Edit Insurance Policy – A summary of the activity

This activity allows you to modify the details of the insurance policy. You can modify the details if the policy has not been authorized. This activity allows you to search and select the insurance policy that has to be modified. You can modify the details of a policy that is in the “Fresh” or the “Returned” status. You can include new assets to the policy. You can also authorize the policy after saving the modifications.

This activity also allows you to modify the premium payment information. The system generates a sundry payment voucher for the payment of the premium. You can also modify the details of the insurance company and any additional information that has been included about the policy. The system stores the login ID of the user and the system date along with the modified details of the policy and the payment information.

Getting familiar with the pages inside

What you can do in this activity

Retrieve asset information

Upload asset details from an external source

Maintain a temporary asset list before a policy

Modify insurance company details

Modify & Define premium pay schedule

Retrieve asset information

A number of assets can be attached to a policy, while the policy is modified. The system retrieves the information of the assets that have been capitalized from the “Asset Capitalization” business component. An asset can be covered under multiple policies. The system maintains a count of the number of policies that cover an asset. When a policy is raised, the policy count of the asset is increased accordingly. Assets can be added or deleted from a policy if it has not been authorized.

• Go to “ Edit Insurance Policy” page.

Upload asset details from an external source

While modifying, the policy assets can be included to the policy from an external source also. This external source could be an MS-Excel sheet or an external database also. Assets can be added or deleted from a policy if it has not been authorized.

• Go to “Edit Insurance Policy” page.

Maintain a temporary asset list before a policy

Multiple searches can be carried out to include assets to a policy during modification. The search results are stored temporarily before creating the policy. The assets selected after every search is appended to the list temporarily.

•  Go to “Edit Insurance Policy” page.

• Get and add assets to the list.

Modify insurance company details

All the details of the insurance company can be modified.

• Go to “Edit Insurance Company” page.

• Modify the necessary information

Modify & Define premium pay schedule

A pay schedule for the payment of the premium can be defined if a blanket payment has not been made. The payment schedule details of a policy can be modified if the policy has not been authorized.

• Go to “Payment Information” page.

• Modify the necessary information.