Please read the policy terms and conditions carefully.

INFORMATION GATHERING & CONSUMER REPORTING
I acknowledge that the Company and its affiliates may collect and use information from consumer reporting agencies, such as loss histories and credit history reports. I authorize the Company to use a credit-based insurance score based on the information contained in that credit report. This information will also be used to underwrite my insurance and to provide me with an accurate quote. Furthermore, I authorize the Company to obtain future reports to update or renew the insurance or to offer replacement insurance. I also acknowledge that information about me may be disclosed without authorization, but only as permitted by law. The credit bureau used by the Company is TransUnion and may be contacted at TransUnion Consumer Solutions, P.O. Box 2000, Chester, PA 19022-2000 or by calling 1-800-916-8800. I understand that while TransUnion provided the report, they did not make the decision that affected the premium on my policy, nor would they be able to tell me the reasons why this decision was made.

HOW CAN I REVIEW AND CORRECT INFORMATION YOU HAVE ABOUT ME?
To review information we have about you, send a written request to CARRIER NAME AND ADDRESS. You must describe the kind of information you want to review. Include your full name, address, policy number (if applicable), and phone number. Within 30 business days, we will describe what is available and how you may request corrections. We will also identify anyone we show as having received the information within two years prior to your request. Finally, we will identify the companies that have provided Consumer Report Information about you. You may review the information at our office or receive a copy of it for a fee to cover our costs. We will not provide information that we feel is privileged, such as information about insurance claims or lawsuits. To correct information we have about you, send a written request as described above explaining your desired correction. Within 30 business days, we will either make the requested correction or tell you why we will not. We can’t correct Consumer Report Information, such as your credit report. To do this, you must contact the consumer reporting agency that provided it. If we make your requested correction, we will notify you and anyone named by you who may have received the information within the previous two years. If we refuse to make the requested correction, you may file with us a concise written statement about why you object, including the information you think is correct. Your statement will then become a part of your file.

I hereby apply for insurance on the property as indicated herein, against direct loss by the perils on the forms requested, subject to all the terms and conditions of the policy issued. I hereby agree that any building used or originally intended to be used in whole or in part for any farming or business purpose, and not specifically designated for use as an appurtenant or related private structure, will not be considered an appurtenant or related private structure.

Applicant(s):___
Dated:__, 20__

Show Insured Date Business Started

A setting allows clients to show a business’ start date on the policy application to:

  • Allow the insured to verify the information
  • Differentiate between two similarly named businesses
  • Determine if a business complies with underwriting criteria – some types of businesses must be in business for a certain amount of time before they can be written

To display the date business started on the policy application:

  1. Login as Admin
  2. Navigate to Settings > Advanced
  3. Search: show-insured-date-business-started
  4. Set to True

Ex: Policy Application without business start date

    image2018-8-24_14-13-22.png

Ex: Policy Application with business start date

    image2018-8-24_14-14-26.png

Show Property Address as Insured Address

Clients may need to show the property address for a Workers’ Compensation line. The address of the named insured is rarely useful as they could be located anywhere, it’s much more relevant to show the address of the property that is going to actually be insured. To enable:

  1. Login as Admin
  2. Navigate to Settings > Advanced
  3. Search: show-property-address-as-insured-address
  4. Set to True

Ex: Property Address Shown as Insured Address

    image2018-8-24_14-17-21.png

Omit Automatic Signature Date

By default, when an application for new business is created, the date the application was generated shows on the signature line as pictured below.

image2019-2-6_11-10-1.png

Having BriteCore automatically set the signature date can be problematic because the automatically created date is often prior to when the insured and agent legally sign the document.

The omit-automatic-signature-date advanced setting prevents the system from pre-filling the date on the policy application.  Set to True the signature date will no longer automatically populate the application, as pictured below.

image2019-2-6_11-10-33.png

To enable the setting:

  1. Log in as an Administrator
  2. Navigate to Settings > Advanced
  3. Search omit-automatic-signature-date
    • Set to True the enabled signature blocks in any deliverable will no longer show the automatic populated signature date (day document was produced).
    • Set to False (default) the date the application was generated automatically prefills.

Refused Application

email-submitted-non-active-files

BriteCore does not print items or send correspondence on policies that have never been put in-force (i.e.- submitted but not issued applications). Applications with the policy status of Submitted that will eventually be set to Rejected are not included in policy print; therefore, deliverables from these applications are not queued up to be emailed to clients and need to be emailed manually. However, clients may want to send correspondence, such as a rejection letter, via email to the agent.

The email-submitted-non-active-files setting allows clients to determine which deliverable should be emailed to agents on unissued policies. To enable the setting:

  1. Create a custom deliverable (this can be any custom name). Notate the name of the deliverable.
    Ex: Refused Application
  2. Navigate to Settings > Advanced
  3. Search: email-submitted-non-active-files
  4. Specify the exact name of the deliverable you want to email to the customer in quotes and within brackets
    Ex: [“Refused Application”]
  5. Navigate to a policy with Submitted status and select Custom Deliverable
  6. Choose “Refused Application” and select Done. This deliverable will now be placed in the Attachments tab on the policy.
  7. Go to Policy > Processing > Pending Email > Select the Send Emails from [Specified Date] button
  8. An email is sent to the agent with a link to the custom deliverable; in this example, “Refused Application”