Adding Loadings to In Force Policies

Loadings can be added to policies that are already in force by underwriting a new policy version.

Underwriting In Force Policies

1. Navigate to the policy that will have loadings added.
2. In the Versions tab, click 'Clone' on the current policy version. This will create a draft policy version.
3. On the Actions menu of the draft policy version click 'Create' to begin an underwriting workbench for the new version.
4. Open the new version's underwriting workbench and navigate to the Decisioning tab.
5. For each rider that needs a loading added, select 'Accepted (with terms)' as the outcome. This will display the 'Add' button for loadings and allow the input of the loading amount, type, category, description, and period.
6. Once the loading is saved, the rider premium amount shown in the underwriting workbench should update immediately to reflect the loading. However, as the loading is still only against a draft policy version, the loading won't be reflected in the actual policy premium yet.
7. Once all riders have the necessary loadings, change the underwriting workbench status to 'Awaiting issue'. This will allow the draft policy version to be issued.
8. Navigate from the underwriting workbench back to the policy. In the Versions tab, select the Actions menu of the draft version that had the loadings added. Click on 'Edit cover', continue through the edit screen, and then confirm on the review screen that the correct loadings are displaying against each rider. The rider premiums and updated instalment amounts should all include the loadings that were added.
9. Create the endorsement to confirm the new premium. This will put the draft policy version that has the loadings into force and supersede the original policy version.