Note: Users must have the authority, "Accept Agency Bill Renewal Offer," (Billing group) to issue this Billing transaction.
When a policy is an Agency Bill policy, and it has an Agency Bill Renewal Offer on it, this Billing transaction verifies that the policy has a Bill Method of "Agency Bill" and is still in an "Offer" status. If the policy is eligible, the Renewal is automatically accepted when the transaction is issued, and Diamond updates the policy image to reflect the appropriate Trans Type and Status.
To issue this transaction:
Access the policy with the Renewal Offer.
Select Billing from the Quick Links Tree View.
Click the Transaction button.
Select Accept Agency Bill Renewal Offer
Click Accept.
Answer Yes to the question: "Accept Renewal Offer?"
If successful, a validation screen is shown: "Policy has been upgraded to a renewal."
Click OK.
Once the transaction is issued, the status of the Renewal Offer is changed to either "F" (Future) or "A" (Active).
Note: If a Renewal Offer does not exist on an Agency Bill policy, the system displays a validation screen: "A Renewal Offer does not exist on this policy." Click OK.