A user with the Product Admin role can configure the policy cancellation lifecycle for a product. With a cancellation created for a product in the Dais Platform, a user can cancel an existing policyholder's policy.
Locate Your Product
To create a cancellation reason for your product, select Products from the top navigation then use the provided search field to locate the product. Select the product name to open the product.
Create a Resource
Cancellations will need a resource associated with them, a resource can be an HTML Template or, more commonly, a form.
To create a form or HTML Template, select the Configuration tab located under the product name. By default you will be in the Form Library tab under Configuration, here you will see all the resources associated with the product.
To create a new resource, click either + Form or + HTML in the top right corner. A dropdown will appear where you can specify the type of resource you would like to add, select Cancellation to create a new cancellation resource.
When you are done, click 'save configuration' in the bottom right corner to save your changes.
Create a Cancellation
Once you’ve created the form resource you need for a cancellation, select the Policy Management tab under Configuration.
To create a new cancellation profile, click Add Cancellation in the top right corner, and fill in the fields provided.
With the Cancellation eligibility rules set to 'yes', you can set criteria for when this particular cancellation is allowed for a policy.
Additional information requirements allow you to use the cancellation resources you created earlier as part of the cancellation process.
Refund Calculation Options allow you to set what type of refund is calculated when a policy is cancelled. This refund calculation type will apply to all policies that use this cancellation profile.
Save Configuration
When you are done, click 'save configuration' in the bottom right corner to save your changes.
Once these steps have been completed and your cancellation process has been configured, you will be able to cancel a policy