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E-app Advance Edits & Verification

E-app Advance Edits & Verification. Download. SGA needs to download apps on a daily basis. Download must be complete to Home Office by 2 o’clock CST (Mon-Friday) to count for that days processing – otherwise it will not process until the following business day. New Edits & Controls.

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E-app Advance Edits & Verification

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  1. E-app Advance Edits & Verification

  2. Download SGA needs to download apps on a daily basis Download must be complete to Home Office by 2 o’clock CST (Mon-Friday) to count for that days processing – otherwise it will not process until the following business day.

  3. New Edits & Controls New edits and controls are being added since no CWA is collected and only electronic signature is captured. • Submit of application for advance/production credit will be delayed 7 days for e-apps to allow time for initial premium draft to clear: • Will still have two advance cut-offs • Run code 1 – will download apps Thursday-Wednesday and advance would be generated on Thursday of following week • Run code 2 – will download apps Friday-Thursday and advance would generate on Friday of following week

  4. New Edits & Controls: Run Code 1 Thursday Advance ACH Deposit

  5. New Edits & Controls: Run Code 2 Friday Advance ACH Deposit

  6. New Edits & Controls If there is a returned item on the initial premium – a NOPRD will be added to the case and the advance and production credit would be delayed further. We will have different codes so agent will know if returned item was due to NSF or closed account.

  7. New Edits & Controls Closed accounts require action on part of agent – NSF would auto redeposit but advance/production would still be taken away. If redeposit – new 7 day hold starts from redeposit date.

  8. E-APP No Advance/Production Notify Codes IPNSF–NSF for initial premium 1 of 4

  9. E-APP No Advance/Production Notify Codes IPNSF – NSF for initial premium 2 of 4

  10. E-APP No Advance/Production Notify Codes IPNSF–NSF for initial premium 3 of 4

  11. E-APP No Advance/Production Notify Codes IPNSF–NSF for initial premium 4 of 4 If re-draft clears – “IPNSF” will be removed and advance would be released and production credit given on following week’s advance.

  12. E-APP No Advance/Production Notify Codes IPNS2–NSF for initial premium redeposit If redraft does not clear – case would be WTH with “IPNS2” left on (no impact to retention)

  13. E-APP No Advance/Production Notify Codes IPACL–Account closed initial premium

  14. E-APP No Advance/Production Notify Codes IPSTP–Stop pay initial premium

  15. E-APP No Advance/Production Notify Codes IPNAT–Not authorized initial premium

  16. E-APP No Advance/Production Notify Codes IPINV–Invalid account initial premium

  17. E-APP No Advance/Production Notify Codes IPAFZ–Account frozen initial premium

  18. E-APP No Advance/Production Notify Codes CTLBS–Control business Will review bank account info for consumer compared to bank account for agent – if agent bank account will add “CTLBS” and no production/advance credit will be given to the agent.

  19. E-APP No Advance/Production Notify Codes VERPH–Phone verification If during UW call something is found that warrants it, will add “VERPH” which makes the case not count for production or advance. Disconnected or bad phone #s will result in “VERPH” being added.

  20. E-app Reports To assist with tracking business that is on hold, we have two weekly reports being generated which show all business being held and the potential release date. • The reports generate weekly on advance days • Reports are in CAS under Reports>View>Print • Name of report is EAPQRPT – “E-app Production Records in Hold Queue”

  21. E-app Reports • E-app Production Records in Hold Queue Report • One report will generate for each agent • Lists all policies currently being held

  22. E-app Reports • Submit date provided for each application – submit date will be the day the policy is downloaded • An ALP amount is provided for each application – Base & Rider*Note: Rider shows on separate line with “0” premium; Premium is included on the base line • A total is provided for each agent • A scheduled release date is provided for each policy. This is the date that the policy will be released for production credit and advance. Advance will be issued on the following advance report. • Tally = Total number of policies in Hold Queue for that agent

  23. E-app Reports Will also generate summary for SGA for everyone with apps on hold: EAQSRPT – Summary of E-app premium in Hold Queue

  24. E-app Reports Summary of E-app Premium in Hold Queue reports • Total ALP provided for each agent • Total ALP in Hold Queue for SGA • Total number of applications in Hold Queue for each agent, total for SGA

  25. Verifications Will do verification calls on all business for agents in their first 60 days, and calls on agents after that depending on how long they have been contracted and their retention or net to gross rates. Proposed Verification Call Guidelines Agents < 60 days – verify 100% of their business Agents > 60 days – call 1 of 10 unless they’re on a reduced advance Agents > 60 days with reduced advance – call 100%

  26. Reopens & Add-ons • Reopens must be handled in current fashion – requires the agent pick up a check. Will not draft for reopen premium. • Add-ons cannot currently be done through e-app (riders/benefits only). New applications are OK.

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