Simplify policy issuance, renewals, endorsements, cancellations, and repurposing with built-in lifecycle actions and complete versioning. Reduce manual rework by automatically creating draft and issued versions for each policy change. Track mid-term changes through endorsements while preserving the full policy history. Help service teams work more efficiently with clear and system-managed policy states. Ensure consistent and reliable handling of policy changes across the entire policy term.
Where: This change applies to Lightning Experience in Professional, Enterprise, and Unlimited editions where Insurance Brokerage SKU is enabled.
How: From the Insurance policy record page, find the relevant policy lifecycle management actions from the actions dropdown.
- Issue a policy to prorate and aggregate amounts and mark the policy as Issued to create the initial policy version.
- Start an endorsement to create a draft version for mid-term changes, and issue it to make the updated version active from the endorsement effective date.
- Cancel a policy to end coverage as of the specified date while keeping the policy history intact.