Binding & policy issuance
Based on the product definition in InsureVue, when a policy is bound the premium is allocated to the market(s) on the product. Different coverages can be placed with different markets and multiple markets can be pooled on a coverage. InsureVue implements the policy documents to generate the declarations page, policy wordings, endorsement wordings to issue to the broker.
Post bind transactions
Post bind transactions such as mid term changes and cancellations are recorded in the system. Data is versioned to have auditable snapshots of the data at each transaction. Each transaction creates a separate bordreaux entry and will appear on the correct bordereaux month based on when it was done. InsureVue generates endorsement and cancellation documents to issue to the broker.
Renewal lists in InsureVue show each underwriter all their files coming up for renewal. Web based renewal forms can be implemented to send the broker a web link where they can view the expiring data and submit the renewal information.