9Managing Auto Policies
Managing Auto Policies
This chapter describes how to manage auto polices. It includes the following topics:
About Managing Auto Policies
In Siebel Insurance, a quote is a policy that has not been issued. An automobile insurance policy quote has one or more insured drivers, one or more insured vehicles, and one set of coverages for those vehicles and drivers. Each variation of these rating and risk evaluation (underwriting) variables is represented in Siebel Insurance by a separate quote. Because a new quote is generated for each combination of variables that a customer inquires about, multiple quotes typically are generated for customers before they choose and purchase a policy.
The Auto Policies screen allows end users to create and manage automobile insurance policies. End users can issue a quote for a new policy or for a change in an existing policy. Administrators can add auto coverage and coverage values in the Insurance Administration views. For more information on views common to all policy screens, see Common Policy Views.
Scenario for Managing Auto Policies
This scenario features sample tasks performed by a licensed sales representative. Your company might follow a different workflow according to its business requirements.
In this scenario, a licensed sales representative for an auto insurance company is on the phone with a prospective customer.
She uses the Quick Quote view to prompt the customer for enough information to provide an initial quote. Then, she adds underwriting information and runs an underwriting report to obtain the rest of the information she needs. Next, she enters information about vehicle coverages and value. Then she adds adjustments for policy discounts and feeds the revised data into the external rating calculator to view the resulting premiums. She gives the prospect a verbal quote and ends the conversation.
The next day, she receives an email message that the prospect has called back and will probably purchase a policy, but requires a new quote with a $250 deductible instead of $100.
During the second call, the prospect confirms the intent to purchase the quoted policy. The quote now needs to be prepared for eventual contract issuance. This includes collecting information about any parties that hold liens against the insured vehicles and determining billing and payment arrangements. The sales representative follows the procedures implemented by her company to submit the policy for issuance and billing.
In this scenario, end users are the sales representatives who manage auto policy information. They enter information to:
Provide auto insurance policy quotes
Add underwriting information
Order underwriting reports
Add the appropriate discounts
Add vehicles or drivers to a policy
Set up payment plans
Process of Managing Auto Policies
This section details sample tasks often performed by administrators and end-users when managing auto policies. Your company might follow a different process according to its business requirements.
Administrator Procedures
The following administrator procedure is described in this section:
End-User Procedures
The following list shows a task end users typically perform when managing auto policies:
Adding Auto Coverages and Coverage Values
The Administration - Insurance view allows you to add and make changes to auto coverages, driver coverages, and auto coverage values. You can use the existing fields to define the default limits and deductibles of auto coverages, or you can add more fields using Siebel Tools. For more information, see Configuring Siebel Business Applications.
To add an auto coverage and coverage value
Navigate to the Site Map, Administration - Insurance, then Auto Coverages.
In the Coverage Administration list, add a record and complete the necessary fields.
Note: If you leave the Vehicle Type field as null, the coverage can be used for driver coverage. If you select Private passenger vehicle in the Vehicle Type field, the coverage can be used for auto coverage.Scroll down to the Coverage Values list.
In the Coverage Value list, add a record and complete the necessary fields.
Providing Quotes
In Siebel Insurance, a quote is a policy that has not been issued. End users can provide a quote for a new policy or for a change to an existing policy. The Quick Quote view provides a faster way to gather basic policy and rating information. The information collected through the Quick Quote view represents the minimum rating information needed to create an initial premium estimate.
To provide an auto insurance policy quote
Navigate to the Auto Policies screen.
Create a new policy, or select an existing policy, and drill down on the policy #.
Click the Quick Quote view tab.
In the Vehicles list, add a record and complete the necessary fields.
In the Drivers list, add a record.
In the Add Drivers dialog box, perform one of the following tasks:
To choose an existing record, select a record and click OK.
To add a new record, click New and complete the fields.
Note: When you add a driver with a Primary designation, the application automatically populates the Primary field in the Policy/Quote form.
Click the Rate Model view tab.
Coverages might be defaulted to a standard set (through configuration) or manipulated through the Rate Model view to further refine the quote. You can collect additional data to aid in the underwriting and administration of the quote.
In the Vehicle Coverages list, add a record and select coverages and values.
Note: You can manually add premium amounts or configure your Siebel application to add a Rate button that activates the software program your company uses to rate policies.
End users can view a summary of all vehicles, coverages, and premiums associated with a policy in the Multi Vehicle Rate Model view tab. The information that appears on this view is a different presentation of information entered in the Rate Model view.
Viewing a Summary of All Vehicles, Coverages, and Premiums Associated with a Policy
Use the following procedure to view a summary of all vehicles, coverages, and premiums associated with a policy.
To view a summary of all vehicles, coverages, and premiums associated with a policy
Navigate to the Auto Policies screen.
In the Policies/Quotes list, drill down on the desired policy.
Click the Multi Vehicle Rate Model view tab.
Click Next Vehicle Set to view additional vehicles that do not display.
Click Prior Vehicle Set to return the previous view.
Adding Discounts
After end users create a quote or policy, they can add policy, driver, and vehicle discounts to the policy.
To add a discount
Navigate to the Auto Policies screen.
In the Policies/Quotes list, drill down on the desired policy.
Click the Discounts view tab.
In the appropriate list, add a record and complete the necessary fields:
Policy Discounts. To add policy discounts such as long-term customer discounts.
Driver Discounts. To add driver discounts such as good driver discounts.
Vehicle Discounts. To add vehicle discounts such as anti-theft discounts.
Adding Vehicles or Drivers to Policies
End users can add vehicles or drivers to existing policies.
To add a vehicle or driver to a policy
Navigate to the Auto Policies screen.
In the Policies/Quotes list, drill down on the desired policy.
Click the Quick Quote view tab.
To add a driver, scroll down to the Drivers list, add a record, and complete the necessary fields.
To add a vehicle, scroll down to the Vehicles list, add a record, and complete the necessary fields.
Setting Up Payment Plans
End users can set up payment plans, including details about payment methods, for auto insurance policies.
To set up a payment plan for an auto policy
Navigate to the Auto Policies screen.
In the Policies/Quotes list, drill down on the desired policy.
Click the Payment Plans view tab.
In the Payment Plans list, add a record and complete the necessary fields.
Adding Underwriting Information
After end users provide a quote or accept an application for an auto policy, they can add information for use in ordering underwriting reports for the drivers and vehicles associated with the policy.
To add underwriting information
Navigate to the Auto Policies screen.
In the Policies/Quotes list, drill down on the desired policy.
Click the appropriate view tab:
Underwriting. To query for prior insurance history and to add prior insurance history, prior claims, or residence information.
Accidents/Violations. Use the Accidents/Violations list to add information about each driver’s accidents and violations.
Note: The lists and forms that appear depend on the type of vehicle you select.
Add a record in the selected list or form and complete the necessary fields.
Ordering Underwriting Reports
After end users add the necessary policy, driver, or vehicle information, they can order underwriting reports for a policy. Examples of underwriting reports are motor vehicle, credit bureau, or loss history reports.
To order an underwriting report
Navigate to the Auto Policies screen.
In the Policies/Quotes list, drill down on the desired policy.
Click the Underwriting Reports view tab.
In the Underwriting Reports list, add a record and complete the necessary fields.
Use the procedures developed by your company to submit the order.
Note: You can configure your Siebel application to add an Order button that activates the software program your company uses to submit orders for underwriting reports.