Policy Out of Sequence Endorsement

Note: Users must have the authority, "Issue Endorsement," (Policy Processing group) to enter an Out of Sequence Endorsement on a policy.

 

One of the most unique features of the Diamond System is the ability to manage out-of-sequence Endorsements. An Out-of-Sequence Endorsement occurs when Endorsements for a policy are processed out of chronological order. A policy Endorsement and an out-of-sequence Endorsement are entered in the same way. Once an out-of-sequence Endorsement is performed and the policy is rated and issued, Diamond internally recalculates all balances for the policy from the earliest Endorsement throughout the life of the policy.

Process an Out-of-Sequence Endorsement

Follow the steps below to do an Out-of-Sequence Endorsement on a policy.

 

  1. Submit a policy Endorsement.

  2. When the policy Endorsement submission is confirmed, the system presents an out-of-sequence warning: "Out-of-Sequence Endorsement. Do you want to continue?" Select Yes.

  3. Once the Policy Information screen displays, enter any policy changes.

 

Note: The policy displayed by the system does not include any Endorsements that have an effective date after the effective date of the Endorsement currently in progress. When the policy is rated, the system recognizes all Endorsements with an effective date after this date and reconfigures all changes.

Change Button

When an Out of Sequence Endorsement is rated, Diamond reapplies all of the transactions with the change from the "Pending" Endorsement. The system reapplies all of the ones that have a Transaction Effective Date greater than the Transaction Effective Date of the "Pending" Endorsement. When this is done, there is a "P" (Pending) image and a number of "Q" (Pending OOS) images that get created which are reapplied transactions. When rating is done, the system creates all of these automatically and the screen then lands on the last "Q" image. Selecting the Change button allows the user to go back to the "P" image and easily change it.

 

  1. Click Rate to rate the policy.

  2. Click Issue.

Reviewing the Out-of-Sequence Endorsement

  1. Access the policy using the Policy History link in the Navigation Pane.

  2. At the bottom of the Data Grid View, "This Policy has Out of Sequence Activity," is displayed.

  3. Select the Show Out of Sequence Transactions check box. All policy-related activities performed throughout the "life" of the policy display.