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Insurecom, Renewals

Overview

There are a number of ways of renewing a policy…

  1. Quote - If a policy hasn’t been entered in Durell it can be created at renewal as a new quote.
  2. Rebroke - If a policy has been entered in Durell it can be rebroked at renewal, which is like a new quote, except it’s based on existing policy data. It will include quotes from all insurers and schemes.
  3. Renewal (amended) – This is like a rebroke above (i.e. it re-quotes at renewal), except it’s limited to just the existing insurer and scheme. It may fail if the scheme is not EDI enabled.
  4. Renewal Invitation - If a policy has been entered in Durell with Insurecom and is a full-cycle EDI scheme, then a renewal invitation for the existing insurer and scheme will appear for you to take-up.

These procedures all result in the creation of one or more renewal versions for each policy. After you’ve received confirmation from the policyholder one of them will need to be “taken-up”, all as described in detail below…

1) Quote - Renew Policy Not Already In Durell

If a policy hasn’t been entered in Durell it should be processed like a new quote, as shown below – see also General, Quotes, Prospective Clients, General, Quotes, Entering, Saving, Deleting, etc

2) Rebroke - Existing Policy

To rebroke an existing policy…

This will generate a new version of the policy, without an insurer, policy number, on-risk date or premium, as shown below.

Edit the details as required, and in particular ensure the “Current or last insurer” field is set correctly. Over time Durell will learn the Insurecom insurer names (e.g. that ZURICH = Zurich Insurance Company), but initially you will need to re-select the Insurecom name from this dropdown each time you process a renewal (n.b. compare screens above and below). After editing the fields, as required, accept the prompt on the Premium Details screen to link to Insurecom.

On the Insurecom screen, as shown below, you can check the premium breakdown, print the policy summary, etc, all as per a new quote. Highlight your preferred renewal and click the “Save as renewal” button.

After you have returned to Durell’s “List of Policies” screen you may repeat this process (i.e. by highlighting the policy and clicking the “New” button). You may thus create multiple renewal versions of the policy with different schemes. If you create more than one renewal version the system will prompt you to set the stage of one of them to “Preferred renewal” while all the others will be set to “Renewal details only”. However at the final take-up you can chose any of these versions regardless.

3) Renewal (amend risk) – Existing Policy

This is similar to the rebroke sequence, described above, except after you click the “Starburst” or “New” button you select “Renewal for current policy”, as shown below. Also the subsequent Insurecom screen will be limited to just the insurer and scheme to be renewed.

4) Renewal Invitations - Full-cycle EDI Policies

At any time, though preferably about once a week, you should check for full-cycle EDI renewal invitations. To do so, starting from Durell’s Main Menu…

To view the received invitations, as shown below, you must ensure you set your view filter accordingly.

Renewal Letters

All of the above described processes will generate renewal versions for the selected policies, after which you’ll be able to produce letters, etc (see “Renewals, Print Invitations”).

Take-up Renewal

After you’ve received confirmation from the client you may take-up a renewal as follows…

…then (for any renewal) you may use the standard take-up method….

…or (provided the renewal is an Insurecom one) you may…

…then on the Insurecom Link screen…

…then on your way back to Durell…

…you’ll then be returned to the Premium Details screen in Durell where you should…