Oceanwide Bridge User Guide - Master Covers€¦ · Web viewVersion 2.3.0. Bridge User Guide. User Guide - Master Covers. 158 Table of ContentsOceanwide Bridge User Guide - Master

0Table of Contents

Version 2.3.0 Bridge User Guide User Guide - Master Covers

Oceanwide Bridge

User Guide - Master Covers

Version 2.3.0

iTable of Contents

Table of Contents

TABLE OF CONTENTS.........................................................................................I

INTRODUCTION...................................................................................................1

MANAGING MASTER COVERS..........................................................................2

Viewing and Modifying a Master Cover...................................................................4

Setting a Master Cover to Draft, Test, or Live Status.............................................5

Copying a Master Cover............................................................................................7

Deactivating a Master Cover.....................................................................................9

Generating a Master Cover Report.........................................................................10

DETAILS PAGES................................................................................................12

Quote Calculations Order........................................................................................13

General Information.................................................................................................14

Product Description.................................................................................................20

Policy Numbering.....................................................................................................23

Policy Settings.........................................................................................................28

Automatic Processing.............................................................................................38

Quote Groups...........................................................................................................41Creating a New Quote Group...........................................................................................41Viewing and Modifying a Quote Group.............................................................................43

Quote Options..........................................................................................................45Adding a Quote Option.....................................................................................................45


iiTable of Contents

Viewing and Modifying a Quote Option............................................................................48

Insurers.....................................................................................................................49Adding an Insurer.............................................................................................................49Viewing and Modifying an Insurer....................................................................................52Removing an Insurer........................................................................................................53

Distributors...............................................................................................................55Adding a Distributor..........................................................................................................55Viewing and Modifying a Distributor.................................................................................58Removing a Distributor.....................................................................................................59

E-mail Configurations..............................................................................................60Creating an Automatic E-mail Configuration....................................................................60Creating a Manual E-mail Configuration..........................................................................64Viewing and Modifying an E-mail Configuration...............................................................69Deactivating an E-mail Configuration...............................................................................71

Documents / Forms..................................................................................................73Adding a Document or Form............................................................................................73Upload Document Template.............................................................................................79Viewing and Modifying a Document or Form....................................................................81Deactivating a Document or Form....................................................................................83

Rates.........................................................................................................................85Creating a Rate................................................................................................................85Viewing and Modifying a Rate..........................................................................................89Deleting a Rate................................................................................................................90

Validation & Workflow Actions...............................................................................92General Settings..............................................................................................................92Creating a Validation Rule...............................................................................................94Viewing and Modifying a Validation Rule.........................................................................99Deleting a Validation Rule..............................................................................................100

Insuring Conditions...............................................................................................101Adding an Insuring Condition.........................................................................................101Viewing and Modifying an Insuring Condition.................................................................103Deleting an Insuring Condition.......................................................................................105

Taxes & Fees..........................................................................................................107Adding a Tax or Fee.......................................................................................................107Viewing and Modifying a Tax or Fee..............................................................................109Deleting a Tax or Fee.....................................................................................................110


iiiTable of Contents

Limits.......................................................................................................................111Creating a Limit..............................................................................................................111Viewing and Modifying a Limit........................................................................................113Deleting a Limit..............................................................................................................114

Deductibles.............................................................................................................116Creating a Deductible.....................................................................................................116Viewing and Modifying a Deductible..............................................................................118Deleting a Deductible.....................................................................................................120

External Services...................................................................................................122

Payment Settings...................................................................................................124

REFERENCE....................................................................................................127

Appendix B - Prorating and Adjustments............................................................131

Appendix C - Rates................................................................................................135Premium Type................................................................................................................135Rate Type....................................................................................................................... 136Driver Field.....................................................................................................................140Amount or Rate..............................................................................................................140Attachment and Limit.....................................................................................................140Trigger Name.................................................................................................................142Sequence....................................................................................................................... 142Effective Date and Valid Until Date................................................................................144

Appendix D - Setting Time of Day for Policy Terms...........................................145Display Valid Until Date With Same Day & Month as Effective Date..............................145Policy Start Time............................................................................................................146Combining the Features.................................................................................................146

INDEX................................................................................................................148


1Index

Introduction

Welcome to the Bridge insurance access portal. The system provides a full workflow, from the administration of products and coverage, to the submission and management of individual policies.

Access to all features, options, and data are controlled by the settings in your user account. This guide is for users with master cover management rights, covering the creation and management of master covers. A master cover defines the policy creation rules and parameters for a specific insurance product.

This guide assumes the user is familiar with the general functions of the system. For instructions on logging in and using common features throughout the system, see the User Guide - Introduction document.

Guide

The instructions are divided into the following major categories. Click a link to jump to the appropriate section.

Managing Master Covers How to create and manage master covers.

Details Pages Detailed descriptions of the options available in the master covers Screens widget.


2Index

Managing Master Covers

This section details the creation and management of master covers.

Guide

Click a link to jump to the appropriate section.

Creating a New Master Cover Starting the process of creating a new master cover from scratch.

Viewing and Modifying a Master Cover Editing the details of an existing master cover.

Setting a Master Cover Status Changing the status of the master cover for editing, testing, or live use.

Copying a Master Cover Creating a duplicate master cover.

Deactivating a Master Cover Disabling a master cover so that it cannot be used.

Generating a Master Cover Report Creating a report showing a detailed listing of master cover settings.


3Index

Creating a New Master Cover

1. In the main menu, select Product Design, then select Master Covers. A list of all available master covers is displayed.

Tip: By default, only Active master covers are displayed. Clear the filter in the Status column to view all master covers.

2. Click Create. The General Information page opens. See the General Information section for a detailed description of the fields.

3. Fill in the necessary information.

4. Click Add to save the master cover but remain on the page, click Add & Close to save the master cover and return to the master cover list, or click Close to return to the master cover list without saving the master cover.

5. If you click Add, the Screens widget opens to display all available pages. See the individual page descriptions for further information.


4Index

Viewing and Modifying a Master Cover



2. Click a link in the Name column to open the master cover to the General Information page and open the Screens widget. If there are a large number of available master covers, see the section on Using Grids in the User Guide - Introduction document for help on finding the appropriate master cover.

3. Use the Screens widget to navigate between pages for the current master cover. Each page is detailed in its own section. See the individual page descriptions for further information.

Note: The Status of the master cover can restrict changes. When the master cover is set to Draft or Test all settings can be edited. When the master cover is Live, most settings are locked to avoid causing problems with active clients.


5Index

Setting a Master Cover to Draft, Test, or Live Status

The Status of the master cover controls whether the details can be edited and whether the product is available for the creation of submissions.




3. The three buttons Set Draft, Set Test, and Set Live are used to set the status of the master cover. The button for the current status is not displayed.

Set Draft This is the starting status for new master covers. All settings can be changed, but submissions cannot be created.

Set Test In test mode, all settings can be changed, and test submissions can be created to verify the settings and functionality of the workflow.


6Index

All submissions created in test mode (as well as any clients created with those submissions) will be deleted when the master cover is set to Live.When the master cover is in test mode and is set to automatically generate policy numbers, any bound policies will be numbered according to the settings, except:

A prefix of "Test-" will be added at the beginning of the number, in addition to any configured prefix. The sequential portion of the number will use an internal system counter instead of the configured Next

Sequence Number.Set Live When set to live, most settings in the master cover are locked. The master cover is ready for business.


7Index

Copying a Master Cover

To reduce unnecessary data entry, Master Covers can be copied to produce a new product. If a planned product is similar to an existing product, the Master Cover for the existing product can be copied and modified to suit the new requirements.




3. Click the Copy button. A full copy of the master cover is generated and saved, and a message shows Successfully Copied.

4. The new master cover can now be modified to suit the new product.

Notes:


8Index

The copy is Active, and in Draft mode, regardless of the status of the original master cover.

The name is set to the same name as the original master cover, except that “ – Copy (01)” is added at the end. If other copies already exists, the number in parentheses increases.

Examples:Master CoverMaster Cover – Copy (01)Master Cover – Copy (02)

This name can be changed to whatever is required.

All information is copied exactly as it exists in the original master cover, except for the following:o The name is modified as described above.o The Code field is left blank. If the new master cover is to be used for integration purposes, a new and unique

code must be entered.o The Created By and Last Modified By details are changed to identify the user who created the copy, along with

the date and time the copy was created.

The settings for Policy Numbering are copied. These should be modified as necessary to ensure unique identification of policies.


9Index

Deactivating a Master Cover

Once created, a master cover cannot be deleted. It can be deactivated, which leaves it linked to any existing submissions, policies, and resources, but prevents it from being used for new submissions.




3. Uncheck the Active checkbox.

4. Click Save to save the changes and complete the deactivation of the master cover.


10Index

Generating a Master Cover Report

A Master Cover Report can be generated to provide a complete overview of a master cover, detailing settings and linked resources.

The following areas are included: General Information Insurers Distributors Limits Deductibles Rates Validation Rules Insuring Conditions Taxes & Fees

Note: Each section is only included if you have the necessary view rights for that section.



11Index



3. Click Master Cover Report at the bottom of the page.

4. A standard Save/Open dialogue box appears, the file can be saved as an Excel document, or opened directly in Excel.

5. The different sections of the report are under separate tabs. Select each tab to view the appropriate information. The columns are sized for easy printing.


12Index

Details Pages

A master cover is defined across several pages, each one covering a selection of related settings. The Screens widget is used to navigate between pages.

Guide

Click a link to jump to the appropriate section.

General Information Options for policies and the master cover itself.

Product Description Defines how the master cover is presented in the product selection page.

Policy Numbering Defining the policy number generation rules.

Policy Settings Options for the submissions and policies, as well as the workflow.

Automatic Processing Options for automatic renewal of policies nearing their expiration date.

Insurers Attaching insurers to the master cover.

Distributors Attaching distributors to the master cover.

E-mail Configurations Configuring e-mails for automatic or manual use.

Documents/Forms Configuring documents for automatic or manual generation.

Rates Defining rates for premium calculations.

Validation & Workflow Actions

Defining rules for entering data in the submission form.

Insuring Conditions Attaching insurance clauses to appear on the submission and policy.

Taxes & Fees Applying taxes and extra charges.

Limits Setting coverage limits.

Deductibles Setting deductible amounts.

External Services Configuring the automatic export of policy information to external systems.

Payment Settings Configuring direct payment by credit card.


13Index


14Index

Quote Calculations Order

Whenever the system calculates a quote, whether initiated manually or automatically, it follows a sequence of validations and calculations. This sequence can affect the results of settings within the master cover, and should be taken into account during configuration.

1. Data Validations and Warnings: Checks the information on the current page against any Data Validation and Warning rules.

2. Attach Insurer: The insurer selection rules are checked, and an insurer is selected for the submission.

3. Calculate Premium: All premiums are calculated according to the values in the submission.

4. Calculate Taxes/Fees: All appropriate taxes and fees are calculated against the final premium.

5. Calculate Commissions: The distributor commission is calculated from the final premium.

6. Select Limits, Deductibles, and Insuring Conditions: All limits, deductibles, and insuring conditions are selected according to the appropriate settings.

7. Quote Validations: Checks any quote validation rules to determine if the quote itself is valid.

8. Referral and Compliance Validations: Checks any validation rules that may require the submission to go into referral.

9. Calculated Fields: All calculated fields in the submission are recalculated.

This list should be used to ensure that no validations, conditions, triggers, or calculations depend on values that are only updated later in the sequence. In such an event, old data may be used and the quote could contain invalid information.


15Index

General Information

The General Information page contains general settings for submissions and policies, as well as for the master cover itself. The controls for setting the master cover to Draft, Test, or Live, copying the master cover, or generating a master cover report are also included here. This page is presented when creating a new master cover, and is the first page shown when opening an existing master cover.

For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.

Product Select the insurance product to be associated with this master cover.

Name Enter the name of the master cover. This is displayed in the master covers list. If a custom Product Description is not defined, this name is also used in the product listing when creating new submissions.

Code A code can be entered to map to an external system.


16Index

External Code This field is used for integration between the Bridge and Genoa systems. This code should match the Client Code field in the related product in Genoa.The code should not include spaces. Any spaces are removed when the field is saved.

Description A description of the master cover can be entered for reference purposes.

Sequence in New Submission Screen

Sequence numbers can be assigned to master covers to control their order in the product selection screen.

Underwriting Year Enter the underwriting year of the master cover.

Status Displays the current status of the master cover.

Draft This is the starting status for new master covers. All settings can be changed, but submissions cannot be created.

Test In test mode, all settings can be changed, and test submissions can be created to verify the settings and functionality of the workflow. All submissions created in test mode (as well as any clients created with those submissions) are deleted when the master cover is set to Live.

Live When set to live, most settings in the master cover are locked. The master cover is ready for business.

Owner's Name Identifies the company defined as the owner of the master cover.

Effective Date Enter the effective period of the master cover, or select the dates from the calendar lookups . When a start date is entered or selected, the end date is automatically defaulted to one year later (minus one day), but can be changed.

Display Valid Until Date With Same Day & Month as Effective

This option adds a day to the default Valid Until date when creating submissions and renewals, and causes renewals to start on the last day of the previous term instead of the following day.

This setting does not affect internal calculations such as prorating, but could affect comparative date


17Index

Date calculations that use the Valid Until date.

This feature is often used in conjunction with the Policy Start Time setting below.

See Appendix D - Setting Time of Day for Policy Terms for more information on configuring this feature.

Note: Only the default Valid Until date is adjusted by this feature. If the Valid Until date is changed manually, this setting must be taken into account, as any renewals still start on the same day due to this option.

Policy Start Time By default, the time for the Effective Date and Valid Until date fields (the "effective period") in a submission or policy is set to midnight (12:00 AM, not shown in the submission/policy form). When the Display Valid Until Date With Same Day & Month as Effective Date option is checked, the effective period can be set to begin and end at a specific time of day (to the hour). If the Display Valid Until Date With Same Day & Month as Effective Date option is not checked, the Policy Start Time is always set to midnight.

When set to 12:00 AM, the effective period includes the full first day, and may or may not include the full last day of the period, depending on the Display Valid Until Date With Same Day & Month as Effective Date setting.

When set to any other time, the effective period is from the selected time of the first day, to the selected time of the last day.

This feature requires the Display Valid Until Date With Same Day & Month as Effective Date setting above to be checked. Otherwise the time is defaulted to 12:00 AM, regardless of the selected time.

See Appendix D - Setting Time of Day for Policy Terms for more information on configuring this feature.

Currency List Select the list of currencies to be available for this master cover.


18Index

Premium Currency Once the Currency List has been defined, select one of the available currencies to be used for premium calculations.

Submission/Policy Screen Select the workflow to be used for this master cover. The workflow defines the layout of the entire submission process.

Tip: Changing a workflow after attaching items linked to the existing workflow could cause those linked items to stop functioning. After changing a workflow, check the rest of the master cover settings to ensure that all features are complete.

The Bridge system supports integration with some external systems. The master cover can be mapped to those systems in this panel.

External Rating Engine An external rating engine can be selected.

External Referral Engine An external referral engine can be selected.


19Index

Premiums, commissions, and other calculated values are generally rounded off when displayed on the screen. The Rounding Configuration panel is used to set how rounding is performed.

Rounding Precision Select what digit the numbers should be rounded off to.

0.01 To be rounded to the cent.0.1 To be rounded to the next 10 cents.1 To be rounded to the next dollar.10 To be rounded to the next ten dollars.100 To be rounded to the next hundred dollars.1000 To be rounded to the next thousand dollars.

Rounding Style Select how the rounding is performed.

Half Up The value 23.5 gets rounded to 24, but −23.5 gets rounded to −23.Half Away From Zero The value 23.5 gets rounded to 24, and −23.5 gets rounded to −24.Half To Even The value 23.5 gets rounded to 24, 22.5 gets rounded to 22, −22.5 gets rounded to −22, and

−23.5 gets rounded to −24.Always Up The value 2.1 gets rounded to 3, and -2.9 gets rounded to -2.Always Down The value 2.9 gets rounded to 2, and -2.1 gets rounded to -3.

When a user creates a submission, they have the option to select or create a client. The Supported Clients panel defines what clients can be selected or created.

Type Clients can be companies or individuals, depending on the nature of the product. Select Individual or Company to only permit that type of client, or select All to allow either type.

Countries If the product is only meant to be available for certain regions, a list of countries can be selected. Only clients from the listed countries can be selected, or when creating a new client, only the listed countries are available.


20Index

The Status panel is available once the master cover has been saved.

Active Marks the master cover as active and available for use. If unchecked, the master cover remains linked to any existing submissions, policies, and resources, but cannot be used for new submissions.

Created By Identifies the date and time the master cover was created, and the user who created it.

Last Modified By Identifies the last date and time the master cover was changed, and the user who made the changes.

Click Save to save the master cover but remain on the page, click Save & Close to save the master cover and return to the master cover list, or click Close to return to the master cover list without saving the master cover.

Click Copy to make a copy of the master cover. See the section on Copying a Master Cover for details and notes about copying.

Click Set Draft, Set Test, or Set Live to control the status of the master cover. See the section on Setting Master Cover Status for details.

Click Master Cover Report to generate a report containing details of the master cover and settings. See the section on Generating a Master Cover Report for details.


21Index

Product Description

The Product Description page is used to define the master cover's entry in the product selection page. Rich text and images can be used to provide users with marketing information and instructions to assist them in selecting a product.If no content is included for the master cover, the product selection page displays the Name and Description entered in the General Information page.

With the master cover selected, click the Product Description item in the Screens widget. For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.

Product Identifies the product associated with the master cover.

Status Identifies the current status of the master cover.


22Index

The product description can be built directly in the editor window using a variety of common editing tools presented in the toolbar, or it can be pasted in as text or rich text.

Tip: Text pasted into the editor may undergo some minor formatting changes. The formatting tools can be used to correct the differences.

To add images to the page:1. Click the Browse button to open a standard file selection window.2. The system supports image files of GIF, JPG, PNG, and BMP formats. Select the file to be included and click Open. The

full path and filename is displayed in the Image File field.3. Click Insert Image to add the image at the end of the current content.4. The image can then be moved by clicking on it with the mouse and dragging it to the appropriate location in the content.

The system does not limit the dimensions or file size of the image, however very large files take longer to load each time a user accesses the page.


23Index

The width of the display area on the products page varies according to the size of the browser window, occupying almost 60% of the window. Text wraps to the next line, however any images exceeding this space are cut off. The vertical space is unlimited, with the page expanding to fit the content.

Tip: Using drag-and-drop or copy and paste to insert images may cause those images to be broken for some users. The Insert Image button should be used to add all image files.

The content can be saved at any time by clicking Save.


24Index

Policy Numbering

The Policy Numbering configuration allows detailed policy identification numbers to be produced from a mix of static components, automatic counters, and fields from the submission workflow. The system can be used to generate policy numbers that match existing and new numbering procedures within your organization.

With the master cover selected, click the Policy Numbering item in the Screens widget. For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.



Select the Source of the policy numbers.

Automatic

When a policy is bound, policy number is generated sequentially by the system. This can be configured with optional settings for prefixes, suffixes, and separators.

Manual On bind, the entire policy number is taken from a field in the submission workflow.


25Index

The Manual Policy Number panel is available when Manual is selected as the Source.Field Select the field from the workflow that contains the policy number. Only fields that can logically contain a single

suitable value are available. Calculated fields are permitted.

The Prefix panel is available when Automatic is selected as the Source. The Prefix begins every policy number under this master cover.

Source Determines what type of prefix is applied. Static Text The prefix is a string of text entered into the field below. From a Field The prefix is taken from a field in the submission workflow.

Static Text This field is available when Static Text is selected as the Source. Enter the prefix text.Field This field is available when From a Field is selected as the Source. Select the field from the

workflow that contains the prefix text. Only fields that can logically contain a single suitable value are available. Calculated fields are permitted.

Separator Select a character to be inserted between the prefix and the sequence number, or select None to not include a separator.

Policy Renewal Select how the policy numbering is to be handled for renewals. Copy from

Previous TermUses the same prefix from the previous term policy number.

Generate New A new prefix is generated using the settings in this panel.


26Index

Tip: To leave out the prefix entirely, select Static Text as the Source and leave the Static Text field blank. Without a prefix, the Separator is also left out. (These are the default settings)

The Sequence panel is available when Automatic is selected as the Source. The Sequence number is used in each bound policy number, automatically incremented by 1 for each policy.

Next Sequence Number

Enter the number to be assigned to the next live policy bound under this master cover. The number is incremented with each bound policy, and this field is automatically updated to show the next number to be assigned.

Note: The Next Sequence Number is only used when the master cover is in Live mode. When the master cover is in Test mode, any bound submissions use an internal sequential number. Any defined prefixes, suffixes, or zero padding are applied to this internal number.

Zero Padding Adds leading zeros to the sequence number to bring it to a set length. If unchecked, the entire policy number will gradually increase in length as more policies are booked.

Length of Sequence Number

This field is available when Zero Padding is checked. Enter the required length of the sequence number. Leading zeros are added to the sequence number to bring it to this length. The minimum length is 2, and the maximum length is 20.

Note: The Sequence Number does not reset to zero when the selected length reaches its maximum value. The length is extended to continue counting in sequence.For example, if Zero Padding is checked and the Length of Sequence Number is set to 6, the thousandth policy is numbered 001000.Once the 999999th policy has been bound, the next policy increases the length to 7 with policy number


27Index

1000000.

Policy Renewal Select how the policy numbering is to be handled for renewals. Copy from

Previous TermUses the same number from the previous term policy number.

Generate New A new sequence number is generated using the settings in this panel.Trigger A trigger can be selected to control the sequence number. If the trigger evaluates as true, the number

is generated using the settings in this panel. If the trigger evaluates as false, the number is omitted completely.This applies to New Business and Renewal transactions. However, if the Policy Renewal option above is set to Copy from Previous Term, the sequence number (or lack thereof) is copied without evaluating the trigger.

The Suffix panel is available when Automatic is selected as the Source. The Suffix ends every policy number under this master cover.

Source Determines what type of suffix is applied.

Static Text The suffix is a string of text entered into the field below.

From a Field The suffix is taken from a field in the submission workflow.

Static Text This field is available when Static Text is selected as the Source. Enter the suffix text.

Field This field is available when From a Field is selected as the Source. Select the field from the workflow that contains the suffix text. Only fields that can logically contain a single suitable value are available. Calculated fields are permitted.

Separator Select a character to be inserted between the suffix and the sequence number, or select None to not


28Index

include a separator.

Policy Renewal Select how the policy numbering is to be handled for renewals.

Copy from Previous Term

Uses the same suffix from the previous term policy number.

Generate New A new suffix is generated using the settings in this panel.

Tip: To leave out the suffix entirely, select Static Text as the Source and leave the Static Text field blank. Without a suffix, the Separator is also left out. (These are the default settings)

Examples:With the prefix set as "Pr" (a code for the product), the prefix separator set to "-", the sequence number set as 2507 (picking up from previous business), the suffix set as "SA" (regional notation for South America), and the suffix separator set to "/", the next three bound policies will have the following policy numbers.

Pr-2507/SAPr-2508/SAPr-2509/SA

With the prefix set as "Bnd" (an abbreviation of "bound"), no prefix separator, the sequence number set as 1 (starting a new line) with leading zeros up to seven digits, and no suffix or separator, the next three bound policies will have the following policy numbers.

Bnd0000001Bnd0000002Bnd0000003

With the prefix pulling from a calculated field that identifies the current month and year at the time the policy is bound, the prefix separator set to "-", the sequence number set to 101 with no zero padding, and no suffix or separator, the next three bound policies could have the following policy numbers.

Jan2003-101Feb2003-102Apr2004-103


29Index

! Warning: If any policies have been bound under the current master cover, care should be taken when changing the Policy Renewal settings. If all three options have the same setting, either Copy from Previous Term or Generate New, there are no problems with new policies. If the settings are mixed, all existing policy numbers must be upgraded. Please contact your Oceanwide Representative for more information on upgrading existing data.


30Index

Policy Settings

The Policy Settings page is used to define rules and configuration settings for the generation of submissions and policies.

With the master cover selected, click the Policy Settings item in the Screens widget. For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.



The Types panel defines a variety of lists used throughout the submission process.

Attachments When attaching files to a submission or policy, the user can select the type of attachment. This list provides the available options.

Notes & Follow Ups When creating notes and follow ups, the user can select the type of note. This list provides the available options.


31Index

Limits This list defines the available choices when adding and configuring limits.Deductibles This list defines the available choices when adding and configuring deductibles.Lost Quotes When a user marks a quote as lost, they must select a reason why the quote was lost. This list

provides the available options.Reinstatement Reasons

When a user reinstates a cancelled policy, they must select a reason why the policy is being reinstated. This list provides the available options.


32Index

The effective coverage period is the period between the Effective Date and the Valid Until date. The Effective Coverage Period Settings control the rules for how the period is determined.

Allow Backdating Tolerance

When this option is unchecked, users are only able to enter an Effective Date equal to the current date or later. When checked, the users can select a date earlier than the current date, up to the limit set in the Backdating Tolerance field (below).


33Index

Backdating Tolerance Determines the number of days prior to the current date that can be entered into the Effective Date field. This field is only active when Allow Backdating Tolerance is checked.

Set ... Effective Date to This setting exists for New Business, Endorsement, and Adjustment transactions. The Effective Date of a new transaction can be set to a date from a selected source. The Effective Date field is then locked and cannot be changed.

Default This option will not affect the Effective Date. Field Value On creating a new transaction of the appropriate type, the date is copied from a field in the

transaction. The Effective Date field can no longer be edited, however any changes to the source field will change the Effective Date on recalculating the quote.The Select Field dropdown is added to the panel on choosing this option. Select a date field from the workflow.

First of Next Month On creating a new transaction of the appropriate type, the Effective Date is set to the first day of the following month.

Term Effective Date On creating a new transaction of the appropriate type, the Effective Date is set to the same date as the beginning of the current term. This option is not available for New Business transactions.

Set ... Valid Until Date to This setting exists for New Business, Endorsement, Adjustment, and Renewal transactions. The Valid Until date of a new transaction can be set to a date from a selected source. The Valid Until date field is then locked and cannot be changed.

Default This option will not affect the Valid Until date. Field Value On creating a new transaction of the appropriate type, the date is copied from a field in the

transaction. The Valid Until date field can no longer be edited, however any changes to the source field will change the Valid Until date on recalculating the quote.The Select Field dropdown is added to the panel on choosing this option. Select a date field from the workflow.

Lock Valid Until Date Field

When a new submission is created, the Valid Until date field is set to a calculated default date based on master cover settings, and cannot be changed.

Hide Valid Until Date Field

Hides the Valid Until field. The valid until date is still determined according to selected default settings, but the field is not shown.

Enforce Minimum Term Duration

Requires the effective coverage period to be equal or greater than the number of days entered in the Minimum Duration field (below).

Minimum Duration Determines the minimum number of days for the effective coverage period. This field is only active when Enforce Minimum Term Duration is checked.

Enforce Maximum Term Requires the effective coverage period to be equal or less than the number of days entered in


34Index

Duration the Maximum Duration field (below).Maximum Duration Determines the maximum number of days for the effective coverage period. This field is only

active when Enforce Maximum Term Duration is checked.

Depending on your business needs, you may want to hide the Effective Date and Valid Until date fields in the Policy Information widget and detail window. This is common when using a fixed policy term, but could also be necessary for various other reasons. The Hide Effective Coverage Period Panel feature allows the fields to be hidden based on any combination of transaction type, transaction status, and the security roles assigned to the user.

Notes: The fields are only hidden if the transaction and user match at least one selected option in each group. At least one option must be selected in each group or the fields are never hidden.


35Index

If the fields are hidden, and the user does not have the necessary security role to view the other details in the Policy Information widget, the entire widget is hidden.

Policy Transaction Types Select the transaction types for which the panel should be hidden.

Policy Transaction Statuses Select the transaction statuses for which the panel should be hidden.

Security Roles Select the user security roles for which the panel should be hidden.

Insured Value Field One field can be defined as containing the insured value of the policy. The drop down lists all fields in the attached workflow that have been set as Rate Driver fields. The selected field is available for reports, identified as the insured value.

Allow Special Quote Requests Once a quote has been issued on a transaction, either automatically or manually, this option allows users to submit a special request for a new quote.

Bypass Quote Validations on Issue Quote

Allows users with the appropriate rights to issue a quote where certain settings or values would normally be rejected by the Quote Validation rules.

Set Transaction Status to Incomplete if Quoted

If checked, any changes to a transaction in Quoted or Underwriting Required status will cause it to revert to Incomplete status on saving, instead of recalculating the quote. The


36Index

Submission is Modified transaction can then be re-quoted, either manually or automatically.

Allow Out of Sequence Endorsements

Allows endorsements to be created with effective dates that are earlier than other bound endorsements, and valid until dates before the end of the term.If unchecked, new endorsements can only start on the same or later date than any other bound endorsement, and the valid until date must equal the end of the term or later.

Restrict Endorsements to Last Policy Transaction

Only allows endorsements to be created from the most recent transaction per policy term. The transaction must be Bound to allow endorsement. If the transaction is Declined, the next most recent transaction is enabled for endorsement.

Allow Adjustments Allows Adjustment transactions to be created. Adjustments are used to make changes to the policy coverage for a specific period within the term.

Allow Declarations Allows Declaration transactions to be created. Declarations are used to provide required coverage information on a regular basis.Enabling declarations causes monthly periods to be automatically defined on binding a new business or renewal transaction. An endorsement that extends the term may also generate additional periods. The periods will include the first month of the term (including a partial month) to the last full month of the term. If the term ends partway through a month, that last month will be covered in the renewal.

Allow Insurers to Edit Clients Allows users from underwriter companies to edit the client information in submissions attached to this master cover (if they have the necessary security roles). If unchecked, the underwriters are not allowed to edit the client details.


37Index

Select Action(s) For Notes Confirmation to Appear

When the user takes certain actions within the system, they may be given the opportunity to enter a note associated with the action. Check the boxes for all actions where the notes option should be available. The user always has the option to proceed without submitting a note.

The Premium Type - Rating Basis panel defines the driver fields containing the rating basis for each premium type. This is used to calculate the technical rate.

All premium types available for the current master cover are listed. Any field set as a Rate Driver from the attached workflow can be assigned to any premium type. The content of the fields could be entered directly by the user, or could be a calculated field deriving the value from a variety of data.

Individual premium types can be excluded from the prorating and adjustment calculations.

Bypass Prorating for the Following Premium Types

Check all premium types that should not be prorated when performing calculations. The selected premium types are always calculated according to a period of one full year.

Bypass Adjustments for the Following Premium Types

Check all premium types that should not be adjusted when performing calculations on endorsements. The selected premium types are not modified by other transactions.

See Appendix B - Prorating and Adjustments for more information.


38Index

To assist with locating transactions in the Submission / Policy List, fields from the attached workflow can be made available as optional columns.

Text Three columns can be added for text content. This can be used for Drop-down, Label, Radio Buttons, Text Area, Textbox, and Textbox (email) type fields. For Drop-down and Radio Button fields, the code for the selected item is displayed.

Decimal Three columns can be added for decimal values. The three options are set to display a different number of decimal points, 2, 4, and 8. Any digits after the selected number of decimal points are cut off, not rounded, but this is only for display and does not affect the stored value.

Integer Three columns can be added for integer values.

Date Three columns can be added for dates.


39Index

These optional columns are available in the Submission /Policy List, and can be added to the grid using the Select Columns option in the context menu accessed by right-clicking a column header. More information about customizing grids and saving the settings is available in the Bridge User Guide - Introduction.

Notes: The labels for the dropdown fields in this panel are used as the column headers. The labels can be changed in the Custom Labels section, detailed in the Bridge User Guide - Reference and Administration.

Only form fields are available. Fields included in grids are not available.

When these settings are changed, only new submissions will display the optional fields. When the master cover is set to Live status, all existing submissions and policies are updated to display the appropriate data in the new columns.

Click Save to save the current settings.


40Index

Automatic Processing

The Automatic Processing page is used to define rules and configuration settings for automatic features within the system. Each night, an automated process scans the system for submissions and policies that meet the set requirements.

With the master cover selected, click the Automatic Processing item in the Screens widget. For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.



The Automatic Renewals panel is used to configure the automatic renewal of policy terms that are about to expire.

Enable Automatic Renewals

This checkbox enables the feature with the settings below. If unchecked, no automated renewals are performed for policies under this master cover.


41Index

Number of Days Before Expiry

Enter the number of days before the end of the term that the renewal should be initiated. When the system scans for renewable terms, it checks that the current date is within the chosen number of days before the term ends. If 0 is entered, the renewal occurs on the last day of the term.

Trigger A trigger can be selected to control if a term should be renewed. If the trigger evaluates as false, the term is not renewed automatically. The term can still be renewed manually.

Calculate Quote for Automatic Renewals

If checked, the system initiates the Get Quote process for the renewal. If the renewal meets the terms of the master cover, it enters Quoted status. If any referrals or compliance issues occur, the renewal goes to Underwriting Required status. If unchecked, the renewal stops at Incomplete status to be completed manually.

Click Renew Now to begin the automatic renewal of any terms that may already be within the renewal period.

The Automatic Quote Expiry (Lost Quotes) panel is used to configure the automatic expiry of quotes after a certain period has elapsed. The quotes are marked as Lost, with the reason defined in these settings.

Entering 1 or more days causes the quote to expire that number of days after the quote is issued, at the end of the day. Entering 0 days causes the quote to expire at the end of the same day the quote was issued. If any field is left blank, quotes for that transaction type do not expire.

New Business Quote Validity Period Enter the number of days a quote for New Business remains valid.

Endorsement Quote Validity Period Enter the number of days a quote for an Endorsement remains valid.


42Index

Adjustment Quote Validity Period Enter the number of days a quote for an Adjustment remains valid.

Renewal Quote Validity Period Enter the number of days a quote for a Renewal remains valid.

Lost Quote Reason for Automatic Quote Expiry

Select a reason to be applied to each lost quote. The options are defined by the Lost Quotes list selected in the Policy Settings page.

Trigger A trigger can be selected to control if a quote should expire. If the trigger evaluates as false, the quote does not expire. The quote can still be set as Lost manually.



43Index

Quote Groups

Quote Groups allow related quote options to be presented together, or even filtered so that only the lowest quote within the group is displayed. Combined with sequence numbers, groups provide a significant amount of control over the order of quotes presented to the user.

Creating a New Quote Group

With the master cover selected, click the Quote Groups item in the Screens widget. For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.



The Quote Groups panel displays all groups defined for the current master cover.

1. Click Create. The Master Cover - Quote Group page opens.


44Index




Name Enter the name of the quote group.

Code The code is automatically generated when the quote group is saved.

Description Enter a description for the quote group.

Hide Highest Quotes

When this option is checked, only the valid quote with the lowest calculated premium within the group is displayed (if two quotes have the same lowest premium, they are both displayed). Any other valid quotes are hidden, and can only be seen by a user with the right to view hidden quotes. Any quotes that are not valid, such as referred quotes, are only visible to users with specific administrative rights.If unchecked, all quotes in the group are displayed for appropriate users, according to the quote status.

Sequence Enter a sequence number to control the order in which the groups and quotes are displayed in the Quote Summary window. Quotes without groups are displayed first, followed by groups without


45Index

sequence numbers, then numbered groups in ascending order.

Tip: It is advisable to leave gaps between the sequence numbers, such as 5, 10, 15. This allows new items to be added to the list at a later date, inserted between existing items. Otherwise, the sequence numbers of existing items must be changed to allow for the new addition.

3. Click Add to save the group but remain on the page, click Add & Close to save the group and return to the quote groups list, or click Close to return to the quote groups list without saving the group.

Viewing and Modifying a Quote Group

With the master cover selected, click the Quote Groups item in the Screens widget. For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.




46Index

The Quote Groups panel displays all groups defined for the current master cover.

1. Click a link in the Name column to view the group details.

2. See the section on Creating a New Quote Group for a detailed description of the fields. All fields may be edited, if necessary, except for the Code field.

3. Click Save to save any changes and remain on the page, click Save & Close to save and return to the quote groups list, or click Close to return to the quote groups list without saving any changes.


47Index

Quote Options

A single master cover can generate multiple quotes with entirely different settings for Insurers, Rates, Insuring Conditions, Limits, and Deductibles. When quotes are calculated for a submission, all configurations are calculated and the valid quotes are presented to the user. The user can select a quote and either bind the policy or request that the policy be bound.

If only one quote option is defined ("Default Quote Option" may already exist), the system automatically uses that option.

Adding a Quote Option

With the master cover selected, click the Quote Options item in the Screens widget. For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.



The Quote Options panel displays all options defined for the current master cover.


48Index

1. Click Create. The Master Cover - Quote Option page opens.




Name Enter the name of the quote option.

Code The code is automatically generated when the quote option is saved.

Description Enter a description for the quote option.

Quote Group A Quote Group can be selected, but is not required. Selecting a group allows related quotes to be displayed together in the Quote Summary window, and can even be filtered to only display the lowest quote in the group.

Sequence Enter a sequence number to control the order in which the quotes are displayed in the Quote Summary window. Quotes without a sequence number are displayed first, following by numbered quotes in ascending order. If two or more quotes have the same sequence number (or no sequence


49Index

number), those quotes are sorted from lowest calculated premium to highest. If quotes are included in a Group, the sequence applies within the group.


3. Click Add to save the option. The Image panel opens.

The Image panel allows an image file to be uploaded for each quote option. The image serves as the identification for each quote, so suitable images should be provided for all quotes.

Click Browse to open a standard file selection box. Locate and select the file, and the full path and filename appears in the Image File field.

Click Save Image to upload the file. A preview of the image is shown. Click Delete Image to delete the currently attached image.

Notes: The display area for the image is 90 pixels wide and 60 pixels high. Images smaller than this area are centered along the top. Images larger than this area are scaled down to fit.

For the best quality, the image should be scaled down using image editing tools before being uploaded.

If the preview does not appear after clicking Save Image, check that the uploaded file is a valid image file.

4. Click Save to save the option but remain on the page, click Save & Close to save the option and return to the quote options list, or click Close to return to the quote options list without saving the option.


50Index

Viewing and Modifying a Quote Option

Note: Once the master cover has been set to Live and a submission has been created, the existing selection of quote options should not be modified. New quote options can be added instead of altering the existing ones.

With the master cover selected, click the Quote Options item in the Screens widget. For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.



The Quote Options panel displays all options defined for the current master cover.

1. Click a link in the Name column to view the option details.


51Index

2. See the section on Adding a Quote Option for a detailed description of the fields. All fields may be edited, if necessary, except for the Code field.

3. Save to save any changes and remain on the page, click Save & Close to save and return to the quote options list, or click Close to return to the quote options list without saving any changes.


52Index

Insurers

The Insurers page is used to add or remove various Insurance companies that serve as underwriters for the insurance product.

Whenever the system calculates the quote within a workflow, or when a user manually issues a quote, the system checks the insurer list in sequence and select the first insurer whose trigger evaluates as true (if no trigger is assigned, it counts as true). Each time a quote is generated like this, the system evaluates the triggers again and possibly assigns a new insurer. Once a policy is bound, the selected insurer remains attached to that policy for the full term, including endorsements and reinstatements. The quote calculation itself has a specific sequence of events that may affect insurer selection, click here for details.

While only the first insurer whose trigger evaluates as true is attached to the submission, all insurers whose triggers evaluate as true (or who have no trigger) have access to the submission or policy. All users under those insurer companies have access, within the limits of their rights and administrative level. If the quote is recalculated again, all triggers are re-evaluated and all access is reset according to the new results of the triggers.

Adding an Insurer

With the master cover selected, click the Insurers item in the Screens widget. For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.




53Index

Select a Quote Option to view the insurers defined for that option.

The Insurers panel displays all insurers under the selected Quote Option.

1. Click Create. The Master Cover - Insurers page opens.





54Index

Name Select the insurer from the list of available options.

Insurer Code A code can be entered to identify this insurer.

Security Role A security role can be selected for information purposes. This does not affect the system.

Insurer Type An insurer type can be assigned for information purposes.

Reference A code can be entered to identify this insurer.

Risk Enter the amount of risk, in percentage, assigned to this insurer.

Trigger A trigger can be selected to determine if this insurer is assigned to a submission. Not including a trigger counts as a true result, causing the insurer to be automatically selected if no other insurer is selected first.

Sequence Enter a Sequence number. When selecting an insurer for a submission, the system checks each insurer in sequence order, from lowest to highest value. The first insurer whose Trigger evaluates as true (or who does not have a trigger) is selected.


55Index

Tip: It is advisable to leave gaps between the sequence numbers, such as 5, 10, 15. This allows new insurers to be added to the list at a later date, inserted between existing insurers. Otherwise, the sequence numbers of existing insurers must be changed to allow for the new addition.

3. Click Add to save the insurer setup but remain on the page, click Add & Close to save the insurer setup and return to the insurers list, or click Close to return to the insurers list without saving the insurer setup.

Tip: If none of the triggers evaluate as true and there are no insurers without triggers, no insurer is attached to the submission. This results in a validation error when attempting to bind the policy. For this reason we recommend that the last insurer in the list (with the highest Sequence number) be a 'default' insurer with no trigger. This ensures that an insurer is attached to all submissions.

4. Additional insurers can be added to the same Quote Option, or a different Quote Option can be selected.

Viewing and Modifying an Insurer





56Index


The Insurers panel displays all insurers currently attached to the master cover.

1. Click a link in the Company column to view the insurer details.

2. See the section on Adding an Insurer for a detailed description of the fields. All fields may be edited, if necessary, except for the Name field.

3. Click Save to save any changes and remain on the page, click Save & Close to save and return to the insurers list, or click Close to return to the insurers list without saving any changes.

Removing an Insurer

A insurer can be removed from the master cover. This leaves the insurer attached to existing submissions and policies, but unavailable for new submissions.



57Index




The Insurers panel displays all insurers currently attached to the master cover.

1. Click a link in the Company column to view the insurer details.

2. Click Delete, then confirm the deletion when prompted to do so.


58Index


59Index

Distributors

Multiple distributors can be attached to a master cover. One distributor is attached to each submission when it is created.

Commissions can be assigned to each distributor for each premium type used in the master cover.

Adding a Distributor

With the master cover selected, click the Distributors item in the Screens widget. For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.



The Distributors panel displays all distributors currently attached to the master cover.


60Index

1. Click Create. The Master Cover - Distributors page opens.




Name Select the distributor from the list of available options.Distributor Code Enter a code that can be used to identify this distributor. If the distributor code was included in the

distributor company setup, it is automatically entered here.Security Role A security role can be selected for information purposes. This does not affect the system.Reference Enter a value that can be used to identify this distributor.


61Index

The Commission panel provides options to define the commission for this distributor. The commission can be a set value, or can be taken from the submission form itself. All settings in this panel can be overridden per premium type in the next panel.

Default Commission Enter the commission, in percentage, to be used when a custom commission has not been defined. If the default commission was included in the distributor company setup, it is automatically entered here.

Trigger Select a trigger to determine if the system should use the Default Commission or the Default Commission Field Override. If the trigger evaluates as false, the Default Commission is used. If the trigger evaluates as true, the Default Commission Field Override is used.If no trigger is selected, the Default Commission Field Override (if selected) is always used.

Default Commission Field Override

Select a field from the attached workflow to provide the commission amount. The field can be a calculated field, or can take direct input from the user.If the selected field is left blank in the submission form, either by the calculation or by the user, it is considered to be a zero value.If no override field is selected in this panel, the Default Commission is used.

This panel displays all premium types connected to the same product and line of business as the master cover, plus those set as All. Custom commission percentages can be defined for any of the premium types, which override both the Default Commission and any Default Commission Field Override. If a custom commission is not defined, the Default Commission or the Default Commission Field Override is used for that premium type.


62Index

3. Click Add to save the distributor setup but remain on the page, click Add & Close to save the distributor setup and return to the distributors list, or click Close to return to the distributors list without saving the distributor setup.


63Index

Viewing and Modifying a Distributor





1. Click a link in the Name column to view the distributor details.

2. See the section on Adding a Distributor for a detailed description of the fields. All fields may be edited, if necessary, except for the Name field.


64Index

3. Click Save to save any changes and remain on the page, click Save & Close to save and return to the distributors list, or click Close to return to the distributors list without saving any changes.

Removing a Distributor

A distributor can be removed from the master cover. This leaves the distributor attached to existing submissions and policies, but unavailable for new submissions.






65Index

1. Click a link in the Name column to view the distributor details.



66Index

E-mail Configurations

Each master cover can have a customized library of e-mails. These e-mails can be sent automatically in response to actions taken by the users, or can be made available within the submission/policy form for users to send manually.

All e-mails are logged within the submission or policy for reference.

Creating an Automatic E-mail Configuration

Automatic e-mails are sent by the system when selected workflow events occur, unless an optional trigger condition is not met.

With the master cover selected, click the E-mail Configurations item in the Screens widget. For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.




67Index

The E-mail Configurations panel displays all configurations currently attached to the master cover.

Tip: By default, only Active configurations are displayed. Clear the filter in the Status column to view all configurations.

1. Click Create Automatic E-mail Configuration. The Master Cover - E-mail Configurations page opens.





68Index

Name Enter the name of the e-mail. This name is used in the E-mail Configurations list.

Description A description can be entered to provide information about the e-mail. This description is only visible here in the configuration.

Type Identifies whether the current e-mail configuration is for an automatic or manual e-mail.

E-mail Template Select a template for the subject line and body of the e-mail.

E-mail Address If the e-mail should appear to be from a specific sending address, enter that address here. Any replies will be sent to this address. If no address is provided, the system uses the default e-mail address configured by the System Administrator.


69Index

Users Select the default users to receive the e-mail.

Include Submission Creator

Check this box to send the e-mail to the user who created the submission or policy.

Include Client Check this box to send the e-mail to the client attached to the submission or policy. The e-mail is sent to the designated primary contact for the company. If no primary contact has been designated, the e-mail is sent to the first user created for the company.

Include Distributor Check this box to send the e-mail to the distributor attached to the submission or policy. The e-mail is sent to the designated primary contact for the company. If no primary contact has been designated, the e-mail is sent to the first user created for the company.

Documents can be automatically generated and attached to e-mails.


70Index

Documents Select any documents to be included in the e-mail. Only documents set to be auto-generated are available.

The Send Criteria panel defines when the automated e-mail should be sent.

Workflow Event Select one or more workflow events where the e-mail should be sent.For details on the event types, please see Appendix A - Workflow Event Types.

Trigger A trigger can be defined to control if the e-mail is sent or not. If the trigger does not evaluate as true, the e-mail is not sent.

3. Click Add to save the settings but remain on the page, click Add & Close to save the settings and return to the e-mail configurations list, or click Close to return to the e-mail configurations list without saving the settings.

Creating a Manual E-mail Configuration

Manual e-mails are available to users in the submission/policy form, and can be sent whenever necessary.



71Index





1. Click Create Manual E-mail Configuration. The Master Cover - E-mail Configurations page opens.


72Index




Name Enter the name of the e-mail. This name is used in the E-mail Configurations list, as well as in the E-mail Templates dropdown on the submission/policy form.

Description A description can be entered to provide information about the e-mail. This description is only visible here in the configuration.

Type Identifies whether the current e-mail configuration is for an automatic or manual e-mail.


73Index

E-mail Template Select a template for the subject line and body of the e-mail.

Allow Manual Override

When checked, this option allows the user to edit the subject line and body text of the e-mail before sending. If unchecked, the subject and body appear as they will be sent, and cannot be changed.

E-mail Address If the e-mail should appear to be from a specific sending address, enter that address here. Any replies will be sent to this address. If no address is provided, the system uses the default e-mail address configured by the System Administrator.

Users Select the default users to receive the e-mail.

Include Submission Creator

Check this box to send the e-mail to the user who created the submission or policy.

Include Client Check this box to send the e-mail to the client attached to the submission or policy. The e-mail is sent to the designated primary contact for the company. If no primary contact has been


74Index

designated, the e-mail is sent to the first user created for the company.

Include Distributor Check this box to send the e-mail to the distributor attached to the submission or policy. The e-mail is sent to the designated primary contact for the company. If no primary contact has been designated, the e-mail is sent to the first user created for the company.

Allow Manual Override

When checked, this option allows the user to edit the Users list, as well as the checkboxes for Include Submission Creator, Include Client, and Include Distributor before sending the e-mail. The user is also able to manually add additional e-mail addresses to the Additional To, Cc, and Bcc fields. If unchecked, the selected recipients are displayed, but cannot be edited.

Note: Individual e-mails are sent to all recipients, including any addresses the user may add in the Additional To field at the time the email is sent. If the user adds any addresses to the Cc or Bcc fields, those addresses are added to each individual e-mail sent to the recipients. This can result in Cc or Bcc addressees receiving multiple copies of e-mails.


75Index

The Send Criteria panel defines when the e-mail is available to users in the submission/policy form.

Trigger A trigger can be defined to control if the e-mail is available or not. If the trigger does not evaluate as true, the e-mail template is not shown in the New E-mail window when sending an e-mail.

Policy Transaction Types

Select the transaction types for which the e-mail should be available.

Policy Transaction Statuses

Select the transaction statuses for which the e-mail should be available.

Security Roles Select the user security roles for which the e-mail should be available. Once an e-mail has been sent, a copy is stored in the submission/policy form. The selected security roles also determine if the user can view the stored e-mails.


76Index

Note: The e-mail is only available if the transaction and user match at least one selected option in each group. At least one option must be selected in each group or the e-mail is never shown.

3. Click Add to save the settings but remain on the page, click Add & Close to save the settings and return to the e-mail configurations list, or click Close to return to the e-mail configurations list without saving the settings.

Viewing and Modifying an E-mail Configuration





77Index



1. Click a link in the Name column to view the configuration details.

2. See the sections on Creating an Automatic E-mail Configuration or Creating a Manual E-mail Configuration for detailed descriptions of the fields. All fields may be edited, if necessary.

The Status panel is added once the configuration has been saved.

Active Marks the configuration as active and available for use. If unchecked, any existing e-mails sent with this configuration remain attached to any submissions or policies, but the configuration cannot be used for new e-mails.


78Index

Created By Identifies the date and time the configuration was created, and the user who created it.

Last Modified By Identifies the last date and time the configuration was changed, and the user who made the changes.

3. Click Save to save the settings but remain on the page, click Save & Close to save the settings and return to the e-mail configurations list, or click Close to return to the e-mail configurations list without saving the settings.


79Index

Deactivating an E-mail Configuration







80Index

1. Locate the configuration or configurations to be deactivated. If there are a large number of available configurations, see the section on Using Grids in the User Guide - Introduction document for help on finding the appropriate configurations.

2. Check the boxes for all configurations to be deactivated.

3. Click Deactivate, then confirm the deactivation when prompted to do so. All selected configurations are deactivated. If the configurations list is still defaulted to only show active configurations, they disappear from the list.

Tip: Individual configurations can also be deactivated or reactivated directly through the configuration record. See the section on Viewing and Modifying an Email Configuration for details.


81Index

Documents / Forms

Documentation is an important part of the insurance process. Document templates can be built in Microsoft Word, attached to the master cover, and then generated from within the submission/policy form, manually or automatically.

When the document is generated, placeholders in the template are automatically replaced with the relevant data from the submission or policy. Logic structures can be used to include or exclude content, from individual words to entire sections.

"Associated" documents can be attached to a "Master" document, and are generated at the same time as the master. The master and all associated documents are combined into one output file.

All generated documents are logged within the submission or policy for reference, or draft versions may be generated for review, which are not attached.

Adding a Document or Form

With the master cover selected, click the Documents / Forms item in the Screens widget. For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.




82Index

The Master Document panel displays all documents currently attached to the master cover.

Tip: By default, only Active documents are displayed. Clear the filter in the Status column to view all documents.

1. Click Create. The Master Cover - Documents/Forms page opens.





83Index

Document Name Enter the name of the document. This name is used in the Master Document list, as well as in the New Document window when printing from the submission/policy form.

Document Template Select a template for the document.The template should be created and uploaded to the system before being attached to a master cover. Documents can be uploaded through the Document Templates section of the Product Design menu, or can be quickly uploaded using the Upload Document Template button below.See the Upload Document Template section below for instructions on uploading templates, or refer to the Managing Document Templates section of the Product Design guide for full instructions on managing templates.

Trigger A trigger can be defined to control if the document should be available or not. If the trigger does not evaluate as true, the document is not shown in the New Document window when printing from the submission/policy form.

Description A description can be entered to provide information about the document. This description is only visible here in the configuration.

Effective Period When attaching time-sensitive documents, a date range can be provided. This document is only available during the defined period.


84Index

Automatically Generate Document

When checked, this document is automatically generated and attached to the form when the submission goes into quoted status or the policy is bound, depending on the settings below.Whenever the submission or policy is changed to Quoted or Bound status, the system checks the master cover for any attached documents with this option checked. Each of the documents available for that specific combination of Transaction and Status are generated and attached to the Documents/Forms panel of the submission or policy.The Security Role of the user does not restrict the automatic generation of documents. However, a user is only able to see documents available to their security roles. Any documents the user cannot see are still generated and attached, ready for any other user who views the submission or policy with the necessary roles.Documents that are set for automatic generation can also be attached to automatic e-mails that are being sent at the time of generation. See the E-mail Configurations section for details on attaching automatically generated files.

To upload a document template, click Upload Document Template. The current document configuration is saved (required fields must be completed first) and the Document Template Management page opens. See the Upload Document Template section below.


85Index

The transaction and security role panels define when the document should be available for printing in the submission/policy form. If the document is set to be generated automatically, these settings determine when it is generated.

Policy Transaction Types

Select the transaction types for which the document should be available.

Policy Transaction Statuses

Select the transaction statuses for which the document should be available. Automatic generation of documents only applies to Quoted and Bound statuses.

Security Roles Select the user security roles for which the document should be available. Once a document has been generated, a copy is stored in the submission/policy form. The selected security roles also determine if the user can view the stored documents.


86Index

Note: The document is only available or generated automatically if the transaction and user match at least one selected option in each group. At least one option must be selected in each group or the document is never available.

3. Click Add to save the document but remain on the page, click Add & Close to save the document and return to the Master Document list, or click Close to return to the Master Document list without saving the document.

Click Upload Document Template to upload a document template. The current document configuration is saved (required fields must be completed first) and the Document Template Management page opens. See the Upload Document Template section below.

4. Once a document configuration has been saved, the Associated Document panel becomes available. This allows additional documents to be associated with the master document. These documents will be generated at the same time as the master, and combined with the master into one output file.

Click Add to add documents. The Associated Document window opens.

Document Template Select an available document template.


87Index

Sequence Enter a Sequence number. This will determine the order in which the associated documents will be added to the output file after the master document, with lower numbers appearing first.

Tip: It is advisable to leave gaps between the sequence numbers, such as 5, 10, 15. This allows new items to be added to the list at a later date, inserted between existing items. Otherwise, the sequence numbers of existing items will need to be changed to allow for the new addition.

Trigger A Trigger can be selected to control if the associated document will be included. If the trigger does not evaluate as true, the associated document will not be included in the output file. This will not affect the master document or any other associated documents.

Click Save & New to save the associated document and clear the form to add a new document, click Save & Close to save the document and close the window, or click Close to close the window without saving the document.

Click Delete to remove a saved associated document.

Upload Document Template

A new document template can be quickly uploaded during the process of configuring a document in the master cover. This page is accessed using the Upload Document Template button on the Master Cover - Documents/Forms page.

For detailed instructions on managing document templates, refer to the Managing Document Templates section of the Product Design guide.



88Index

Name Enter the name of the template. This is the internal name, used to select this template in the master cover. This name does not appear on the form itself.

Line of Business Select a Line of Business from the list of industry presets, or select All to make the template available to all lines.

Product Select an available product, or select All to make the template available to all products.

Document to Upload Click the Browse button to open a standard file selection window. Select the file to be attached and click Open. The full path and filename are displayed in the field.

2. Click Add to save the template but remain on the page, click Add & Close to save the template and return to the Master Cover - Documents/Forms page, or click Close to return to the Master Cover - Documents/Forms page without saving the template.


89Index

Viewing and Modifying a Document or Form







90Index

1. Click a link in the Document Name column to view the document details.

2. See the section on Adding a Document or Form for a detailed descriptions of the fields. All fields may be edited, if necessary.To edit or delete an Associated Document, click a link in the Document Template column. Make any necessary changes and click Save & New to save the changes and clear the form to add a new document, click Save & Close to save the changes and close the window, or click Close to close the window without saving the changes.

Click Delete to remove a saved associated document.

The Status panel is added once the document has been saved.

Active Marks the document as active and available for use. If unchecked, any existing documents generated with this configuration remain attached to any submissions or policies, but the configuration cannot be used for new documents.

Created By Identifies the date and time the document was created, and the user who created it.

Last Modified By Identifies the last date and time the document was changed, and the user who made the changes.

3. Click Save to save the document but remain on the page, click Save & Close to save the document and return to the Master Document list, or click Close to return to the Master Document list without saving the document.

Click Upload Document Template to upload a document template. The current document configuration is saved (required fields must be completed first) and the Document Template Management page opens. See the Upload Document Template section above.


91Index

Deactivating a Document or Form







92Index

1. Locate the document or documents to be deactivated. If there are a large number of available documents, see the section on Using Grids in the User Guide - Introduction document for help on finding the appropriate master cover.

2. Check the boxes for all documents to be deactivated.

3. Click Deactivate, then confirm the deactivation when prompted to do so. All selected documents are deactivated. If the documents list is still defaulted to only show active configurations, they disappear from the list.

Tip: Individual documents can also be deactivated or reactivated directly through the configuration record. See the section on Viewing and Modifying a Document or Form for details.


93Index

Rates

Rates are a vital part of any master cover. The Rates section defines a series of premium calculation rules which determine precisely what premiums are applied to a submission when a quote is requested. The quote calculation itself has a specific sequence of events which could affect the calculations, click here for more information.

For additional information on rates, including more examples, see Appendix C - Rates.

Creating a Rate

With the master cover selected, click the Rates item in the Screens widget. For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.



Select a Quote Option to view the rates defined for that option.


94Index

The Rate Configuration panel displays all rates under the selected Quote Option.

1. Click in the field marked Please click here to add new row.

2. Select a Premium Type. All rates and charges for the same premium type are accumulated as calculations are completed.

The premium type must be created before being attached to a master cover. See the Managing Premium Types section of the Product Design guide for instructions on creating premium types.

3. Select a Rate Type to define what type of calculation is to be performed for this entry. All calculations for the same premium type and sequence number are performed in a specific order (see Sequence below). Each calculation is performed on the accumulated value of all preceding calculations for the same premium type and sequence number.

Rate The amount in the Driver Field is multiplied by the Amount or Rate field. The result is added to the accumulated value.

Multiplier The accumulated value is multiplied by the Amount or Rate field.If a Driver Field is specified, then that amount is multiplied by the Amount or Rate field, with the result being multiplied by the accumulated value.

Flat Amount The amount in the Amount or Rate field is added to any accumulated value. The Driver Field is not used.

Minimum If the accumulated value for this premium type and sequence number is less than the amount in the Amount or Rate field, it is increased to the specified amount.

Discount or Surcharge

The Amount or Rate is calculated from the accumulated value as either a discount or surcharge, with numbers from zero to one providing a discount and numbers greater than one resulting in a


95Index

surcharge.If a Driver Field is also defined, that amount is calculated from the accumulated value the same way, but separate from the Amount or Rate.The calculated values for each are then added to or subtracted from the original accumulated value.

Example: A final value of 0.8 results in a 20% discount. A final value of 1.3 results in a 30% surcharge.

Note: The Discount or Surcharge type does not work with premium grids.

4. Select a Driver Field, if required by the Rate Type.

Only fields within the attached workflow that have been designated as Rate Driver fields are available. See the Managing Fields section of the Product Design guide for instructions on configuring fields.

5. Enter an Amount or Rate, suitable to the selected Rate Type.

6. The Attachment and Limit fields can be used together or separately to define what portion of the Driver Field value should be used for the calculations in the selected entry. Both fields are optional.

When an Attachment value is provided, only the Driver Field amount exceeding the value is used. If the amount is less than or equal to the Attachment value, the amount is zero.

The Limit value is the maximum amount that is used from the Driver Field.

If both fields are provided, the calculations are done on the portion of the Driver Field that falls between the two values.

Examples:

If the Attachment value is 10,000, and the Driver Field equals 15,000, the calculations are based on a value of 5,000.


96Index

If the Limit value is 25,000, and the Driver Field equals 30,000, the calculations are based on a value of 25,000.

If the Attachment value is 10,000, the Limit value is 25,000, and the Driver Field equals 30,000, the calculations are based on a value of 15,000.

7. A Trigger Name can be selected to control the entry. If the trigger does not evaluate as true, the calculation for this entry is not applied. If no trigger is selected, the calculation for this entry is always applied.

8. A Sequence number can be entered. This is used to control the order in which entries are calculated. Entries without sequence numbers are processed first, followed by sequenced entries from the lowest value to the highest.


Calculations start with the premium type that has the lowest initial sequence number (or no sequence number), and all entries for that premium type are completed before proceeding to the premium type with the next-lowest initial sequence number. If any rate calculations are to be based on the calculated results of another premium type, the initial sequence numbers should be kept unique to ensure the proper order of the calculations.

For each premium type, all entries with the same sequence number are handled according to Rate Type in the following order:

a. Rateb. Flat Amountc. Discount or Surcharged. Multipliere. Minimum

All entries with the same premium type, sequence number, and rate type are handled as follows:Rates Each rate is calculated separately and added to the accumulated value for the premium

type and sequence number.

Flat Amount Each amount is added to the accumulated value for the premium type and sequence number.

Discount or Surcharge Multiple entries are combined to determine a total discount or total surcharge, which is


97Index

applied to the accumulated value for the premium type and sequence number.

Multiplier Each multiplier is applied separately.

Minimum Only one minimum should be applied to a single sequence number.

9. The Effective Date and Valid Until Date fields can be used together or separately to control when the entry should be applied. If the effective date of the transaction is before the effective date of the entry or after the valid until date of the entry, the calculation for this entry is not applied.

10.Press the Tab key from the Valid Until Date field or click outside the table to add the item to the list. The item is highlighted in yellow to indicate that it has not been accepted yet.

11.Repeat steps 1 to 10 to add additional entries.

12.Once all entries have been added, right-click inside the table and select Accept All Changes. This saves the current table.

13.Click Save to save the changes.

14.Additional rates can be added to the same Quote Option, or a different Quote Option can be selected.

Viewing and Modifying a Rate





98Index


The Rate Configuration panel displays all rates currently set for the master cover.

1. Double-click on any field in the table to open it for editing. See the section on Adding a Rate for a detailed description of the fields.

2. Once all changes have been made, click outside the table. The edited rates are highlighted in yellow.

3. Right-click inside the table and select Accept All Changes. This saves the current table.

4. Click Save to save any changes.

Deleting a Rate

A rate can be deleted from the master cover. Any current submissions or policies are unaffected, and submissions that are already quoted can be bound, but recalculating an existing submission or any new transactions does not include the deleted rate.


99Index





The Rate Configuration panel displays all rates currently set for the master cover.

1. To remove list items, right-click on the item in the table, and select Delete. The item is highlighted in red, and is removed when the list is saved.



100Index



101Index

Validation & Workflow Actions

As users navigate through the submission process, the system regularly checks the content of the submission against a series of defined rules. These rules can trigger warnings, require changes to the data, or require intervention by the Underwriters or other authorized users.

Different types of validations are performed at different points in the workflow, such as while navigating through the workflow, when calculating a quote, or when trying to bind the policy. The quote calculation itself has a specific sequence of events, detailed here.

General Settings

The Validation and Workflow Actions page is used to define when certain actions are taken throughout the workflow, and what validations are performed in relation to those actions.

With the master cover selected, click the Validation & Workflow Actions item in the Screens widget. For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.




102Index

The Validation Rules panel displays all validation rules currently set for the master cover. Click Create to add a new rule, or click a link in the Type column to edit or delete a rule.

For more information on a trigger, click the link in the Trigger column to open a new tab or new window with the trigger details.

Calculate Quote Select the pages in the workflow where the quote process should be run. When the user clicks Save and Refresh on one of the selected pages, or tries to move forward from the page, the system calculates all calculated fields, calculates the premium for the current settings in the submission, and determines the appropriate limits, deductibles, and insuring conditions.

In addition, any validation rules (see below) linked to the quote process are checked.

Click Save to save the settings on the page.


103Index

Creating a Validation Rule




The Validations panel displays all validation rules currently set for the master cover.

1. Click Create. The Master Cover - Validation Rules page opens.


104Index




Type Select what type of validation is to be performed for this rule.

Referral Referral rules are used to identify details in the submission that require review and manual approval by the Underwriter.

Referral rules are validated when the Calculate Quote process is activated, as defined in the Actions panel of the Validations and Actions page. The Screens option below displays the selected screens for reference.

If the conditions for this rule are met, the submission goes into Underwriting Required status. The attached message is displayed and the user has the options to make changes, or to click Request Quote and send the submission into Referred status for review by the Underwriter or other authorized user.

Warning Warnings are used to provide information to a user. They do not prevent the user from proceeding with the submission.


105Index

Warning rules can be applied to individual pages in the workflow (see Screens option below).

If the conditions of this rule are met, the attached message is displayed. No action is required for this message, and the user can continue normally. Once a warning is activated on one page in the workflow, it appears on all pages until the cause of the warning is removed.

Data Validation Data Validation rules determine if entries in the submission form meet requirements. These can be used to check if values do not meet minimum or maximum requirements, if the choices in one field requires specific answers in related fields, or any other restriction that must be applied to data in the form.

Data Validation rules can be applied to individual pages in the workflow (see Screens option below).

If the conditions of this rule are met, the submission is returned to Incomplete status. The attached message is displayed and the user must correct the relevant information before they can proceed to the next page in the workflow.

Note: The system has its own warnings for when users do not complete required fields or if they enter data in the wrong format. Data Validation should be used for items that are not caught by the system.

Quote Validation Quote Validation rules are checked whenever a quote is calculated or issued, whether triggered manually or automatically. These are used to verify that the submission includes all information required to generate a valid quote.If the conditions of this rule are met, the attached message is displayed and the submission returns to Incomplete status. The user is able to navigate the submission form normally, but they must correct the relevant information before a quote can be successfully generated.

Note: The Bypass Quote Validations on Issue Quote option in the Policy Settings page of the master cover causes all Quote Validations to be ignored when a user manually issues a quote.

Bind Validation Bind Validation rules determine if all required information has been provided and is valid before binding a policy.

Bind Validation rules are checked whenever a user attempts to Bind a submission.

If the conditions of this rule are met, the attached message is displayed and the user must


106Index

correct the relevant information before attempting to Bind the submission again.

Compliance Compliance rules are used to identify details in the submission that may not comply with international restrictions. The attached trigger may be set to check specific conditions in the submission form, or may perform a compliance scan against one or more lists of restricted entities.


If the conditions for this rule are met, the submission goes into Underwriting Required status. The attached message is displayed and the user has the options to make changes, or to click Request Quote and send the submission into Referred status for review and approval by a user with Compliance authority.

Manual Bind Manual Bind rules are used to prevent users from binding a policy under circumstances that require approval from an authorized user.


If the conditions for this rule are met, the attached message is displayed. However, instead of a Bind button, the user has a Request Bind button. If they click Request Bind, the status changes to Bind Requested and only the Underwriter or other authorized user is able to bind the policy.

Note: Authorized users do not see the Request Bind button. In both Quoted and Bind Requested statuses, they have the Bind button.

Message Enter a Message to be displayed at the top of the screen when the conditions for this rule are met.

Code A Code can be entered for integration with external systems.


107Index

Screens Check each screen where the rule should be applied. This option is only editable for Warning and Data Validation rules. For rules based on the Get Quote process, this feature displays the screens selected in the Actions panel of the Validations and Actions page. This feature is not shown for rule types that are linked to other actions.

Trigger Name Select a Trigger to set the conditions for the rule. If the trigger evaluates as true, the rule is applied.

If no trigger is specified, the rule is always applied. Triggers should always be included for rules that stop the user from proceeding, or it becomes impossible to complete the submission process.

Effective Date The date fields for the Effective Date can be used together or separately to control when the rule is applied. If the effective date of the transaction is before the beginning date of the rule or after the end date of the rule, the rule is not applied.

3. Click Add to save the rule but remain on the page, click Add & New to save the rule and clear the form to enter additional rules, click Add & Close to save the rule and return to the rules list, or click Close to return to the rules list without saving the rule.


108Index

Viewing and Modifying a Validation Rule





1. Click a link in the Type column to view the rule details.

2. See the section on Creating a Validation Rule for a detailed description of the fields. All fields may be edited, if necessary.


109Index

3. Click Save to save any changes and remain on the page, click Save & Close to save and return to the rules list, or click Close to return to the rules list without saving any changes.

Deleting a Validation Rule





1. Click a link in the Type column to view the rule details.


110Index



111Index

Insuring Conditions

Insuring Conditions are preset blocks of legal text (clauses) that define the conditions of insurance depending on various factors in the submission. Using triggers, conditions can be included or excluded from the Insuring Conditions field based on the choices and data the user has entered in the submission form, all determined during the calculation of a quote. The quote calculation itself has a specific sequence of events which could affect the calculations, click here for more information.

Adding an Insuring Condition

With the master cover selected, click the Insuring Conditions item in the Screens widget. For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.



Select a Quote Option to view the insuring conditions defined for that option.


112Index

The Insuring Conditions panel displays all clauses under the selected Quote Option.


2. The clause can be associated to a specific Premium Type. Select All Premium Types to make the clause independent of the premium type.

3. Select a Condition Type. Standard All Standard conditions for the selected Premium Type are displayed as long as no Override

conditions are displayed for the same Premium Type.

Override If any Override condition is displayed for a Premium Type, it replaces all Standard conditions for the associated Premium Type.Triggers should be defined for Override conditions or they are always displayed, and always replace the associated Standard conditions.

4. Select the Clause Name containing the necessary text.

5. Select a Trigger Name to set the conditions for inclusion of this clause. If the trigger evaluates as true, the clause is added to the Insuring Conditions field.

If no trigger is specified, the clause is always included.

6. A Code can be entered for integration with external systems.

7. Enter a Sequence number to determine in what order the clauses appear in the Insuring Conditions field.


113Index


8. The Effective Date and Valid Until Date fields can be used together or separately to control when the clause is included. If the effective date of the transaction is before the effective date of the clause or after the valid until date of the clause, the clause is not included.

9. Press the Tab key from the Valid Until Date field or click outside the table to add the item to the list. The item is highlighted in yellow to indicate that it has not been accepted yet.




13.Additional insuring conditions can be added to the same Quote Option, or a different Quote Option can be selected.

Viewing and Modifying an Insuring Condition





114Index


The Insuring Conditions panel displays all clauses currently attached to the master cover.

1. Double-click on any field in the table to open it for editing. See the section on Adding an Insuring Condition for a detailed description of the fields.

2. Once all changes have been made, click outside the table. The edited conditions are highlighted in yellow.




115Index

Deleting an Insuring Condition






116Index

The Insuring Conditions panel displays all clauses currently attached to the master cover.





117Index

Taxes & Fees

Once all rates and charges have been calculated for a particular Premium Type, Taxes & Fees can be applied that are displayed separately in the Premium column of the Quote Summary window. The quote calculation itself has a specific sequence of events which could affect the calculations, click here for more information.

Each tax or fee can be conditional, using triggers to determine if it should be applied or not. This can be used to create localized taxes for countries or states, or special handling fees depending on settings in the submission.

Adding a Tax or Fee

With the master cover selected, click the Taxes & Fees item in the Screens widget. For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.




118Index

The Taxes & Fees panel displays all additional charges currently attached to the master cover.


2. Select an available Taxes & Fees option.

3. Select a Premium Type, or leave the field blank to apply the tax or fee to all premium types.

4. A Trigger Name can be selected to set the conditions for this tax or fee to be applied. If the trigger evaluates as true, the tax or fee is applied to the premium types.

If no trigger is specified, the tax or fee is always applied.

5. The Effective Date and Valid Until Date fields can be used together or separately to control when the tax or fee is applied. If the effective date of the transaction is before the effective date of the entry or after the valid until date of the entry, the tax or fee is not applied.

6. Press the Tab key from the Valid Until Date field or click outside the table to add the item to the list. The item is highlighted in yellow to indicate that it has not been accepted yet.

7. Repeat steps 1 to 6 to add additional entries.

8. Once all entries have been added, right-click inside the table and select Accept All Changes. This saves the current table.

9. Click Save to save the changes.


119Index


120Index

Viewing and Modifying a Tax or Fee





1. Double-click on any field in the table to open it for editing. See the section on Adding a Tax or Fee for a detailed description of the fields.

2. Once all changes have been made, click outside the table. The edited taxes or fees are highlighted in yellow.



121Index


Deleting a Tax or Fee







122Index




123Index

Limits

Limits are used to define the maximum insurable values for the insurance product when a quote is calculated. The quote calculation itself has a specific sequence of events which could affect the calculations, click here for more information.

A limit can be set as a fixed amount or can be linked to a driver field, and a trigger can be used to control if the limit is applied or not.

Creating a Limit

With the master cover selected, click the Limits item in the Screens widget. For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.



Select a Quote Option to view the limits defined for that option.


124Index

The Limits panel displays all limits under the selected Quote Option.


2. Select a Premium Type where the limit should be applied.

3. Enter a Description to be available in the Quote Summary window.

4. Select a Limit Type from the options defined in the limit type list selected in the Policy Settings page of the master cover.

5. Enter a default Amount. This amount is used as the limit value if no Driver Field is defined, or if the Driver Field is empty.

6. Select a Currency for the limit.

7. Select a Driver Field if the limit amount should be taken from the submission form. If the Driver Field (which may be user-entered or a calculated field) has any value, including zero, that value is used as the limit value. If the Driver Field is left blank in the submission form, or if no Driver Field is selected, the Amount value is used by default. Only fields defined as Rate Drivers are available in this list.

8. A Trigger can be selected to set the conditions for this limit to be applied. If the trigger evaluates as true, the limit is applied to the premium type.

9. The Effective Date and Valid Until Date fields can be used together or separately to control when the limit is applied. If the effective date of the transaction is before the effective date of the limit or after the valid until date of the limit, the limit is not applied.


125Index





14.Additional limits can be added to the same Quote Option, or a different Quote Option can be selected.

Viewing and Modifying a Limit






126Index

The Limits panel displays all limits currently set for the master cover.

1. Double-click on any field in the table to open it for editing. See the section on Adding a Limit for a detailed description of the fields.

2. Once all changes have been made, click outside the table. The edited limits are highlighted in yellow.



Deleting a Limit



127Index




The Limits panel displays all limits currently set for the master cover.





128Index

Deductibles

Deductibles are used to define the amount that must be covered by the client in the event of a claim, and are determined when a quote is calculated. The quote calculation itself has a specific sequence of events which could affect the calculations, click here for more information.

A deductible can be set as a fixed amount, percentage, or can be linked to a driver field. A trigger can be used to control if the deductible is applied or not.

Creating a Deductible

With the master cover selected, click the Deductibles item in the Screens widget. For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.



Select a Quote Option to view the deductibles defined for that option.


129Index

The Deductibles panel displays all deductible amounts under the selected Quote Option.


2. Select a Premium Type where the deductible should be applied.

3. Enter a Description to be available in the Quote Summary window.

4. Select a Deductible Type from the options defined in the deductible type list selected in the Policy Settings page of the master cover.

5. Select if the deductible should be a flat Amount or a Percentage.

6. Enter the flat amount or percentage, according to the selection in the Amount/Percentage field.

7. Enter a minimum amount for the deductible. This is for information purposes, and does not actively restrict the value.

8. Enter a maximum amount for the deductible. This is for information purposes, and does not actively restrict the value.

9. Select a Currency for the deductible.

10.Select a Driver Field if the deductible amount should be taken from the submission form. If the Driver Field (which may be user-entered or a calculated field) has any value, including zero, that value is used as the deductible amount. If the Driver Field is left blank in the submission form, or if no Driver Field is selected, the Amount value is used by default. Only fields defined as Rate Drivers are available in this list.


130Index

11.A Trigger can be selected to set the conditions for this deductible to be applied. If the trigger evaluates as true, the deductible is applied.

12.The Effective Date and Valid Until Date fields can be used together or separately to control when the deductible is applied. If the effective date of the transaction is before the effective date of the deductible or after the valid until date of the deductible, the deductible is not applied.





17.Additional deductibles can be added to the same Quote Option, or a different Quote Option can be selected.

Viewing and Modifying a Deductible





131Index


The Deductibles panel displays all deductible amounts currently set for the master cover.

1. Double-click on any field in the table to open it for editing. See the section on Adding a Deductible for a detailed description of the fields.

2. Once all changes have been made, click outside the table. The edited deductibles are highlighted in yellow.




132Index

Deleting a Deductible






133Index

The Deductibles panel displays all deductible amounts currently set for the master cover.





134Index

External Services

The External Services page is used to arrange the automated export of submission and policy information.

With the master cover selected, click the External Services item in the Screens widget. For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.



Select the receiving System for the data. Only one system can be configured for each master cover. Export Policy to Genoa: This system transfers bound policies to the Genoa Insurance System for use in generating

certificates and claims. If this option is selected, all transaction types can be used, but only the Bound transaction status can be used.


135Index

Identify what combinations of Transaction Type and Transaction Status should be exported.

Policy Transaction Types Select the transaction types that should be exported.

Policy Transaction Statuses Select the transaction statuses that should be exported.



136Index

Payment Settings

The system supports online payments by credit card. Payment options can be configured to offer installments, and include custom terms and conditions.

With the master cover selected, click the Payment Settings item in the Screens widget. For instructions on finding and viewing a master cover, see the section on Viewing and Modifying a Master Cover.



Online Payment Enables online payment. If not enabled, binding a policy functions normally, and billing is handled separately.

Payment Processor Select the company that handles the payments online. New companies can be added, which is handled by Oceanwide.

When to Bill While the client provides their credit card information when they Bind the policy, and the appropriate validation is done, the charge may not be processed immediately.

Bind Date The full payment or first installment is processed immediately.


137Index

Effective Date The full payment or first installment is charged on the date that the insurance takes effect.

The client may be required to pay the full amount in one payment, or they may be provided with installment options. The Allow Installments checkbox enables the Frequency options. One or more options may be checked, allowing the client to choose which of the available options to use.

Any Additional Information can be entered, which is displayed on the payment screen.


138Index

The Terms and Conditions can be defined in detail, using Rich Text and a standard suite of formatting tools.



139Index

Reference

Appendix A - Workflow Event Types

A Workflow Event is when a submission or policy changes from one status to another due to a specific action taken by a user or by the system. Some options in the system can be set to activate when a specific Workflow Event occurs.

The table below lists the following information:Name The name of the event type as it appears in the selection list.Transaction Type The type(s) of business the event applies to.Source Status The "Before" status of the transaction.Action The action taken by the user or the system, corresponding to the button for that action.Destination Status The "After" status of the transaction.

Any specific notes related to an event are listed below the table.

Name Transaction Type Source Status Action Destination Status

Accept Compliance - Referral Pending † New Business, Endorsement, Adjustment, Declaration, Renewal

Referred-Compliance Accept Compliance Referred

Accept Compliance - Release Compliance Referral † New Business, Endorsement, Adjustment, Declaration, Renewal

Referred-Compliance Accept Compliance Quoted

Bind - New Business New Business Quoted Bind Bound

Bind - Endorsement Endorsement Quoted Bind Bound

Bind - Adjustment Adjustment Quoted Bind Bound

Bind - Declaration Declaration Quoted Bind Bound


140Index


Bind - Renewal Renewal Quoted Bind Bound

Bind - From Referral - New Business New Business Referred - Any Bind Bound

Bind - From Referral - Endorsement Endorsement Referred - Any Bind Bound

Bind - From Referral - Adjustment Adjustment Referred - Any Bind Bound

Bind - From Referral - Declaration Declaration Referred - Any Bind Bound

Bind - From Referral - Renewal Renewal Referred - Any Bind Bound

Confirm Cancellation Cancellation Quoted Confirm Cancellation Cancelled ‡

Decline - From Manual Bind Request New Business, Endorsement, Adjustment, Declaration, Renewal

Referred - Manual Bind Request Decline Declined

Decline - From Referral New Business, Endorsement, Adjustment, Declaration, Renewal

Referred - Regular Decline Declined

Decline - From Special Quote Request New Business, Endorsement, Adjustment, Declaration, Renewal

Referred - Special Request Decline Declined

Get Quote / Recalculate Quote - New Business New Business Incomplete or Underwriting Required or Quoted or Lost

Get Quote or Recalculate Quote

Quoted

Get Quote / Recalculate Quote - Endorsement Endorsement Incomplete or Underwriting Required or Quoted or Lost


Quoted

Get Quote / Recalculate Quote - Adjustment Adjustment Incomplete or Underwriting Required or Quoted or Lost


Quoted

Get Quote / Recalculate Quote - Declaration Declaration Incomplete or Underwriting Required or Quoted or Lost


Quoted

Get Quote / Recalculate Quote - Renewal Renewal Incomplete or Underwriting Required or Quoted or Lost


Quoted

Get Quote / Recalculate Quote - Incomplete or Quoted to Incomplete

New Business, Endorsement, Adjustment, Declaration, Renewal

Incomplete or Quoted Quote calculation, activated manually or through navigation, triggering a quote validation.

Incomplete


141Index


Issue Quote - From Existing Quote New Business, Endorsement, Adjustment, Declaration, Renewal

Quoted Issue Quote Quoted

Issue Quote - From Lost Quote New Business, Endorsement, Adjustment, Declaration, Renewal

Lost Issue Quote Quoted

Issue Quote - From Manual Bind Request New Business, Endorsement, Adjustment, Declaration, Renewal

Referred-Manual Bind Request Issue Quote Quoted

Issue Quote - From Referral New Business, Endorsement, Adjustment, Declaration, Renewal

Referred-Regular Issue Quote Quoted

Issue Quote - From Special Quote Request New Business, Endorsement, Adjustment, Declaration, Renewal

Referred-Special Quote Request Issue Quote Quoted

Mark As Lost - New Business New Business Quoted Mark as Lost Lost

Mark As Lost - Endorsement Endorsement Quoted Mark as Lost Lost

Mark As Lost - Adjustment Adjustment Quoted Mark as Lost Lost

Mark As Lost - Renewal Renewal Quoted Mark as Lost Lost

Reject Compliance New Business, Endorsement, Adjustment, Declaration, Renewal

Referred-Compliance Reject Compliance Declined

Renew Renewal Bound Renew Incomplete

Request Bind - Manual Bind Request New Business, Endorsement, Adjustment, Declaration, Renewal

Quoted Request Bind Referred-Manual Bind


142Index


Request Quote - Submit Compliance Referral New Business, Endorsement, Adjustment, Declaration, Renewal

Underwriting Required Request Quote Referred-Compliance

Request Quote - Submit Referral New Business, Endorsement, Adjustment, Declaration, Renewal

Underwriting Required Request Quote Referred-Regular

Request Special Quote New Business, Endorsement, Adjustment, Declaration, Renewal

Quoted Request Special Quote Referred-Special Quote

† - Accepting compliance can have two different results. If referral conditions exist along with the compliance conditions, the referral must be reviewed and approved separately from the compliance. If no referral conditions exist, the submission goes into Quoted status.‡ - When a Cancellation transaction is confirmed, the transaction itself is considered Bound while the policy is marked as Cancelled. The Destination Status of Cancelled refers to the policy and not the transaction.


143Index

Appendix B - Prorating and Adjustments

When transactions are quoted, a variety of calculations are performed, including Prorating (modifying an amount based on time frame) and Adjustments (refunds or additional charges resulting from changes in an endorsement).

Prorating: With a premium type being prorated by default, all rate calculations are based on a 1-year period, and then modified appropriately for the actual effective period of the policy or endorsement. This can result in a reduced value for periods less than a full year, or an increased value for periods greater than a year. If prorating is overridden, the premium type is calculated at its full amount, regardless of the effective period.

Examples:Prorating On: The calculated premium for the entire year is 9,000. If the term is reduced or an endorsement is

created for eight months instead of twelve, the prorated premium is approximately two-thirds of the full-year value, calculated to the precise number of days.

Prorating Off: Without prorating, the full premium is calculated with no modification for dates.


144Index

Note: The master cover settings for adjusting the Valid Until Date or offsetting the policy term to a specific time of day do not affect the prorating calculations. Without a time offset, the extra day is not counted (coverage ends at the beginning of the last day instead of the end), and with a time offset, the first and last days are partial days that equal one day. See Appendix D - Setting Time of Day for Policy Terms for more details.

Adjustments: With a premium type being adjusted by default, the system only counts the calculated premium resulting from changes within an endorsement. If an endorsement results in changes to a premium, the full premium is calculated and then adjusted according to the premium amounts from the other transactions within the term. If adjustment is overridden, the premium type is calculated at its full amount, regardless of any premium amount calculated for other transactions.

Examples:Adjustments On: The calculated premium for the bound policy is 9,000. An endorsement is created for the full term,

including changes that result in a 50% increase in the premium. With adjustments, only the difference between the policy and endorsement are calculated.

Adjustments Off: Without adjustments, the full premium is calculated for the endorsement.

The system defaults to applying both prorating and adjustments to each premium type. However, each premium type can be set to bypass one or both calculations.


145Index

Examples: (in all examples, the original premium is 9,000, and an endorsement is created that results in a 50% increase in premium)

Prorating OnAdjustments On

With the changes to the coverage, the full premium for the endorsement equals 13,500. With both calculations being performed, this amount is prorated down to 9,062, and then adjusted to 3,021 as the endorsement premium.These settings result in a total term premium of 12,021.

Prorating OnAdjustments Off

With only prorating being applied, the 13,500 premium is reduced to 9,062 as the endorsement premium.These settings result in a total term premium of 18,062.

Prorating OffAdjustments On

Without prorating being applied to the original premium or the endorsement premium, the full-year value of the original premium (9,000) is deducted from the full-year value of the endorsement (13,500) resulting in 4,500 as the endorsement premium.These settings result in a total term premium of 13,500.


146Index

Prorating OffAdjustments Off

With neither calculation being applied, the full-year value of 13,500 becomes the endorsement premium.These settings result in a total term premium of 22,500.

Tip: One potential use for these settings is to create a user-entered charge for endorsements. A field could be created and set to only appear on endorsements. This field would drive a rate at a 1 to 1 ratio. With prorating active, the user-entered value would be changed if the effective period is not a full year. With adjustments active, the user-entered value would be reduced by any pre-existing charges for that premium type during the effective period. Bypassing prorating and adjustments would allow the full user-entered amount to be charged.

The settings per premium type are handled in the master cover setup, under the Policy Settings page. The Premium Calculation Settings panel allows all available premium types to be overridden for prorating and/or adjustments.


147Index

Appendix C - Rates

The rates system in Bridge is a powerful and versatile structure that enables extremely complex calculations to be performed. This section provides detailed descriptions of how the rates features function and interact.

See the Rates section for instructions on adding rates to a master cover.

Premium Type

Each premium type attached to a master cover represents one item in the final list of charges and credits on the submission or policy form. Each premium type may be the result of a single calculation, or it may be the accumulated total of several calculated values.

The final value of each premium type is used to calculate all other related values, such as taxes and commissions.

Example: The following Rate Configuration table includes two premium types. The Single Premium has one result, calculated as 10% of Field 1. The Accumulated Premium is the total of three results, 50% of Field 2, 20% of Field 1, and a flat amount of 1000.

If the submission has 1000 entered into both Field 1 and Field 2, the quoted premiums are as follows:


148Index

Accumulated Premium: 1000 x 0.5 = 5001000 x 0.2 = 200

10001700

Single Premium: 1000 x 0.1 = 100

Rate Type

The rate type defines what calculation, if any, is performed for each entry in the Rate Configuration table. All calculations for the same premium type and sequence number are performed in a specific order (see Sequence below). Each calculation is performed on the accumulated value of all preceding calculations for the same premium type and sequence number.

RateA Rate is calculated by multiplying the value of the Driver Field in the submission form by the value of the Amount or Rate field. The result is added to the accumulated value.

The Amount or Rate field is commonly a decimal value representing a percentage, such as 0.1 to represent 10%. However, any positive number can be used.

Examples:

If the Driver Field equals 1000 and the Amount or Rate is 0.5 (50%), the calculated value would be 500.

If the Driver Field equals 5000 and the Amount or Rate is 0.02 (2%), the calculated value would be 100.


149Index

MultiplierA Multiplier is calculated by taking the accumulated value and multiplying it by the value of the Amount or Rate field. The result becomes the new accumulated value.

The Amount or Rate field can be any positive number. Values over 1 result in an increase, and values between 0 and 1 result in a decrease.

A Driver Field is not required. If one is specified, the value of the driver field is multiplied by the Amount or Rate value and the result is multiplied by the accumulated value.

Examples:

If the accumulated value is 4000, and a Multiplier of 1.5 is applied, the new value of the Premium Type is 6000.

If the accumulated value is 5000, and a Multiplier of 0.2 is applied, the new value of the Premium Type is 1000.

If the accumulated value is 1000, a Driver Field has been selected and has a current value of 200, and a Multiplier of 3 is applied, the new value of the Premium Type is 600,000 (1000 x 200 x 3).

Notes:

Since all values are multiplied by each other, a zero value anywhere in the multiplier results in a final zero value for the accumulated value at this point in the calculations. If the driver field is left blank, it is considered a 1, having no effect on the calculation.

While the Multiplier functionality may appear similar to Discount or Surcharge, the behavior is different in two ways: More than one Multiplier calculations are compounded, with each multiplier being applied individually. More than

one Discount or Surcharge calculations are combined before being applied. See the Sequence section below for details and examples.

The calculated result of a Multiplier becomes the new accumulated value. The calculated result of a Discount or Surcharge is added to or subtracted from the accumulated value.

Flat AmountAs the most direct type of rate, the Flat Amount adds or deducts the Amount or Rate from the accumulated value.

The Amount or Rate field can be any number. Positive values are added to the accumulated value, and negative values are deducted. The Driver Field is not used.


150Index

Examples:

If the accumulated value is 4000, and a Flat Amount of 2000 is applied, the new value is 6000.

If the accumulated value is 5000, and a Flat Amount of -2000 is applied, the new value is 3000.

If the accumulated value is 0, and a Flat Amount of -2000 is applied, the new value is -2000.

Tip: Deducting a Flat Amount could result in a negative value. To prevent this, a Minimum rate type of 0 can be applied immediately after the Flat Amount calculation. See the Sequence section below for information on controlling the order of the calculations.

MinimumThe accumulated value is compared to the value of the Amount or Rate field. If the total is less than the Amount or Rate field, it is increased to that amount.

The Amount or Rate field can be any positive number.

Examples:

If the current value of the Premium Type is 4000, and a Minimum of 5000 is defined, the new value of the Premium Type is 5000.

If the current value of the Premium Type is 4000, and a Minimum of 3000 is defined, the Premium Type is not changed.

Discount or SurchargeA Discount or Surcharge is calculated by taking the accumulated value and multiplying it by adjusted versions of the Amount or Rate field or Driver Field. The results are added to or subtracted from the accumulated value.

The Amount or Rate field can be any positive number. Values over 1 result in a surcharge, and values between 0 and 1 result in a discount. A value of exactly 1 has no effect.


151Index

A Driver Field is not required. If one is specified, the value is used as a second Amount or Rate, calculated against the accumulated value and then added or subtracted at the same time as the value calculated from the Amount or Rate. To use the Driver Field value instead of the Amount or Rate, enter 1 in the Amount or Rate field.

Since the Amount or Rate value and the Driver Field value each perform the same calculations from different source values, it is most common to use one source or the other, but not both.

Important: The values used in the Amount or Rate field and Driver Field represent the intended result of the calculation. 1.5 equals a 50% surcharge, while 0.5 equals a 50% discount. However, the provided values are adjusted by -1 in order to isolate the actual amount of the discount or surcharge. When multiple discounts and surcharges are applied at the same time, this prevents the original accumulated value from being multiplied.

Examples:

If the accumulated value is 4000, and a Discount or Surcharge of 1.5 is applied (a 50% surcharge), the new value of the Premium Type is 6000.1.5 - 1 = +0.5 (the isolated surcharge rate)4000 x +0.5 = +2000 (the actual surcharge)4000 + 2000 = 6000

If the accumulated value is 5000, and a Discount or Surcharge of 0.2 is applied (an 80% discount), the new value of the Premium Type is 1000.0.2 - 1 = -0.8 (the isolated discount rate)5000 x -0.8 = -4000 (the actual discount)5000 - 4000 = 1000

If the accumulated value is 1000, a Driver Field has been selected and has a current value of 1.8 (an 80% surcharge), and an Amount or Rate of 0.6 is applied (a 40% discount), the two values are calculated and applied separately against the current accumulated value.1.8 - 1 = +0.8 (the isolated surcharge rate)1000 x +0.8 = +800 (the actual surcharge)0.6 - 1 = -0.4 (the isolated discount rate)1000 x -0.4 = -400 (the actual discount)The new accumulated value is 1400 (1000 + 800 - 400).

Notes:

A value of 0 in either the Amount or Rate field or the Driver Field results in a 100% discount. A value of 1 should be entered to represent no discount or surcharge. If no Driver Field is selected or the Driver Field is blank, it is not included in the calculations.


152Index

The Discount or Surcharge type does not work with premium grids.

While the Discount or Surcharge functionality may appear similar to Multiplier, the behavior is different in two ways: More than one Multiplier calculations are compounded, with each multiplier being applied individually. More than

one Discount or Surcharge calculations are combined before being applied. See the Sequence section below for details and examples.

The calculated result of a Multiplier becomes the new accumulated value. The calculated result of a Discount or Surcharge is added to or subtracted from the accumulated value.

Driver Field

The Driver Field column is used to select a field from the workflow to be used for the calculations of certain rate types. The selected field may be a value entered directly by the user, or may be a calculated field that generates a value based on several options throughout the workflow.

In order for a field to be available in this list, it must be defined as a Rate Driver in the field configuration, and it must be included in the workflow attached to the selected master cover. See the Managing Fields section of the Product Design guide for instructions on configuring fields.

Amount or Rate

The Amount or Rate field contains the value to be applied according to the rate type. See the individual Rate Type descriptions for details on what values are permitted.

Attachment and Limit

The Attachment and Limit fields can be used together or separately to define what portion of the Driver Field value should be used for the calculations in the selected entry. If neither field is used, the full Driver Field value is used for calculations.


153Index

AttachmentWhen used without a Limit entry, only the amount of the Driver Field that exceeds the Attachment value is used for calculations. Essentially, the Attachment value is deducted from the Driver Field value (with a minimum value of 0) and the result is used for the calculations. This does not change the actual Driver Field value.

The Attachment field can be any positive number.

Examples:

If the Driver Field equals 4000, and an Attachment value of 1000 is defined, the calculations are performed using a Driver Field value of 3000.

If the Driver Field equals 2000, and an Attachment value of 3000 is defined, the Driver Field is considered 0 and is not used in the calculations. For Multiplier and Discount or Surcharge rate types, the calculations are still performed on any accumulated total of the Premium Type.

LimitWhen used without an Attachment entry, this defines the maximum amount to be used from the Driver Field. If the Driver Field value is less than or equal to the Limit value, the full Driver Field value is used for the calculations. If the Driver Field value exceeds the Limit value, the Limit value is used for the calculations. This does not change the actual Driver Field value.

The Limit field can be any positive number.

Examples:

If the Driver Field equals 4000, and a Limit value of 3000 is defined, the calculations are performed using a Driver Field value of 3000.

If the Driver Field equals 2000, and a Limit value of 3000 is defined, the calculations are performed using a Driver Field value of 2000.

Attachment and LimitWhen used together, Attachment and Limit values define a range of the Driver Field to be used for the calculations, sometimes known as Rate Layers. The Attachment value defines the beginning of the range, and the Limit value defines the end of the range. Only the portion of the Driver Field value that falls within that range is used.

Examples:


154Index

In the chart above, the Attachment value is set at 1000 and the Limit value is set at 3000. This defines the Range of the value that can be used for calculations.

If the Driver Field equals 500, shown as Point A in the chart, it is considered 0 since it is less than the Attachment value.

If the Driver Field equals 2000, shown as Point B in the chart, 1000 of that value falls within the range. That 1000 is used for the calculations.

If the Driver Field equals 3500, shown as Point C in the chart, 2000 of that value falls within the range. That 2000 is used for the calculations.

Trigger Name

A trigger can be defined to control if an individual entry is applied or not. If the trigger does not evaluate as true, the entry is skipped and the system proceeds to the next entry in sequence.

Sequence

While many premiums have fairly simple calculations, some formulas can include several factors that must be processed in a specific order, or contain calculations that should only be applied to certain values and not the entire premium type. Sequence numbers can be used to isolate calculations from each other.


155Index

Calculations start with the Premium Type that has the lowest initial sequence number, and all entries for that premium type are completed in order of sequence. The system then proceeds to the premium type with the next-lowest initial sequence number. If any rate calculations are to be based on the calculated results of another premium type, the initial sequence numbers should be kept unique to ensure the proper order of the calculations.

For each premium type, the system works through the calculations starting with entries without sequence numbers, followed by sequenced entries from the lowest value to the highest. All entries within the same sequence number are processed in order (see below), with the results of each calculation being passed to the next calculation within the same sequence number. Once all sequence numbers for a premium type have been completed, the accumulated values from all sequence numbers are added together to create the final gross premium amount for that premium type.

For each Premium Type, all entries with the same sequence number (including no sequence number) are handled according to Rate Type in the following order:

1. Rate2. Flat Amount3. Discount or Surcharge4. Multiplier5. Minimum

All entries with the same Premium Type, Sequence number, and Rate Type are handled as follows:Rate Each rate is calculated separately and added to the accumulated value.

Flat Amount Each amount is added to the accumulated value.

Discount or Surcharge

Multiple entries are combined to determine a total discount or total surcharge, which is then applied to the accumulated value.

Multiplier Each multiplier is applied separately.

Minimum Only one minimum should be applied for a single sequence number.

Example: The sample scenario below presents a calculation that requires careful sequencing. This example does not use unique sequence numbers, in order to illustrate how the default order of Rate Types can affect the sequence.

(unneeded columns have been hidden)


156Index

1. A Flat Amount is added for administrative fees. With no Sequence number, and flat amounts being the second Rate Type to be processed, this is the first calculation.

2. A Multiplier is added with a Trigger. This is applied if the client is a high risk. With no Sequence number, this calculation is performed on the Flat Amount that came first in the calculation order.

3. A Rate is calculated based on the insured value. This is the first calculation of sequence 1.

4. A Minimum amount is applied, in case the insured value does not meet minimum requirements. As the second calculation of sequence 1, the minimum is only compared to the result of the Rate calculation.

5. The main Rate is now calculated based on the insured value. As the first calculation of sequence 2, this amount alone is passed to the next calculations.

6. A Discount or Surcharge is added to the main rate, conditional on a Trigger. This adds a surcharge for certain types of insured property. This is the second calculation of sequence 2, but another Discount or Surcharge exists in this sequence, causing both to be combined.

7. Another Discount or Surcharge is added with a Trigger. This provides a discount if this is a preferred client. Since we do not want to provide a discount on the Surcharge value, this is given the same Sequence number as the surcharge. If the triggers for the surcharge and the discount both evaluate as true, they are combined for a total value of 0.8 (20% discount), applied to the main Rate.

8. The calculated totals of each sequence number, including the calculations without sequence numbers, are added together to produce the gross premium amount for this Premium Type.


157Index

Effective Date and Valid Until Date

The Effective Date and Valid Until Date fields can be used together or separately to control when the entry is applied. If the effective date of the transaction is before the effective date of the entry or after the valid until date of the entry, the calculation for this entry is not applied.


158Index

Appendix D - Setting Time of Day for Policy Terms

The options in the General Information page to control the beginning and end of the policy period can have a direct effect on how the coverage period is seen by users.

This section provides a detailed explanation of these features and how they affect the Effective Period of any submissions and policies created under each master cover. A proper understanding of these features is valuable in preparing documentation, reports, and training or instructions for users.

Note: Once submissions have been created under a master cover, these settings should not be changed. Doing so could result in inconsistencies between submissions.

Display Valid Until Date With Same Day & Month as Effective Date

In the default Effective Period configuration, this option is unchecked. A date range is provided and the term extends from the Effective Date to the Valid Until date. If a renewal transaction is created, it automatically starts the day after the last day of the previous term.

With this option checked, the term is considered to be extended by one day. The extra day is automatically added to the default Valid Until date, but may be changed manually depending on master cover settings. If a renewal transaction is created, it automatically starts on the last day of the previous term, even if the Valid Until date of the previous term was changed manually.

This is most commonly used in conjunction with the Policy Start Time setting below. See the Combining the Features section for details and examples of how these features work together.

Note: This setting does not affect internal calculations such as prorating, which adjust automatically. However, any features that perform date comparisons with the Valid Until date (such as triggers and calculated fields) could be affected.


159Index

Policy Start Time

In the default Effective Period configuration, the Effective Date and Valid Until date have a start time of 12:00 AM.

This option can be changed to any hour of the day, from 12:00 AM (default) to 11:00 PM. The Effective Period extends from the selected time of the Effective Date to the selected time on the Valid Until date.

Note: This setting does not affect internal calculations such as prorating, since the Effective Date and Valid Until date are both set to the same time. However, any features that perform date comparisons with the Valid Until date (such as triggers and calculated fields) could be affected depending on the time of day used in the comparison values.

Combining the Features

Some care should be taken when using these settings, as they may make it difficult for users to determine the true Effective Period. The descriptions below detail how the system calculates the dates, and how the dates may be interpreted by users.

This is the default configuration. Time is set to midnight, and the extra day is not added. The system calculates all coverage based on the full length of all days in the date range, including the full last day. Coverage ends at the end of the last day, and any renewal begins at the start of the following day.

In situations where the last day of a term is expected to be excluded (due to company policy or local industry standards), this could create the appearance of a one-day gap in coverage between two terms. Documentation and/or training should clarify the inclusion of the last day.


160Index

In this configuration, time is set to midnight, but the extra day is added. The system calculates all coverage based on the date range, but the last day is excluded. Coverage ends at the start of the last day, and any renewal begins at the start of that last day of the previous term.

In situations where the last day of a term is expected to be included (due to company policy or local industry standards), this could create the appearance of a one-day overlap in coverage between the two terms. Documentation and/or training should clarify the exclusion of the last day.

In this configuration, a time of day is selected, and the extra day is added. The system calculates all coverage from the selected time of the first day in the date range, to the selected time of the last day in the date range. Any renewal starts at the selected time of the last day of the previous term.

Since the time of day determines the precise end of the coverage, the extra day is required. If the extra day is not selected, the time of day setting is ignored and the time is defaulted back to 12:00 AM.


161Index

Index

AAdding a Distributor 55Adding a Document or Form 73Adding a Quote Option 45Adding a Tax or Fee 107Adding an Insurer 49Adding an Insuring Condition 101Amount or Rate 140Appendix A - Workflow Event Types 127Appendix B - Prorating and Adjustments 131Appendix C - Rates 135Appendix D - Setting Time of Day for Policy Terms 145Attachment and Limit 140Automatic Processing 38CCombining the Features 146Copying a Master Cover 7Creating a Deductible 116Creating a Limit 111Creating a Manual E-mail Configuration 64Creating a New Master Cover 3Creating a New Quote Group 41Creating a Rate 85Creating a Validation Rule 94Creating an Automatic E-mail Configuration 60DDeactivating a Document or Form 83Deactivating a Master Cover 9Deactivating an E-mail Configuration 71Deductibles 116Deleting a Deductible 120Deleting a Limit 114Deleting a Rate 90


162Index

Deleting a Tax or Fee 110Deleting a Validation Rule 100Deleting an Insuring Condition 105Details Pages 12Display Valid Until Date With Same Day & Month as Effective Date 145Distributors 55Documents / Forms 73Driver Field 140EEffective Date and Valid Until Date 144E-mail Configurations 60External Services 122GGeneral Information 14General Settings 92Generating a Master Cover Report 10Guide 1, 2, 12IInsurers 49Insuring Conditions 101Introduction 1LLimits 111MManaging Master Covers 2PPayment Settings 124Policy Numbering 23Policy Settings 28Policy Start Time 146Premium Type 135Product Description 20QQuote Calculations Order 13Quote Groups 41Quote Options 45RRate Type 136


163Index

Rates 85Reference 127Removing a Distributor 59Removing an Insurer 53SSequence 142Setting a Master Cover to Draft, Test, or Live Status 5TTaxes & Fees 107Trigger Name 142UUpload Document Template 79VValidation & Workflow Actions 92Viewing and Modifying a Deductible 118Viewing and Modifying a Distributor 58Viewing and Modifying a Document or Form 81Viewing and Modifying a Limit 113Viewing and Modifying a Master Cover 4Viewing and Modifying a Quote Group 43Viewing and Modifying a Quote Option 48Viewing and Modifying a Rate 89Viewing and Modifying a Tax or Fee 109Viewing and Modifying a Validation Rule 99Viewing and Modifying an E-mail Configuration 69Viewing and Modifying an Insurer 52Viewing and Modifying an Insuring Condition 103


Copyright Notice

Copyright © 1998 - 2014 Oceanwide Inc. All Rights Reserved.

All material in this document and on this website are protected by copyright and intellectual property laws and are the property of Oceanwide Inc. ®™

No part of this document may be reproduced, stored in a retrieval system, or transmitted by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission from the owner Oceanwide Inc.®™ Printed and published in Montreal, Quebec CANADA.

Trademarks

All trademarks, registered trademarks and service marks in this document are exclusive to Oceanwide Inc. ®™.

Disclaimer

The publisher Oceanwide Inc. ®™ and authors specifically disclaim any responsibility for any liability, loss, or risk; whether corporate, personal or otherwise in whole or in part of which; is incurred as a consequence directly or indirectly of the application use; or reliance on or any of the contents of this document (documentation).