UW Issues/Activities/Contingencies
The most common type of blocked transaction that can be quoted, but the binding of the policy is blocked until approval is received, is known as what kind of UW Issue?
What is a Block Bind transaction?
Includes documents such as Intro to Dec, Declarations and Endorsements
What is a Policy Packet?
The number of screens that the system tells the user there is one or more outstanding contingencies on the policy
What is 5?
The # of contingencies originally on this policy?
What are 2?
If documentation for Steer Clear is not received and is systematically removed, this heading will display over the contingency
What is Closed without Satisfactory Resolution?
This occurs when an action is taking place and that action triggers further review or approval needed by Underwriting, and can be considered a "to do" item that must be completed.
What is an UW Activity?
This needs to occur when an insured is new to State Farm, or moves from a Legacy state to a PolicyCenter state, or when a customer returns after being out of force more than 15 days, or when an existing customer wants to add a vehicle that doesn't meet same MCP criteria as existing policy.
What is when a new submission is applicable?
The reason for the contingency on the policy
What is Steer Clear Documentation Follow up?
Number of drivers in the household eligible for Steer Clear (and screen you can find this)
What are two and Quote?
Screen(s) you would use to review the Insurance Risk Score and Insight Score for Insurance
What is Risk Analysis Screen - Credit Characteristics tab
This type of activity triggers when an UW Issue blocks bind/issuance and the sales associate has requested review for Underwriting approval.
What is review and approve?
How PolicyCenter handles out-of-state existing customer moves
What is: When an existing customer moves to a new state and a PolicyCenter submission is completed, the system will search for a match of both client and vehicle(s), and if match is found, a policy transaction to either cancel the policy or remove that vehicle will be systematically processed?
The screens you would need to review to determine if the Steer Clear Program Documentation been received (and has it)?
What is No it hasn't been received on the Risk Analysis - Contingencies tab or Documents.
Status of the policy contingencies
Matching Named Insured, Policy-Level coverages, Company Placement, Agent, Use type, term length and GRP.
What is PolicyCenter multi-car criteria?
After completion of reviewing an UW Issue, the user will have two options to resolve the case. Those two options are:
What are Approve or Reject
When processing an UW Issue for a submission transaction, if approving the UW Issue, the transaction will then be ______ (quoted, issued, drafted, or released back to the agent)?
All approved submissions will be released back to the agent so they can collect payment and issue the policy.
The date documentation is needed by and if not received, what action will occur.
What is 5/26/22 and systematic change policy retroactively if not received (discount removed as of the date it was added)
# of vehicles participating in DSS
What is 0?
To name a few; keeping up with competitors, modernizing technology, holistic view of customer information, simplifying the added car process, and ease and consistency for customers.
What are benefits of modernizing to a multi-car policy.
This is used when a transaction is completed but may need additional work, as well as this is used to manage systematic actions if conditions are not met within an allotted timeframe.
What is a contingency?
Some examples of contingencies that may occur on Submissions
What are: Foreign license follow-up, VIN Error follow up, Defensive Driving and Steer Clear documents
What are proof of grades that aren't needed in PolicyCenter
If documentation is reviewed and determined it is related to a contingency, what should the user do?
What is review the contingency and manually resolve if not done systematically
Policy 2204861 - Number of claims on the policy and used in consideration of the submission quote
What is 1? SF Claim 10/06/16