Sanctions checking and side-by-side MTAs arrive in v3.15

Published on 26 Jan 2016

Schemeswriter v3.15 has been deployed to the testing environments and brings several new features along with bug fixes

Sanctions Checking
Automated sanctions checking is now available at new business and MTA. If the customer details meet a high enough score metric when checked against the government sanctions list, you will be informed and shown details of the matches so you can make a decision about accepting the risk.

Side-By-Side MTAs
Mid-Term adjustments will now be run and compared against previous answers as well as premiums to reduce the number of premium differences resulting from changes to scheme logic and rates. In real terms, MTAs will produce the same pro-rata figures as before, but be more resilient to scheme updates.

Total Premium Adjustment
During the underwrite process it is now possible to amend the total policy premium or schedule total premium to a user defined figure, this allows the system to do the work of spreading the load across the risk.

Renewal Date Alignment
We have added a feature which allows you to change the renewal date on a policy, automatically pro-rata the premium and update the documents. This will not affect the term after the next renewal so it can be used to bring renewal dates in line with other policies.

Short Term Cancellation Rates
It is now possible to change cancellation refund rules on a scheme-by-scheme basis. Pro-rata and stepped returns based off the number of days on cover are currently available.

EP/RP Ignore Amount
You can now set a minimum amount for extra and return premiums on a per scheme basis. If the minimum is not met, there will be no charge / return to the customer.

Download Documents - PDF Merge
When using the download all facility, you now have the option of merging all documents into a single PDF as well as downloading an archive.

General Improvements
  • Brokers can no longer adjust a premium after it has been adjusted by the underwriter
  • EP/RP overrides are now persisted after an amend if the calculated premium has not changed
  • Declined quotes are now available in the search results
  • Notes can no longer be edited after 24 hours, but the 'private' flag can now be changed when editing

Bug Fixes
  • Premium is no longer displayed in the search results when a quote or estimate is referred