Change Company

Field

What is this?

Change Company Options

Type

This group is available only if the Change parent and writing company option is selected.

Choose Insurance, Brokerage, or Subscription. The company names available in the Parent and Writing fields are dependent on this selection.

Parent

This field is only available if the Change parent and writing company option is selected. This information pulls from the existing policy. You can select another Parent Company from the list.

If you chose Subscription from the Type options, the company Subscription, Subscr appears in this field and cannot be changed.

Writing

This information pulls from the existing policy. You can select another Writing Company from the list. See Company Setup > Writing Company section for more information.

If you chose Subscription from the Type options, the company Subscription, Subscr appears in this field and cannot be changed.

Underwriter

These fields are defaulted from information entered in Company setup for the selected Parent/Writing Company combination:

• Underwriter - Defaults from Company Setup > Personnel section but can be changed.

• Account # - This is the account number used for billing purposes. It is assigned by the billing entity. This field can be downloaded.

• Master Code/Sub Code - Defaults from Company Setup > Master Agent Code but can be changed.

Account #

Master Code

Sub Code

Policy Transactions

What is this?

Eff Date

This is the policy transaction effective date and cannot be changed.

Policy Tran

Policy transaction code. This cannot be changed.

Line of Business

This is the line of business for the policy transaction and cannot be changed.

Origin

This is the origin of the policy transactions (Data Entry, Download) and cannot be changed.

Old

This is the Old company options on the policy transaction and cannot be changed.

New

Select the new company options.

Field

What is this?

Change Company Options

Type

This group is available only if the Change parent and writing company option is selected. Choose Insurance, or Brokerage. Subscription is not available on policies that are already billed.

The company names available in the Parent and Writing fields are dependent on this selection.

Parent

This field is only available if the Change parent and writing company option is selected. This information pulls from the existing policy. You can select another Parent Company from the list.

Writing

This information pulls from the existing policy. You can select another Writing Company from the list. See Company Setup > Writing Company section for more information.

Underwriter

These fields are defaulted from information entered in Company setup for the selected Parent/Writing Company combination:

• Underwriter - Defaults from Company Setup > Personnel section but can be changed.

• Account # - This is the account number used for billing purposes. It is assigned by the billing entity. This field can be downloaded.

• Master Code/Sub Code - Defaults from Company Setup > Master Agent Code section but can be changed.

Account #

Master Code

Sub Code

Policy Transactions

What is this?

Eff Date

This is the policy transaction effective date and cannot be changed.

Policy Tran

This is the type of policy transaction (New Business, Renewal) and cannot be changed.

Line of Business

This is the line of business for the policy transaction and cannot be changed.

Origin

This is the origin of the policy transactions (Data Entry, Download) and cannot be changed.

Old

This is the Old company options on the policy transaction and cannot be changed.

New

Select the new company options.

Build Commission Options

What is this?

Agency Commission

System Messages / Changing Companies on a Billed Policy

Billing Options/
Company Settings

When changing Parent companies, the system compares the settings in Company Setup/Billing Options or, if no company-specific settings exist, the settings are compared in Agency Setup > Default Company Settings for the new company verses the settings for the existing company. If differences are found, the following message is returned:

To view transactions for the existing company, expand the Policy Transactions section on the Change Company form and review the How Billed and Incl columns:

What does "Reset to Their Original Values" mean?

The following example illustrates what happens when the settings for the "From" company are different than for the "To" company:

1. A policy is created with ABC Company selected as the Parent company, Direct Bill is the Bill Method. The Billing Option setting for ABC Company is How Billed = Direct Bill Statement. A Direct Bill Statement containing a grid row for the policy in the Direct Bill Statement Billed Transactions section is created and posted.

2. In reviewing the file, it is discovered that the policy was actually issued by XYZ Company. The default How Billed option setting for XYZ Company is How Billed = Customer Center. When the Change Company form is initiated and XYZ is selected as the Parent company, clicking OK on the form displays the AMS 360 message above.

3. What this means:

4. Completing the Change Company form creates "backout" transactions for ABC Company correlating to each previously posted transaction.
   
   When a new Direct Bill Statement for ABC Company, with the appropriate date settings is created, it pulls the "backout" transactions to the Direct Bill Statement Billed Transactions section of the statement, with a check in the ChgCo column, as an indicator that a Change Company action is the source of the transaction.

Editing is not available on backout grid rows.

• At the same time, a "rebill" transaction is created for XYZ Company so that a transaction exists for posting to the correct insurance company commission statement.

When building a new statement for XYZ Company containing the 'rebill' transaction, the transaction appears in the Direct Bill Statement Billed Transactions section of the Direct Bill Statement form because that was the How Billed option for the original transaction.

• New transactions created subsequent to the Change Company action, default the How Billed options from Company Setup > Billing Options for the new company (or Agency Setup > Default Company Settings, if no company-specific options exist.).

Review Commissions

When changing a company after a policy is billed, it is important to make sure the desired commissions default into billing corrections created by the Change Company action. To prompt your review of the commission defaults, the following reminder message displays:

Clicking OK displays the Change Company Commissions form. Select a grid row in the Invoice Transactions section and click Edit on the section menu to review defaulted commissions. Make any desired changes and click Update. When all changes are complete, click Post to complete the Change Company process.

Direct Bill Statement (CSI) Transactions

The following message displays after closing the Change Company Commissions form, if:

• Settings are the same in the "From" and the "To" companies so that no invoices need to be changed.

• Previously billed invoices have been voided prior to the Change Company action.

• Previously billed transactions were How Billed = Direct Bill Statement. "Backout" and "Rebill" transactions are processed through Direct Bill Statement only.