Cancellation Reason Types

The Cancellation Reason Types configuration is used for the Policy Admin module. This setting triggers the calculation for Requested End Date and Final End Date fields during a policy surrender process.

Below, an example of the Cancellation Reason Types list:

For the Personal Accidents product (Life Term flows), the following reason types are already set using the Cancellation Reason Types functionality:

• Cancelled

• Cancelled by client

• Closed by Claim

• Decline by screening

• Insured Death

• Pet Passed Away

• Property sold

• Withdrawal

Cancellation Reason Types can be added, edited or deleted. In order to do so, take the following steps:

To add a new record into your Cancellation Reason Types configuration list for your insurance module, follow the steps:

1. Open your FintechOS portal and click the main menu at the top left corner. The main drop-down opens. From the drop-down choose Settings.

2. Inside the Settings menu, click on Cancellation Reason Types. The Cancellation Reason Types List page is displayed.

3. In the Cancellation Reason Types List page:

• To Add a new record, click Insert, at the top right corner of the page. Use the pop-up window to insert the Name of the bank holiday and the date selector to set the invariant Date.

• To Edit a record from the grid, double click it and use the edit window to insert your updates. Click Save at the top right corner of your screen.

• To Delete a record from the grid, select it and click Delete, at the top right corner of the page.

Below, an example of the Cancellation Reason Type insert form: