Instalment Policies - Exceptions & Troubleshooting

Modified on Thu, 15 May at 3:54 PM

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Sunrise Instalment - Vero & Custom Home Insurance

Migrated Instalment Policies from Sunrise Vero & Custom Home Insurance

Renewal received on Sunrise via Sunrise Import function

Sunrise Instalment - Vero & Custom Home Insurance

There are two known insurers who are able to offer instalments via Sunrise, however, are not compatible with INSIGHT instalments. These insurers are Vero Insurance and Custom Home Insurers. You will be able to quote and receive renewal terms, however, at the point of binding, you will need to convert to a manual transaction. Below are the steps for how you will need to transact these particular instalment policies for these insurers in INSIGHT.

Migrated Instalment Policies from Sunrise Vero & Custom Home Insurance

Brokers who are migrating and have instalment transactions via Sunrise for these two insurers, will have those policies come across with no debt, and converted to a manual interface when the data is migrated into INSIGHT. This effectively means that the policy is no longer an EDI transacted policy and will revert to a normal manual process as any other non-EDI policy. Endorsements, cancellations or the subsequent renewal will need to be done manually with the insurer. At renewal, the insurer will be required to supply terms via renewal import electronically, or manually. Below is the method to deal with either of these options, to effectively handle these policies it is best to have two policies set up, one allows you to renew the policy on sunrise, the second is your manual instalment policy. All endorsements on these policies will be processed as non-EDI on the Manual Instalment policy

Renewal received on Sunrise via Sunrise Import function

1. Confirm the renewal is available on the Import List.

2. Locate the Manual Version of the imported policy to be renewed.

3. Select Renew.

4. In the dropdown for Interface, select Sunrise.

5. In the dropdown for Import Renewal, select Yes.

6. Select Next to be directed to the import list.

7. Locate and select the policy from the list.

8. Select Next, complete the transaction and Post to Accounts.

NOTE: The renewal will come down as an annual policy and will result in a debt created on the client’s account.

9. Remove the debt created by this transaction – endorse the policy changing the interface to Manual with the negative version of the premium in order to reverse it out.

10. Return to the Client profile.

11. Select Take Up.

12. Enter the dates for the prior 2018-2019 will later be renewed as 2019-2020 period.

13. In the dropdown for Included or reported as, select Renewal.

14. Keep the Interface as Manual.

15. Select the Class of Risk and Insurer.

16. Complete the transaction and select Take Up policy.

17. Locate the Take Up transaction and select Renew * This will carry through with the current period. 18. Keep the Interface as Manual.

19. Select the Class of Risk and Insurer.

20. In the Instalments dropdown, select Yes.

21. Complete the transaction and Post to Accounts.

New Policies

To create a new policy using these products the principals are the same, 2 policies will need to be created.

1. Select Add New Business

2. Keep the Interface as Sunrise.

3. Select the Class of Risk and Insurer.

4. Complete the Sunrise placement and the policy wizard in INSIGHT by posting to accounts.

5. Remove the debt created by this transaction – endorse the policy changing the interface to Manual with the negative version of the premium in order to reverse it out

6. Return to the Client profile.

7. Select Add New Business.

8. Keep the Interface as Manual.

9. Select the Class of Risk and Insurer.

10. In the Instalments dropdown, select Yes.

11. Complete the transaction and Post to Accounts.

* All future Endorsement will be made on this Manual policy

Hints & Tips

Make sure the debits and credits are allocated to each other on both the insured and insurer records as soon as possible to avoid confusion
To keep track of which is Sunrise and which is manual, add Information to your brief description field
Discuss this approach with your team and agree on a process that works for all