Procedures
What does STP stand for?
Straight Through Processing!
When does the Drivers List QFR Prep Task generate?
When there are 3 or more drivers
How many days before a Renewal does a QFR generate?
90 Days!
What is the service standard for anything in the Renewal Queue?
7 Business Days based on Available on date
Who is a REN note made for?
The Underwriter! When you seen a REN watch note, that is typical for the Underwriter to review.
When does a Renewal Follow Up Task generate?
The Follow-Up task will generate after the renewal successfully books.
What is the Premium Threshold for Straight Through Processing?
CL $5,000
SL $10,000
What screen do we use in Emulator to set up Scheduled Booking?
CM14!
When do "REVISE" tasks need to be completed by?
Every ___ years, the Specific Rates on Renewal QFR Prep Tasks Generates.
How many years?
3 Years!
True or False:
There are some UW Rules that apply to USS's
True!
Some rules do require USS action:
UW Rules
Some rules apply to USS’s, exampels:
-UW Rule #315c – Account/Renewal Rewards does not line up with eligibility
-UW Rule #121A – Amend “Cost of Hire” fields to match on Hired/Borrowed
If you cannot Schedule Book a policy, and you have to manually book it, how do you determine what day it needs to be booked?
You can:
-Use the Transaction Calendar!
-Manually calculate 45 days prior to renewal effective date
When does a QFR Start with the USS?
If the QFR has an ADM note
Which of the following is a Renewal Follow Up Task?
Statement of Values (SOV)!
What is Scheduled Booking?
The ability to set the QFR for automatically converting and booking at a set prior to QFR effective date.
Name the 3 things that stop Straight Through Processing
UW Rules
Booking Edits
Watch Notes
What does it mean when the QFR meets the following criteria:
UW Rule
Ren Note
Booking Edits
NO ADM Note
The QFR Will Start with the Underwriter!
When we receive the Experian Report QFR Prep Task, what is the criteria it should have before we order a new Report?
When will a policy book if it has been set up for Scheduled Booking?
It will book 45 days before the effective date of the Renewal policy!
True or False, the following account qualifies for schedule booking:
-No REN notes
-Less than $10k
-Account is clone
-No booking edits
False!
If the account has been cloned, it will not be able to be schedule booked!