Renewal Invitation for an SCTP Policy

Modified on Tue, 15 Oct, 2024 at 11:12 AM

IMPORTANT: It is assumed you have attended an SCTP training course and are familiar with the SCTP interface.

Process

	Locate the transaction in INSIGHT, select Renew and Next.
	If the Renewal Invitation is ready, you can review its details in SCTP by selecting View beside the Quote Response.
	If the Renewal Invitation is not there, select Create Quote Request to send the renewal request to the insurer through SCTP. You may need to contact the insurer directly if the quote response doesn't auto-generate.
	You also have the option to select Remarket to send a quote request to other insurers.
	Once the renewal is finalised locate your desired Quote Response and beside it, select Bind.
	Once the Bound response is received, select Done in the top right corner of the page to return to INSIGHT, then select Next.
	On the Schedule page, you'll notice that the schedule has auto-downloaded from SCTP, there is no need to copy & paste the insurer schedule into INSIGHT. You have the option to format the schedule using Edit Schedule, however, every time you go in and out of SCTP, the auto-download of the schedule will occur and overwrite what is currently displayed. On the Invoice Premiums page, you'll note that most fields are uneditable - this is because the premium details are auto-downloaded from SCTP. However, you can update your Broker Fee. Depending on your setup, to update the Broker Fee, select Fee Allocation or Override.
	Complete the rest of the wizard as normal.

RELATED ARTICLES: 
Create a Renewal or Renewal Invitation
Common Transaction Wizard Page - Schedule 
Common Transaction Wizard Page - Invoice Premiums