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- Life Insurance Management
- Process
- Policy review and issuance
Policy review and issuance
A policy starts with a policyholder, insurer organization and assigned owner. The coordinator adds the premium, effective date and coverage lines. The underwriter examines a specific revision before the issuance action records the carrier result.
Step by step
-
Prepare policy Insurance Coordinator
Insurance Coordinator enters the policyholder and coverage details while the policy is Draft.
- Set the contract and terms
- Updates Policies, Policy coverages, Policyholders
-
Review revision Authorized Underwriter
Authorized Underwriter examines the current revision and records an approval, rejection or return with a reason.
- Record a decision on the source revision
- Updates Review decisions, Policies
ApprovalA person approves before the work moves on. -
Issue policy Insurance Coordinator
Insurance Coordinator runs the issuance action on an under review policy and retains the carrier policy ID and issue time.
- Move under review to Issued and retain the carrier reference
- Updates Policies, Operation receipts
-
Reconcile outcome Authorized Underwriter
Authorized Underwriter checks the operation result against the persisted policy effect.
- Match action effect to policy state
- Updates Operation receipts, Policies
Who does what
Roles and permissions- Insurance Coordinator
- Prepares and executes.
- Authorized Underwriter
- Decides and reconciles.
- Auditor
- Reads the evidence.
- App Administrator
- Maintains insurer and membership scope.
Set up Life Insurance Management your way.
Start free, then use Proto to change fields, steps and approvals before your team goes live.