2.5.145 Core Release Notes

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Offset Transactions to Update Cross-Policy Data

A new setting to determine whether Offset transactions should be included in the Cross-Policy data table has been added to the system. When set to True, when an Offset transaction is created, the data is now saved in the Cross-Policy Data table in the Bridge Specialty Suite database.

If you require this functionality, please reach out to your Insurity Customer Representative.

Enhanced ETL Process

The current ETL Process which takes data from the Bridge database, transforms it and loads it into the Data Warehouse has been enhanced. The ability to disable processing of the Cognos elements if reporting is not required has been added and the data being transformed can also be divided into smaller batches so that the processing is more efficient along with automatic re-tries within the “Updating the Custom Data” step of the process if a failure occurs. (The Step number will vary depending if Cognos related steps are run).

For details on configuring the settings for the ETL process, please contact your Insurity Customer Representative.

New Integration Type for Notifications

A new Integration type, Policy Event Subscription, has been implemented in the Integrations section of Workflow Containers. This new integration type will allow insureds to be notified of updates to policies within their scope based on the selected notification criteria by a user with proper security rights. Users can select the following notification events as criteria: Transaction Type, Transaction Status, and Trigger.

As with any integration, Security Roles can be set to control what user roles will be required to enable to the integration. For information on Security Roles, please see Security Roles.

For more information on Integration Configurations, please see Managing Integration Configurations.

Note: Integration types will require an Endpoint Code in order to be implemented. For the Endpoint Code, please contact your Insurity Representative.

Cash Receipt Reversal Enhancements

The Billing module has been enhanced to now void invoices that hold at least one future charge when there is a Cash Receipt Reversal, so that new invoices are generated as per the original Payment Plan of the Policy Term. Previously, when there was a Cash Receipt Reversal, the system displayed the outstanding amount as the charge amount but the original invoice remained active.

Now, if there are any invoices in the policy term that are associated to other active Cash Receipt(s), the system will move the allocation amount of the Cash Receipt(s) to the On Account Balance (OAB) linked to the policy term. Note that if the Charge Type is Billing Adjustment, the allocation amount will be moved to the OAB linked to the Bill to Party. For each invoice in the policy term, if any of the charges has a Charge Date greater than the Cash Receipt Reversal Date, the Invoice Status is automatically set to Void and the invoice Outstanding Amount is reset to 0. For each invoice in the policy term, if any of the charges has a Charge Date that is less than or equal to the Cash Receipt Reversal Date, the system will set the invoice Outstanding Amount equal to the total charge amount and the Invoice Status remains Active. The Type column on the existing Invoices Report in the Billing module has also been updated to include the status of invoices. The Type column will now display the Type followed by the Invoice Status, either Active or Void.

In order to support this functionality, the system can now identify Void and Offset transactions in the Billing system. Previously, when voiding an endorsement, the system saved the transaction type as endorsement so the Billing system was unable to identify if the transaction was void. Now, new correction types for Void, Offset, and Replacement have been added so that the system identifies these transactions and omits them when processing Cash Receipt Reversals.

A new Cash Receipt Reversal Source type has been added and is used when a Cash Receipt Reversal resulted in either voiding an invoice or moving the Allocation Amount of active Cash Receipts to the OAB. When the Cash Receipt Reversal is initiated, the General Ledger entries related to original invoices that have been voided are reversed. The following details how the reversals are applied based on the GL account and entry type.

If the Charge Type is Premium:

A debit entry is created in the Account Payable (Distributor/Insurer) GL Account for the amount linked to the invoice that was voided when the Cash Receipt Reversal was initiated.
A debit entry is created in the Tax Payable GL Account for the amount linked to the invoice that was voided when the Cash Receipt Reversal was initiated.
A credit entry is created in the Invoiced Commission Expense GL Account for the amount linked to the invoice that was voided when the Cash Receipt Reversal was initiated.
A credit entry is created in the Invoiced Tax GL Account for the amount linked to the invoice that was voided when the Cash Receipt Reversal was initiated.

If the Charge Type is Deductible (with a positive Outstanding Amount):

A credit entry is created in the Deductible Account Receivables GL Account for the amount linked to the invoice that was voided when the Cash Receipt Reversal was initiated.
A credit entry is created in the Invoiced Tax GL Account for the amount linked to the invoice that was voided when the Cash Receipt Reversal was initiated.
A credit entry is created in the Premium Account Receivable GL Account with a Charge type of Billing Adjustment for Bill to Party and Distributor Adjustment for the amount linked to the invoice that was voided when the Cash Receipt Reversal was initiated.
A credit entry is created in the Deductible Account Receivables GL account for the amount linked to the invoice that was voided when the Cash Receipt Reversal was initiated.
A debit entry is created in the Deductible Recovery - Indemnity GL Account for the amount linked to the invoice that was voided when the Cash Receipt Reversal was initiated.
A debit entry is created in the Deductible Recovery - Expense GL Account for the amount linked to the invoice that was voided when the Cash Receipt Reversal was initiated.
A debit entry is created in the Adjustment Revenue GL Account with a Charge type of Billing Adjustment for Bill to Party and Distributor Adjustment for the amount linked to the invoice that was voided when the Cash Receipt Reversal was initiated.

If the Charge Type is Billing Adjustment (Bill to Party and Distributor Adjustment):

A debit entry is created in the Tax Payable GL Account for the amount linked to the invoice that was voided when the Cash Receipt Reversal was initiated.
A debit entry is created in the Adjustment Revenue GL Account for the amount linked to the invoice that was voided when the Cash Receipt Reversal was initiated.
A credit entry is created in the Invoiced Tax GL Account for the amount linked to the invoice that was voided when the Cash Receipt Reversal was initiated.
A credit entry is created in the Premium Account Receivables GL Account for the amount linked to the invoice that was voided when the Cash Receipt Reversal was initiated.

A new Receipt Reversal Source Type for General Ledger Accounts has been added for any invoices in the policy term that are associated to other active Cash Receipts. The following details how the reversals are applied based on the GL account and entry type.

A credit entry is created in the Advanced Premium GL Account for the Allocation Amount when the Cash Receipt Reversal is initiated.
A debit entry is created in the Premium Account Receivables GL Account for the Allocation Amount when the Cash Receipt Reversal is initiated.

For details on Reversing a Cash Receipt, see the Cash Receipt Reversals section.
For details on managing invoices, see the Managing Invoices for Cash or Refund Receipts section.
For details on General Ledger Account entries, see the General Ledger Accounts section.

Billing Records Created for Imported Deductible Charges

Previously, billing records for Deductible charges were only created if the user previously imported Premium Charges prior to importing the Deductible charges, or if the transaction details were provided in the Import Deductible charges web service request.

The system will now create the appropriate billing records when importing Deductible Charges against an imported policy, using the Import Charge Web service even if the transaction details are not provided in the request. The system will use the term transaction (New Business, Renewal, or ERP Endorsement) to attach the deductible charges being imported.

Once the charge is imported, users can navigate to the Charges Report screen to review the imported charges.

For details on using the Import Charges web service, contact your Insurity Account Representative.