Policy Administration 24.3

February 7th, 2025

This release brings several improvements, including to the payment schedule, coverages, alterations, and API.

What's New

  • You can now choose the preferred day for the due dates generated in the policy payment schedule.
  • You can add specific grace periods to each of the payment type associated to a policy.
  • Sub-coverages are now displayed in the Modules section inside policies.
  • We've improved the user experience when working with Masterpolicies and made it easier for you to quickly access several operations with such policies. The Initiate Alteration, Reinstate, and Cancel buttons are now available at the bottom of the form when viewing a Masterpolicy.
  • You can make alterations to policies created with the new Product Factory.
  • An error message will be displayed if you attempt a policy alteration that leads to failed underwriting. The same applies if manual underwriting analysis is needed after attempting a policy alteration. This ensures that only alterations that pass underwriting analysis are processed.
  • The Policy Admin configuration form now comes with enhancements like:
    • Section Pricing rules
    • Section Policy rules
    • Overlapping Policies
    • Claims Section: with the option to set the Claim Notification Period Limit in hours

APIs

Integration with Product Factory APIs and Decoupling from Proposal Configurator

To improve performance and reduce dependency on the Proposal Configurator, backoffice APIs have been refactored to use Product Factory APIs to process requests. As part of this change, several endpoints have been enhanced as follows:

  • When calling the PolicyGenerationAPI endpoint, populating the productCategory field in the policyList input parameter now triggers the new processing logic based on Product Factory APIs. For backward compatibility, the quoteConfigCode field remains available to continue supporting legacy calculations via Proposal Configurators.
  • The PolicyGenerationAPI endpoint now includes inputs for sub-coverages to support pricing calculations based on the Product Factory APIs. Use the policyList > insuranceProductItemList > subCoverages input field to specify the relevant sub-coverages for the Product Factory pricing formulas.