Policy Status is a field for tracking a Policy’s progress as it moves through your agency’s quoting and enrollment processes. Examples of Policy Statuses include “Pending”, “Active”, “Canceled”, “Replaced”, and “Rejected”. You can modify Policy Statuses at the account level in Settings > Servicing > Data & Custom Fields.
You must belong to a Security Group with the “Data & Custom Fields” Administrative permission to add, edit, or remove Policy Statuses.
IN THIS ARTICLE
Additional settings for Policy Statuses
Policy Statuses are widely used throughout AMS+ and have additional settings for commissions, dashboard graphs and reports, and lead conversion. There’s also an option to mass update the Policy Status on all records.
AMS+ will only link commissions to policies that have statuses with the Link Commission checkbox marked. If you have old/terminated policies that you don’t want to receive new commissions, we recommend unmarking this checkbox for related policy statuses.
If you want to see in-force policies on record summaries and Dashboard graphs, mark the In Force checkbox next to policy statuses that are actually in force.
This setting determines when AMS+ should turn a Sales Record’s policies into Policy Records. If a Sales Record's policy has a status with the Lead Conversion setting enabled, it will be eligible for conversion and become a Policy Record.
You can mass update all records with one option to another. This cannot be undone, so make sure to double-check before you make the update.
Example: Updating all Policies with the status of "New" to "Pending". All the Policies with the status of "New" will be updated to "Pending".