Intro Kickstart Lessons 1 Flashcards
Accounts, Policy Transactions, Matching Exercise, Policy File, Product Model Intro, Full App Sub
What is the purpose of an account?
An account gives PolicyCenter users flexibility to create and manage a customer’s account independent of policies with which the account may be associated.
What is the name clearance function?
The name clearance function is utilized by PolicyCenter to ensure that a person or company is not an existing account and that they are not represented by another producer for the given policy type.
How many policies can fall under an account?
Account to policy ratio is a 1-0 (one account with 0 policies) or 1-many (one account with one or more policies) relationship/
How many accounts can a policy be attached to?
One.
Is a transaction a job? Explain.
The term “policy transaction” is typical in the industry and is used in the UI. The term “job” is used in the data model, in UI config, and in business rules.
A customer calls and wants a new policy for another term at the end of the policy term. What transaction is the customer asking for?
Renewal
A customer wants a new coverage on an existing policy. What transaction will best suit this need?
A policy change is most obvious, but a rewrite may also be needed in some cases depending on coverage details.
Match the following:
A) Account
B) Audit
C) Business Rule
D) Cancellation
to the definition:
1) A person or organization which has or may have one or more policies.
2) A block of code that specifies logic that can be executed during a job (such as verifying that a policy has enough data to be quotable).
3) A policy transaction which ends the policy before its expiration date.
4) A policy transaction which replaces estimated data that influences the premium with actual data.
A - 1
B - 4
C - 3
D - 2
How many policy files can be associated with an account?
Zero, one, or many.
Of the primary entities discussed in this lesson (other than policy), which entity:
A) Is the money the insured pays for the policy?
B) Is a risk exposure that can be protected by the policy?
C) Is a physical document detailing some policy aspect?
D) Can either by created on the policy or created on the account and reused on the policy? (2 answers)
E) Is a value that further limits or defines the coverage?
A) Premium
B) Coverable
C) Form
D) Location or Contact
E) Coverage Term
Explain the purpose of the product model in terms of products, policies, and coverages.
The product model describes how product and policies, including coverages and coverage terms, are configured in your version of PolicyCenter.
A stakeholder insists that the UW rules be configured in the product model. Does this request make sense, based on what you have learned in this lesson?
This request doesn’t make sense because the UW rules are configured outside the product model.
Based only on the submission wizard, what is the main screen which will likely trigger an UW issue first?
Pre-Qualification is the screen that will likely trigger a UWI first. Other issues may be triggered later.
Where do UWIs appear?
On the Risk Analysis screen - UW Issues tab.
Where do users specify modifiers?
In the LOB-specific section. For example, Commercial Auto has a dedicated Modifier page.
