While the system supports deletion of bound transactions, some users would prefer to keep the transactions in the system for reference and auditing purposes.
The new Void action allows bound Endorsement and Adjustment transactions to be reversed, while keeping the transaction in the system with all data and associated attachments, documents, and e-mails. All effects of the transaction are removed or reversed. The existing transaction is marked with Void in the new Correction Type field, which is visible in the policy information as well as in the Status columns of policy and transaction lists.
A new transaction is automatically created and bound, with Offset as the Correction Type. This new transaction is used to reverse charges, taxes, and commissions from the original transaction. The new transaction will be a duplicate of the voided transaction, other than the reversed values and no attached files, e-mails, documents, or notes will be duplicated.
When voiding a transaction, a reason must be selected. The available reasons are configured as an Option List with a Resource Type of Void Reason. This new option list is selected in the Types panel of the Master Cover - Policy Settings page.
A new Workflow Event Type of Void has been added, allowing automatic e-mails to be sent when a transaction is voided. Four new placeholders have been added for use in such automatic e-mails.
•Void Reason Name: [[VoidReasonName]]
•Void Reason Code: [[VoidReasonCode]]
•Void Reason Details: [[VoidReasonDetails]]
•Correction Type: [[CorrectionType]]
The ability to void transactions is controlled by the new VoidPolicyTransaction security right. This right is not included in any default security roles, but will be automatically added to any existing roles that include the DeleteBoundPolicyTransaction right.
The Void option is available in the Actions widget when viewing certain transactions. This applies to Endorsement and Adjustment transactions in Bound status. The transaction must be in the last bound term of the policy, and must be the most recently bound transaction in the term. Existing Void and Offset transactions are not counted, so multiple transactions can be voided by working backward from the most recent.
Once the transaction has been voided, the void and offset transactions are available in the Policy Transactions list.
A future enhancement has been planned to allow a Void transaction to be copied to a new Replacement transaction.
The feature to automatically expire quotes after a certain period of time has been enhanced, allowing the expiry date to be taken from a field in the workflow.
In the Automatic Quote Expiry panel in the Master Cover - Automatic Processing page, the new Expiry Basis field can be used to select if the expiry date should be a preset value based on Transaction Type, or if the date should come from a Field.
Selecting Transaction Type uses the existing functionality, revealing fields where specific periods can be defined for different transaction types.
Selecting Field reveals the Expiry Field option. A Date Picker field can be selected from the workflow associated to the master cover. This can be a user-entered field, or a calculated field that determines the date according to conditions or values within the transaction.
− For details on configuring auto expiry of quotes, see the Automatic Processing section.
A new feature has been introduced, allowing the system to initiate cancellation of policies based on triggers. While non-payment of premium would be a common reason for cancellation, this can be based on any conditions available for trigger configurations.
The new Automatic Cancellation Initiation panel has been added to the Master Cover - Automatic Processing page. If the feature is enabled, a trigger and the default cancellation reason can be selected.
For consistency between options, the Automatic Renewals panel has been relabeled as Automatic Renewal Initiation, and the settings in that panel are only displayed when the feature is enabled.
The following fields have been made available for selection in triggers.
•(BILLING) Term Total Overdue Amount
•(BILLING) Term Earliest Overdue Invoice Due Date
•(BILLING) Term Total Payment Amount
Note that these fields are indexed internally. For a trigger to use these fields in combination with fields from the Policy module, the policy fields must be indexed in a Cross-Policy Data Configuration.
A new Set Cancellation Effective Date to field has been added to the Effective Coverage Period Settings panel in the Master Cover - Policy Settings page. This allows the initial effective date of the cancellation to be set to the current date, or taken from a field in the workflow. The effective date can be modified after the cancellation process has started.
− For details on configuring automatic cancellations, see the Automatic Processing section.
A new report is available from the Common Screens widget in the policy workflow. The Event Tracking Report lists a range of events that occurred during processing of the current transaction, and provides a detailed breakdown of the operations, activities, and steps that were processed during that event.
Access to this report is controlled by the ViewEventHistory security right, which was introduced in version 2.4.77. This right is not included in any default security roles.
Note: This feature does not support custom portals. When accessing the report from a custom portal, the new tab or window will revert to the default portal.
Known Issues:
•An error will occur when trying to open the report from within a custom portal. To work around this issue, the portal URL Extension can be manually deleted from the URL. This issue should be corrected in the next release, allowing the report to automatically revert to the default portal.
•The event list is not restricted to the current transaction, displaying all recent transactions. This issue should be corrected in the next release, only displaying the events for the current transaction.
•The sorting and filtering options are not functional for certain columns in the events list, and will result in an error message at the bottom of the grid. This issue should be corrected in the next release.
•The Triggered By column in the events list is currently not being populated. This issue should be corrected in the next release.
− For details, see the Event Tracking Report section.
Two new functions have been added to retrieve the total amount of a specific tax or fee, across all premium types, within a transaction or term.
The GetTransactionTaxAmount() function returns the total amount of the specified tax or fee within the current transaction.
The GetTermTaxAmount() function returns the total amount of the specified tax or fee for all transactions within the current term, except for the current transaction.
The new functions are detailed in the Functions section.