You can adjust policy that is Active / Expired / Pending Termination.
To adjust the policy, click on Adjust button, it will create an adjustment quote.
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If policy has outstanding adjustment quote, it will show a confirmation:
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If you accept, click on OK button and system will discard the existing adjustment quote and start a new adjustment quote.
On adjustment quote screen, you will go through the steps that are similar to ones that you went through when making the policy. However you cannot change the Start date and End date of the policy. You need to specify Effective date which is the date that the new changes will be effective and make other changes on demand.
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At Review step, if the changes affects the premium, you can see the delta on Premium section as well as the new premium.
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| Table of Contents | ||
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1. Introduction
Seamless offers you the flexibility to adjust an active, expired, or pending termination policy to reflect customer changes.
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Adjust action in Seamless can be utilized for both endorsement and adjustment. |
a. Before you begin
You need permission “MTA policy” to do this.
2. MTA a policy
Access to a policy
Click on the Adjust button
If there is an outstanding adjustment quote for the policy, a banner will appear at the top to notify you. You can click on the adjustment quote link will redirect you to the Adjustment Quote screen.
Seamless will create and navigate you to an adjustment quote
If the policy has an outstanding adjustment quote, you will need to confirm whether you want to override it with a newly created one.
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You can start updating the adjustment quote. Please notice that you cannot change the policy start date and end date, only the effective date can be updated
/003 in the quote reference represents the number of policy adjustments.
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At the Review step, you can see the new premiums and the delta on the Premium section
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When you are satisfied with all the changes in QAs and premiums, click "Accept" to proceed with purchasing the quote. Depends on the policy's payment mode (whether it is an upfront payment or a collect payment later), and the quote will be processed accordingly.
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After the adjustment quote is successfully purchased
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, you
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will be able to view the most recent changes on the policy details and timeline.
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The changes reflected on the following sections reflect the changes:
Policy Info: The
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recent effective date, policy premium, and annual premium.
Policy timeline: A new version
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will be added to the timeline.
Premium: the
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recent policy premium and annual premium.
Payment schedule:
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the recent payment plan. Seamless will assess the new policy premium, the current installment schedule, and the status to determine if there will be a new
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installment or an update to the existing installments.
Documents:
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If policy has outstanding adjustment quote, there will be a banner on the top to notify that. Clicking on the adjustment quote link will redirect you to Adjustment quote screen.
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the recent policy documents