Navigation, Definitions and Understanding Payments
What tab in account and policy level takes you through to billing center?
What are the 2 types of delinquency plans?
Insufficient funds, and Other
At any given time, a policy can have only one active payment method on file. Is this statement true or false?
True
What flow on the Refund Process Guide do we follow if a refund is due outside the cooling off period and there is at least one payment instrument listed on the payment instrument screen?
The orange flow
List three processes you can perform in only in billing centre,
Track invoices and payments, issue refunds, update payment instruments, payment request etc.
When should a TROUBLE TICKET NOT BE USED?
To delay a scheduled payment
How many payment options does the customer have, and what are they?
Three. Annual Instalment, Monthly Instalment and Annual Pay in Full
What do we advise customers about the refund timeline, and what should they know about premium refunds of $2000 or less?
We generally advise the customer the the refund can take up to 10-15 business days. It is important to know that the Premium refund amount $2000 or less may be subject to a 10-day holding period before being issued to the customer.
Will a monthly instalment policy always have 12 invoices in the invoice stream? Answer and explanation required.
Not necessarily always. If the customer has made a change to the invoice dates that results in a double deduction there can be 11 invoices in the stream.
What are 4 types of holds can be used for a trouble ticket?
Delinquency, Invoice/Statement Sending, Payment Distribution (Account Level), Disbursements (Account Level)
What steps are required to update the payment instrument for a policy that already has a renewal generated?
We need to add the new payment instrument on both, and override and retire the old PI on both.
The system will not allow a First Deduction Date to be more than ____ days from the policy start date on renewal.
14
What are the 4 invoice status that can show on a policy?
Planned
Due
Billed
Carried forward
THE RETENTION TEAM WORK DIRECTLY ON THE GUIDEWIRE QUEUES AS THEY DONT RECEIVE ANY REPORT FROM GW. True or False?
False. They get reports.
Provide the steps on how to generate a payment summary for the whole term.
go to payment schedule > payment summary > enter inception date > enter end date > click on generate payment summary
In what situations can a customer transfer funds from one policy to another, and what is the key requirement for these transfers to occur?
These transfers can only happen if the policies are both within Guidewire.
When a customer calls to ask about their missed payment, or ask how much is owing, what must we look for in the account and policy level, in either Policy Center or Billing Center (list 5)
Amounts outstanding
Reason for missed payment
Any unapplied Funds
If there are other policies with dishonoured payments
Notes
Documents sent
This question relates to dishonours for insufficient funds on instalment policies.
Presuming only 1st attempt has been actioned and the insured has now called and advised no money on current payment instrument, but they want to make a payment now.
What actions would you take?
Take payment via real time payment request or payment request, and update PI on file.
Provide all 6 steps required for a Payment Request in order.
click on actions
new payment then payment request.
select the relevant invoice.
confirm the draft date.
confirm if the PI is up to date.
click finish / complete.
This item, created well in advance of its due date and sometimes hidden from certain users, requires support intervention to alter its payment schedule. What is it?
Renewal Draft