Workflow: Reverse a Renewal

There are two reasons you may want to reverse a renewed policy in AMS360: The policy was renewed in error, or the customer chose not to take the renewal.

The two options below include steps to reverse a renewal that has no accounting transactions.

Option I: Cancel the policy

1. From the Customer Center, find and select the customer you need.

2. From the sidebar, select Views > Policies.

3. Select the policy in the list, and click the Cancel icon on the toolbar.

- OR-

Select the policy in the list. Click the policy number link. When the customer's Policy Information data entry form appears, on the Transactions menu, click Cancellation.

Complete the Cancellation data entry form.

4. From the drop down list, select a cancellation transaction.

5. Enter the cancellation effective date the same as the renewal effective date.

6. From the drop down list, select a reason for the cancellation transaction.

7. Enter something meaningful in the description field. For example: Reversing renewal or Renewed in error. The description appears on invoices and statements as well as the Customer Register.

8. Click OK.

An AMS360 message appears that lets you know you have selected a cancellation and asks you if you want the policy expiration date to be the date of cancellation.

9. Click No to keep the policy expiration date the same as the original policy.

A second AMS360 message appears that asks if you want the policy status set to the reason you gave for cancellation.

10. Click Yes You are returned to the Policy Information data entry form. The new cancellation transaction appears at the top of the form.

11. Click the Save icon to continue working in the policy data entry form, or click the Save and Close icon to close the data entry form.

Change the status of the original policy so that it does not show that it was renewed.

12. Open original policy that shows a status of renewed.

13. In Basic Policy Information,change the status from Renewed to Cancelled, Non-Renewed, or Not Taken.

14. Click the Save and Close icon to close the data entry form.

15. Add an Activity/Suspense according to your agency procedures.

Option 2: Delete the policy

1. From the Customer Center, find and select the customer you need.

2. Select the policy in the list. Click the policy number link. When the customer's Policy Information data entry form appears, on the File menu, click Delete.

An AMS360 message appears that tells you all changes will be saved and asks if you want to continue.

3. Click OK.

A second AMS360 message appears to let you know the policy will be deleted and will not be available in any lists. You are asked if you want to continue.

4. Click Yes.

5. The policy that was renewed in error, or not taken by the customer, is no longer in AMS360.

Change the status of the original policy so that it does not show that it was renewed.

6. Open original policy that shows a status of renewed.

7. In Basic Policy Information,change the status from Renewed to Cancelled, Non-Renewed, or Not Taken.

8. Click the Save and Close icon to close the data entry form.

9. Add an Activity/Suspense according to your agency procedures.

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