Online Renewal/Rebroke feature is Live!
What does it do and how does it work?
A customer can log into the renewals section in their customer account and view their renewal price with their current insurer and at the same time generate a rebroke price. They also have the option to proceed to buy online.
Online Renewal Features:
- View the renewal price including any addons which were purchased last year.
- Comparison of their renewal price to last years price,
- either what they paid last year or the ‘Annualised’ premium which will include any mid-term adjustments with any AP/RP pro-rata to allow the customer to see what they would have paid last year on their up-to-date risk information.
- Review the risk information and confirm the details we currently hold are correct and up-to-date.
- View payment options, annual vs monthly.
- If customer paid monthly last year, then they can proceed with 11 equal payments. If customer paid in full last year but would like to pay monthly this year, they can pay a 20% deposit and instil will set up a new loan for 10 monthly payments.
- Toggle on /off all addons for renewal.
What happens next?
Once payment has been made, all of the Open GI processing will happen without any agent involvement.
- Policy renewed on Open GI
- All new frames to support the processing of the renewal will be created
- Addons selected online will be created
- Payment will be allocated and marked off on policy level
- Policy documents will be exported to Instil with the ‘trigger doc’ informing them that this is a renewal
- Once the documents arrive with Instil they will immediately be available in the ‘Upcoming Policy’ view in the customer account.
Online Renewal Limitations:
- Customers cannot renew with amendments.
- This functionality is not currently supported by xStream (xStream is the service which allows Stroll to interact with Open GI). If a customer needs to make any updates to their risk details they will be prompted to contact Stroll.
- AXA renewals are not supported.
- Axa removed the ‘Automatic Renewal’ functionality for renewals at the same time they stopped offering their own direct debit facility via Open GI, this was to ensure that all renewals would need to be processed by an agent who would be prompted to amend the payment method. There is an option on Open GI for Stroll to enable/disable online renewals, this is currently set to disable all AXA online renewals so customer will only be able to view the renewal price but not proceed.
- Open GI has a ‘dark time’ where some functionality is switched off to allow for overnight processes ie system backup.
- This starts at 11pm and finishes at 7am so if a customer was to navigate to the renewals section during this time they will be prompted to check back. The reason for this is that xStream cannot communicate directly with Open GI during dark time and unlike hosted eQuotes requests for New Business or Rebrokes, the xStream requests for Renewals are not queued to wait until the Open GI is back online, they would just fail.
Online Rebroke/Transferred New Business
When a customer navigates to the Renewals section of the customer account and Highway is not their current insurer, the customer will be presented with a Highway rebroke price. Customers will have the option to remain with current insurer or to proceed with the Highway alternative and also compare all prices to last year's price and last years annualised price.
Features:
- View the renewal price including any addons which were purchased last year.
- Comparison of their renewal price to last year's price,
- either what they paid last year or the ‘Annualised’ premium which will include any mid-term adjustments with any AP/RP pro-rata to allow the customer to see what they would have paid last year on their up-to-date risk information.
- Review the risk information and confirm the details we currently hold are correct and up-to-date.
- View payment options, annual vs monthly.
- If customer paid monthly last year, then they can proceed with 11 equal payments. If customer paid in full last year but would like to pay monthly this year, they can pay a 20% deposit and instil will set up a new loan for 10 monthly payments.
- Toggle on /off all addons for renewal.
What happens next?
Rebrokes / Transferred New Business is similar to how we currently quote for New Business. This uses Hosted eQuotes.
- Rebroke quote is auto-generated in customer account using current risk information (Hosted eQuotes)
- Rebroke quote is sent to Open GI (prospect) with the Executive Code RWEB to inform agents this is a rebroke quote and not new business
- When a customer makes payment the ‘purchase’ is sent to Open GI with a date and time stamp allowing us to back date the cover is the effective date before the date the policy is to be made live.
- Customer will receive an email to confirm the purchase
- Like New Business, these will be processed by agents until we have Open Workflow Manager (OWM will process NB and TNB automatically once it is working)