Premiums and issuance

The premium on a policy is the price recorded for that policy. A premium receipt is a separate event with an amount, received date, provider event identifier and verification state. Policy Operations uses both records when preparing an issue handoff. A carrier policy identifier and issue date belong on the policy after carrier confirmation. The team can then distinguish an issued policy from an active one as the policy moves through its recorded statuses.

A receipt marked unverified deserves investigation before staff treat it as settled money. The provider event identifier lets the team reconcile a specific event with the relevant policy. If the amount differs from the recorded premium, staff should check the carrier terms and the payment event and document the resolution in their operating process. The receipt record alone does not alter the policy premium.

• Issue record. Policy Operations records carrier identification and issue date against the policy already reviewed.
• Premium receipt. Policy Operations links each received event to that policy, preserving its amount and event identifier.
• Verification. Policy Operations checks the event and changes the receipt’s verification state after the comparison.

Agree which carrier confirmation is sufficient to enter issue details. Decide who verifies payment events and who resolves an amount mismatch. A provider event identifier should be captured consistently so staff can recognize a duplicate or retry from the payment service. The organization currency and the USD premium field should be reviewed together when the team prepares customer communication.

Choose a pilot policy that has a known carrier identifier and payment event. Follow its review decision through issue details and receipt verification. Staff should be able to explain which record shows the offered price, which record shows money received, and which external reference was checked. Give the person who verifies receipts access to the linked policy but keep benefit decisions with the separate claims role.

Policy Operations receives carrier confirmation for an approved trip review. It checks the policy’s owner, effective date and premium, enters the carrier policy identifier and issue date, then records the appropriate policy status. A payment event arrives with its own amount and provider event identifier. The team links the receipt to the same policy and verifies it against the provider record before marking it Yes.

Now repeat the exercise with a second event whose provider identifier matches the first one. Staff should investigate that event rather than count it as a fresh payment. Rehearse a failed carrier operation too: its receipt may say Failed or needs review and has an action, key and failure reason. The team resolves that result before recording an issue as confirmed. This keeps the policy history understandable when a retry occurs.

• Issued policies — Policy Operations sees policies with recorded issue dates, carrier identifiers and premiums.
• Unverified premiums — The team finds receipts still marked No with their payment event identifiers.

See policy issuance and premium verification.