Policies are a record type for storing product and plan information on your book of business. Policies are a key part of commission processing in AgencyBloc. Every commission received is associated to a policy. Policies also help you find missed commissions and make projections that inform your decision-making processes. Learn more about policies in this article.
IN THIS ARTICLE
Policies are commonly created using the +New button found at the top of any page, and the ‘New Policy’ button from the Policies page.
A policy can't be deleted when it is associated to:
- Commissions. We recommend moving any commission payments to another policy. This is to ensure you don’t lose any financial or historical payment data.
- Incomplete activities.
If it’s a group policy, it’s good practice to check and make sure it doesn’t have any enrollments because that data will be deleted as well.
Data tracked by policies
Every policy is associated to a group or individual record. The record is the policyholder and affects the available fields and tabs for enrollments and elections.
Policies are also important for importing commission statements into AgencyBloc. Imported statements are matched to policy records by policy number or commission number. Both numbers are stored on the policy record. You can change how statements are matched in carrier setup.
- Policy Detail - Store policy dates, coverage type, premiums, and status specific to the policy. If associated to an individual, you can add election data to track who is covered, such as spouse and children, for your individual business. Create custom fields to track data unique to your agency and customize the options in dropdown menus.
- Coverages - Track detailed information on the policy’s coverages and associated carrier products. Change field sets to track different plan information.
- Enrollments (Group policies only) - Add and track enrollments for a group’s individuals.
- Commissions (accounts with the Commission Processing module only) - View a policy’s payment history, projections, payees, and settings. Please note, the data on this tab is in commission processing.
- Activities - A list of assigned to-dos and reminders that are related to the policy through its individual or group policyholder. Activities also serve as a source of historical data because they cannot be altered or deleted.
- Emails - If your agency activated Automated Workflow or Email Marketing, you will see all email traffic related to the policy. You may find this helpful for previewing:
- Emails that were sent to the policyholder, servicing agent, account manager, primary contact (group policy only), associated group individuals (group policy only), or a user that was associated to the policy, using Automated Workflow or Email Marketing.
- Active, pending, and completed Email Marketing campaigns that include the policyholder, primary contact (group policy only), or associated group individuals (group policy only).
- Notes & Attachments - A list of notes and attachments associated to the policy. You can pin a note to display it at the top of the list and add it to the policy summary for quick and easy access.
- Workflows - If your agency activated Automated Workflow, you will see all workflow activity for the policy. You may find this helpful for previewing:
- Activities that were created for a group or individual and related to the policy.
- Emails that were sent to the policyholder, the policyholder servicing agent, the policy servicing agent, the policy account manager, or a user that was associated to the policy.
- Policy Summary - Shows important policy dates, commission details, payees, open activities, and pinned note.
Uses in other features
- Groups - track coverage and plan information for your group business.
- Individuals - track coverage and plan information for your individual business.
- Commissions - process commissions in AgencyBloc.
- Reports - run reports to download comprehensive data on your policies. Notably, find missed commissions.
- Email Marketing - create email campaigns to send mass communications from AgencyBloc to policyholders, group policy primary contacts, or group policy individuals.
- Automated Workflow - set up workflows to automatically create activities or send emails to the policyholder, the policyholder’s servicing agent, the policy’s servicing agent, or the policy’s account manager when certain conditions are met.