New placeholders have been introduced for calculated fields to access the premium information from the previous term. The placeholders can pull in totals for individual premium types, or the total premium for all premium types.
When a renewal is created, the premium information is copied from the existing term into the new renewal term. This information is then available for calculated fields, which can in turn be used for formulas, triggers, generated documents, and e-mails.
Notes: Since the information is copied into the renewal transaction, if any changes are made to the previous term (such as endorsements) the premium details saved in the renewal transaction may no longer be valid.
If the renewal has not yet been bound, it may be possible to delete it and create a new renewal transaction with the updated premium details.
In addition, any renewals created before this release will not have the previous term data. Again, unbound renewals may be deleted and recreated to make the data available.
The following placeholders can be used in calculated fields:
To pull the total amount of a specific premium type by name:
[[PreviousTerm/Premium/PreviousPremiumInfo[PremiumType='Name']/Amount]]
To pull the total amount of a specific premium type by ID:
[[PreviousTerm/Premium/PreviousPremiumInfo[PremiumTypeId='#']/Amount]]
To pull the total amount of all premium types:
[[PreviousTerm/Premium/TotalPremium]]
For more details on using these new placeholders and identifying individual premium types, please see the Calculated Fields Reference Guide - 1.7.4.
While working in the system, it is possible to accumulate a large number of unneeded transactions. A user may accidentally create an endorsement instead of a renewal, or a renewal may be created a few weeks in advance, only to have the client cancel the policy in the last few days.
Previously, some of the "Abandoned" transactions could just be ignored, but other transactions might interfere with the administration of the policy. In the second example above, the policy could not be cancelled because a renewal has been initiated.
These transactions can now be deleted, cleaning up the policy trail and removing the restrictions imposed by some types of transactions.
The Delete Policy Transaction security right has been created and added to the Underwriter and Underwriter Supervisor security roles by default.
Users with that right will have the Delete button as an option when viewing transactions of the following transaction types and statuses:
•Transaction Type: New Business, Endorsement, Reinstatement, and Renewal.
•Status: Incomplete, Underwriting Required, Quoted, Referred, Special Quote Requested, and Bind Requested.
Bound and Declined are "Final" statuses, so transactions in those statuses cannot be deleted. Transactions in Lost status cannot be deleted, but they can be returned to Quoted status and then deleted.
On clicking Delete a confirmation message will be displayed. On confirming the deletion, the transaction will be removed from the system.
The Delete button has been added to the Options sections of the appropriate transactions in the Bridge Workflow Guide - 1.7.4 - Underwriter document.