Renewal download times

Renewals for integrated carriers will download into bond and be delivered to customers via email.

The 'usual' renewal download timeframes for each integrated carrier are as follows:

 

• SGI: 40 days prior to renewal date.
• Agile Sprint: 21 days prior to renewal date.
• Wawanesa: 21 days prior to renewal date. 
• My Mutual: 45 days prior to renewal date.

 

 

IMPORTANT - Information on renewals 

 

Two things to consider regarding payments:

 

• Has the customer previously given credit consent? If they have not, only annual pay will be available.  If they want monthly, as a broker you will need to perform a Change Request, answer Yes to the Credit Consent. Once the change is completed, you can use the Change Payment Frequency icon to change payments to Monthly and the Premium Finance Agreement will be available to send to your customer. See article: Email and View PFA.
• If a policy was previously pending cancellation by registered letter, then reinstated, the customer does not qualify for Monthly payments through the platform. 

 

 

When a renewal downloads, the following takes place:

 

• A new activity is created for the renewal.
  • A renewal activity is created and will be sitting open in the ‘Customer Care’ silo on the bond activities overview page. The renewal activity is to alert the user that there is a new renewal to review.
  • Please follow your internal renewal review processes.

 

Renewal Activity example:

 

 

(The renewal notice above was received on 26th February 2022 and the renewal takes effect on 19th March, 2022).

 

• Renewal documents are available.
  • Renewal documents will be available under Policy Documents and are marked as Renewal, shown here:

 

 

 

 

• Underwriting information tab is updated.
  • The Underwriting tab on the righthand panel, in the customer file, is updated with the latest version of policy information.

 

•  A new payment period will be created under Payments.
  • If the payment frequency is annual, the payment will be withdrawn on the renewal date.
  • If the payment frequency is monthly, the payment will be withdrawn on the next monthly payment date. Even if the customer has changed All Dates during the previous policy term, the chosen payment date remains on their new policy term. (The expectation is that the date chosen will stay as that date forever, until changed). 

 

 

 

•  Additional renewal activities are created. 
  • Two system generated renewal emails will be sent to the insured and copies of the emails will be attached to the clients file.  
     
  • Email to customer: Your Renters Insurance Policy Has Been Renewed.
  • Email to customer: Exclusive Savings Just For You! 

 

The activities will be Informational, like here:

 

 

 

•  A certificate of insurance will be generated if a mortgage interest is noted. 
  • Email to Customer: IMPORTANT: Mortgage Certificate of Insurance

 

Example:

 

 

 

 

If a renewal failed to download, an activity will appear in the Customer Care silo of the bond overview page. 

A support ticket should be submitted, including the policy number, to request the fix.

 

Here is an example of the renewal failure activity:

 

 

 

 

 

Given a policy has been renewed but is not yet effective (Pending Renewal), when the customer requests a Policy Change and the change is to be effective within the term of the renewal, then the system will calculate and allow for this change to be processed.

 

When you make a Change (bond and pocket for customers), the left panel will contain a "Policy Term" drop down menu, and "Effective Date" calendar picker. This feature allows you to select when you want to make the change from.  If it is after the renewal date, then you can pick the new policy term and this will allow the change from the renewal of the policy.

 

Here is an example of that interface:

 

 

 

If a policy has been renewed but is not yet effective (Pending Renewal) and the customer requests Change Policy and it is effective within the current term,

the system will calculate and allow for this change to be processed AND be applied to the renewal term.

 

The Underwriting screen updates with the Change Policy details.

The Policy Documents icon will show the email that is produced for the Change Policy. 

 

 

 

If a policy has been renewed but is not yet effective (Pending Renewal) AND has already gone through a policy change, when you are trying to proceed with another change, the system will NOT allow this, and you will have to wait until the updated change is effective.

 

In addition, you cannot change the Customer Profile screen whilst the renewal is pending.  If you try to edit any of the fields on this screen you will see the warning verbiage:

 

 

Any of the above fields cannot be changed until the renewal date.

Setting an activity to process the change once the renewal date has arrived and processing then, would be a suggested workflow. 

 

 

If you have a customer that wants to renew the policy but needs to cancel after the renewal date, you will have to wait for the renewal date to pass in order that you will be able to cancel.

 

Here is an example:

• Customer has a renewal date of December 18th, 2021, which is a date in the future (today is December 13th, for example).
• Customer would like to cancel the policy on January 3rd, 2022.

The platform will only allow you to cancel within the current policy period and therefore the date available in the Cancel screen only goes UP TO that renewal date. Shown here:

 

 

You will have to wait for the new policy period, to process the cancellation.

We suggest to set an activity for the renewal date, to proceed with cancelling from the desired, future date.