Policy Status

1. Proposal

• Trigger: The insured signs an e-signature contract.

• Process: The policy status is set to 'Proposal' indicating that it is awaiting further action.

2. Review

• Trigger: The broker submits the required additional policy information and documents.

• Process: The submitted documents and data are reviewed by a customer service agent. If additional data or corrections are needed, it goes back to the broker for more information.

3. Active

• Trigger: Approval of the policy by a customer service agent.

• Process: Upon approval, the policy becomes active. Certificates of Insurance (COI) for all active policies associated with the insured are generated and sent to both the Insured and the Broker.

4. Cancelled

• Trigger: Policy cancellation initiated by any party.

• Process: The policy status is updated to 'Cancelled' which triggers notifications to relevant parties and cessation of coverage.

5. Expired

• Trigger: The current date surpasses the expiration date of the policy.

• Process: The policy status is automatically updated to 'Expired' to indicate that the policy coverage period has ended.

6. Non-Renewal

• Trigger: The insured opts not to renew the policy.

• Process: The policy is marked as 'Non-Renewal' ahead of its expiration date, indicating that it will not continue beyond the current term.