P&C Insurance Transaction Codes and their meaning

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PC Insurance Transaction Codes and Their Meaning

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PC Insurance Transaction Codes and their meaning
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• NBS New Business This means it is a new
  policy from the scratch. Carriers send the detail
  of the new policy, its coverages, insured party
  info, etc back to the agent through the AL3 file.
• REW Rewrite This means an old policy was
  canceled earlier and is reactivated (could be due
  to any reason like major changes required, or
  premium schedule change, date of policy coverage
  to be changed, etc).

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• SYN Policy Synchronization This simply means
  for an existing policy carrier sends the entire
  information of the policy again back to the agent
  to sync the record at the agents end with what
  is there in the carriers system.
• PCH Policy Change Some changes are made to an
  existing policy like address change, coverage
  changes, changes in insured information, etc and
  the carrier sends the new information back to the
  agent in AL3 file.
• REI Reinstatement Policy was earlier
  terminated most probably because the premium was
  not paid. This policy is now reactivated after
  the insured made the payments and the carrier
  sends this information back to the agent.

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• XLN Cancellation Request The carrier has
  received a request to cancel the policy. The
  policy is not canceled yet. The carrier sends
  this information back to the agent.
• XLC Cancellation Confirmation The carrier has
  canceled the policy. The carrier sends this
  information back to the agent.
• RWR Renewal Request The carrier has received
  a request to renew the policy. The policy is not
  renewed yet. The carrier sends this information
  back to the agent.

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• RWQ Renewal Quote The carrier has received a
  request to issue a new quote to renew the policy.
  The policy is not renewed yet. The carrier sends
  this information back to the agent.
• RWL Renew Policy The carrier has renewed the
  policy. The carrier sends this information back
  to the agent.
• Contact us for AL3 Parsing and storing the data
  into your AMS / CRM.

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contact_at_winsurtech.com for the price. We also
provide AL3 consultancy so our team can work
closely with your team for integration assistance
and to provide any consultation you need.