Flow Parameters and Scheduled Jobs

This parameter sets the number of days after an unpaid installment’s due date, registered on a policy. When the DAUDD parameter is fulfilled, the policy is transitioned to Lapsed status.
For example: the Lapsing Day of a policy is triggered after the passing of the chosen number of days since the Last Installment on that policy moved to Unpaid status.

This parameter correlates the starting date of the Renewal process with a given number of days before the End Date of a policy.
For example: it is required to start the Renewal process within 5 days before policy reaching its End Date. As a result the parameter is set to 5 days.

For policies with last installments in Unpaid status.
This job automatically moves policies from Enforced to Lapsed status, when the DAUDD parameter is fulfilled.

When in Lapsed, the policy is modified as follows:

1. The End Date becomes the Due Date of the unpaid installment.
2. If there are no claims registered, the Premium Amount becomes equal to the Paid Premium (sum of paid installments). If there are claims registered on the policy, the Premium Amount doesn't change.
3. If the Premium Amount is changed, the installment schedule is updated including just the paid installments.

This job looks into the system for the End Date and the NDBR parameter in order to identify the policies in InForce status that are suitable for automatic or manual renewal - for renewal offers.
The job returns the policies with Policy End Date (Initial End Date) - No of days before renewal (parameter set) = Current Date.

For the policies that are in the Issued business status, have the same Begin Date as the Current Date and have the Automatic InForce checkbox selected, at Product level.
This job verifies whether the above conditions are fulfilled and moves policies from Issued to InForce status.