Line of Business Setup
AMS360 includes ACORD standard Lines of Business (LOB). Use this setup feature to add company-specific or other Lines of Business you want to appear in Line of Business lists.
Accessing Line of Business Setup- Open the Administration Center.
- On the Customer/Policy menu, click Line of Business.
You must have proper authorization to access Line of Business Setup.
Fields in Line of Business SetupClick New (or Edit) and enter the following information. When finished, click Add (or Update). The updated information appears in the associated grid. To add multiple entries, repeat this procedure.
| Type of Business | Select the type of Line of Business from the list. |
|---|---|
Income Group | Determines the general ledger income account where the commission is posted when this line of business is used. These are System Accounts and cannot be changed or added to. For more information see the Chart of Accounts setup. The following General Ledger accounts are affected based on your selection: Financial Service Premium:
Life and Health Premium:
Other Premium:
Property and Casualty Premium:
|
Line of Business Assignment | Description: Type a unique description to appear in the Line of Business list throughout AMS360. Code: Type a unique code to identify this Line of Business. System Data Entry: Select the data entry form you want to use for the collection of data on this Line of Business. Active: Verify that Active is selected. This causes the line of business to appear in the appropriate lists throughout AMS360. |
Application Assignment | Category Filter: Use to limit the Applications list displayed to only those applications assigned to this Category. Leave blank to fill the Applications list with all the applications. Example Select Commercial Lines to filter the applications to only display commercial lines applications. State Filter: Use to limit the Applications list displayed to only those applications assigned to the selected State. Leave blank to fill the Applications list with all state applications. Example Select California to filter the applications to only display applications for the state of California. Application: Sets the default application form to use when creating and printing ACORD applications. If BOP Policy, override assignment with BOP application: Select this check box if you are creating a line of business to use with a Business Owners Package policy. Then when you select this line of business within the Line of Business section on the Policy data entry form, the application defaults to the current ACORD160 Business Owners application. |
Coverages and EndorsementsClick New (or Edit) and enter the following information. When finished, click Add (or Update). The updated information appears in the associated grid. To add multiple entries, repeat this procedure.
Coverage | Select a Coverage to attach to this line of business. When Coverages are assigned, they become available to select on the Line of Business data entry form when you use this line of business. For more information on setting up coverages, see Coverage and Endorsement Setup. |
Active | When selected (default), this coverage appears in the Coverage List on the Line of Business data entry form when you use this line of business. |
Yes/No Description | This is an optional description for the coverage and is available for homeowners and dwelling fire lines of business only. Then, when working in the actual line of business, you can choose yes/no to include this description with the coverage or not. Example If the coverage is Medical, the optional description might be 1st Party Medical. When working in the homeowner or dwelling fire line of business you have the option to include or exclude this coverage description, yes or no. |
Permanent Line of BusinessAMS360 includes a set of permanent Lines of Business (identified by an "X" in the Permanent column) that cannot be deleted. ACORD standard lines of business are permanent.
You can edit certain fields for permanent Lines of Business, or you can change the status (active/inactive), which controls whether the lines of business appear in the lists throughout AMS360.
See Lines of Business: How to Add, Edit, and Delete for instructions on how to edit permanent Lines of Business. However, Vertafore suggests that you use caution when doing so as it may adversely affect Download, Upload, and Integration.
What's Next?
Do you need to set up commission rates for these Lines of Business? See the Commission Setup section in Company or Employee.