Chapter - 3 : Policy Synchronization Process Message
XML Message | <PolicySynchronizationProcess>, <PolicySynchronizationProcessResult> |
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Definition | This message is the means by which policy information is shared between
brokers and insurers. This message will contain all policy information from
the client company as described in this specification. As the receiving party, the host company can choose to either overlay the existing data with the entire policy record received with each update or compare the records and make the appropriate updates.
A PolicySynchronization message is sent from the client to communicate the following policy updates. |
Schedule | When an application is first received and processed as a new business pending policy a PolicySynchronization message is sent at the time a policy number is registered |
When a pending policy’s status is updated as it undergoes the underwriting process. Policy status changes on pending policies like Pending, Not Taken, Issued, etc. will trigger a PolicySynchronization message. | |
When a policy change occurs on an issued policy such as change in coverage, beneficiary, coverage amount, policy status, etc. a PolicySynchronization message should be triggered |
Please refer to the ACORD AML schema, the XPath mapping document for Required Fields (Appendix A) and the corresponding sample AML files (Appendix B) for modeling and mapping purposes.