Variable Policy Terms
Overview:
Dais has introduced variable policy terms to our platform, now allowing you to choose from 1, 3, 6, 12 or 18 month policy terms for your product.
Prerequisites:
Your product will need to be configured to issue policies in order for the term length to apply, however, you will still see the policy term options on your rating action during configuration regardless of whether or not policy issuance has been activated. You will need to set up a rating action in order to see the policy term options.
Navigation:
- Navigate to the ‘products’ tab, then select your product and go to ‘events & actions.’
- Add a new ‘quote requested’ event to your product, or navigate to the existing quote requested action and associated rating action.
- In this example, we will use a spreadsheet rating action, but this same UI appears for other types of rating actions.
- Underneath where your spreadsheet is uploaded and mapped, there is a ‘term length’ drop down that allows you to select the term length of a policy that is issued from the associated quote. If you want multiple term lengths, you would need to set up multiple rating actions, each with a different term length.
- You can select from 1, 3, 6, 12 or 18 month terms.
- Save your event group.
- The term length will now apply to your rating action.
What’s Next:
- Watch the video below to see how to configure variable policy terms in the platform.