Managing Property Policies

This chapter describes how to manage property policies. It includes the following topics:

About Property Policies

Terminology for property insurance policies varies among insurance companies. For example, the same type of insurance could be referred to as fire insurance, homeowner’s insurance, home insurance, or property insurance.

Using the procedures given in this chapter, you will be able to perform the administrator tasks of adding property types, property coverage, and coverage limits in the Insurance Administration views. End users, usually service and licensed sales representatives, use the Property Policies screen to create and manage property insurance policies. Specifically, they can generate quotes for a new policy or for a change in an existing policy, add underwriting information, order underwriting reports, add scheduled personal property to the system, and setting up a payment plan. For more information on views common to all policy screens, see Common Policy Views.

Scenario for Property Policies

This scenario features sample tasks performed by an administrator and a licensed sales representative. Your company might follow a different workflow according to its business requirements.

In this scenario, a Siebel administrator adds property types, coverages, and coverage limits for his company’s property policies.

A licensed sales representative for a property insurance company is on the phone with a customer buying a first home. The customer wants to switch from a renter’s policy to a homeowner’s policy.

Using the fields on the Quick Quote view as a guide, the sales representative asks the customer a series of questions in order to gather enough information to provide an initial quote. Next, she adds more underwriting information, orders underwriting reports to request additional information, and adds scheduled personal property. After the data has been collected, she submits it to an external She gives the customer a verbal quote and ends the conversation.

Two weeks later, the sales representative receives another call from the customer. The offer was rejected for the property she quoted a premium for, but an offer on another house was accepted. She adjusts the coverages and limits accordingly, and then gives the customer the revised premium information. The customer confirms an 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 and mortgages against the insured property and billing and payment arrangements.

Then the sales representative follows the procedures implemented by her company to submit the policy for issuance and billing.

In this scenario, end users are sales representatives who service customers. They enter information to:

Provide quotes
Add underwriting information
Order an underwriting report
Add scheduled personal property to the system
Set up a payment plan

Process of Managing Property Policies

This section details sample tasks often performed by administrators and end-users when managing property policies. Your company might follow a different process according to its business requirements.

Administrator Procedures

The following list shows tasks administrators typically perform to manage property policies:

Note: Only those with the required administrative responsibilities, such as Siebel administrators, can change entries in the Insurance Administration views.

End-User Procedures

The following list shows tasks end users typically perform when managing property policies:

Adding Property Types

The Insurance Administration view allows you to add and make changes to property types. You can use the existing fields to define the default values of property types, or you can add more fields using Siebel Tools. For more information, see Configuring Siebel Business Applications.

To add a property type

Navigate to the Site Map, Administration - Insurance, and then the Property Types.
In the Property Type Administration list, add a record and complete the necessary fields.

Adding Property Coverages and Coverage Limits

The Property Coverage Administration view allows you to add and make changes to property coverages and property coverage limits. You can use the existing fields to define the default values of property coverages, or you can add more fields using Siebel Tools. For more information, see Configuring Siebel Business Applications.

To add a property coverage

Navigate to the Site Map, Administration - Insurance, and then the Property Coverages.
In the Property Coverage Administration list, add a record and complete the necessary fields.

Adding a Property Coverage Limit

Use the following procedure to add a property coverage.

To add a property coverage limit

Navigate to the Site Map, Administration - Insurance, and then the Property Coverages.
In the Property Coverage Administration list, select a record.
Scroll down to the Coverage Limit list, and add a record.
In the Limit field, type a coverage limit and complete the remaining 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 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 calculation.

To provide a property insurance policy quote

Navigate to the Property Policies screen.
In the Policies/Quotes list, drill down on a policy.
Click the Quick Quote view tab.
In the Property Types list, add a record and complete the necessary fields.
Scroll down to the Dwelling Rating form and complete the fields.

Note: 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.

Adding Underwriting Information

After end users provide a quote for a property policy, they can add additional information for underwriting.

To add underwriting information

Navigate to the Property Policies screen.
In the Policies/Quotes list, drill down on a policy.
Click one of the following view tabs and add a record.
- Property Underwriting. To add property-related information.
- Outbuilding Underwriting. To add information related to outbuildings such as detached garages.
- Coverage Underwriting. To add other underwriting information, such as earthquake, farm, and brush hazard.
In the new record, complete the fields.

Querying for Property Underwriting Information

End users can also query for property type and dwelling underwriting information.

To query for underwriting information

Navigate to the Property Policies screen.
In the Policies/Quotes list, drill down on a policy.
Click the Property Underwriting view tab.
In the Property Type list, click Query to search for property type and dwelling underwriting information.
Select the query criteria and click Go.

Ordering Underwriting Reports

After end users add the necessary policy 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 Property Policies screen.
In the Policies/Quotes list, drill down on a policy.
Click the Underwriting Reports view tab.
In the Underwriting Reports list, add a record and complete the necessary fields.

Note: You can configure your application to activate the software program your company uses to submit orders for underwriting reports.

Adding Scheduled Personal Property

End users can add scheduled personal property, such as jewelry, coins, and fine art, to a property insurance policy.

To add scheduled personal property

Navigate to the Property Policies screen.
In the Policies/Quotes list, drill down on the policy.
Click the Quick Quote view tab.
In the Property Types list, add a record and complete the necessary fields.

Note: When you select a personal property value in the Type drop-down list, the Scheduled Property Rating form appears.
Scroll down to the Scheduled Property Rating form and complete the fields.
Click the SPP Detail view tab.
In the Property Type list, select a type and scroll down to the SPP Items list.
In the SPP Items list, add a record and complete the necessary fields.
Repeat Step 4 through Step 8 for each scheduled property item you want to add.

Setting Up Payment Plans

End users can set up payment plans, including details about payment methods, for property insurance policies.

To set up a payment plan for a property policy

Navigate to the Property Policies screen.
In the Policies/Quotes list, drill down on the policy.
Click the Payment Plans view tab.
In the Payment Plans list, add a record and complete the necessary fields.

Additional Property Policies Views

The following table describes additional views that are unique to the Property Policies screen.

Table Additional Property Policy Screen Views

View Tab	Description
Coverage Underwriting	Records additional details regarding optional property policy coverages.
Replacement Cost	Replacement cost is an estimate of what it would cost to rebuild a real property structure. A replacement cost estimate is the basis of determining the amount of dwelling coverage that must be applied to a policy covering real property structures. This view captures a detailed description of property to be insured from which a replacement cost estimation can be made.
Replacement Cost Summary	Displays the details of a replacement cost estimate. Replacement cost data is often obtained from an external system. For more information on integrating with external systems, see Siebel Integration Messages.
Boat Detail	Records a detailed description of watercraft and associated equipment.
Boat Operator	Records operator information for watercraft operators on a policy.
All SPP Items	Displays a summary of all scheduled personal property items. For more information, see Adding Scheduled Personal Property.
Accident Violation	Records details of accident and violation history for boat operators.