Authorize Insurance Policy – A summary of the activity

This activity allows you to authorize an insurance policy. You can search and select the insurance policy that you want to authorize. While authorizing the policy you can also modify all the details of the policy. The status of the policy after authorization is updated as “Active” if a blanket payment has been made for the policy. If a blanket payment has not been made the system updates the status of the policy after the payment information has been entered and sundry payment voucher is generated for the premium amounts. The system also stores the premium amounts by finance book along with the voucher details.

This activity also allows you to return the policy to the user who has created it for modification. The status of the policy is updated as “Returned”. This returned policy could be retrieved for authorization after the required modifications have been made.

Getting familiar with the pages inside

What you can do in this activity

Remove assets

Authorize policy

Return policy

Remove assets

Assets can be removed from an insurance policy so that they can be included in another.

• Go to “Authorize Insurance Policy” page.

• Remove the assets that are not required.

 Authorize policy

An insurance policy can be authorized if a blanket payment has been made for it. A policy can also be authorized when sundry payment vouchers are generated for the premium amount that is due. During the process of authorization, the policy can also be modified.

• Go to “Authorize Insurance Policy” page.

• Authorize the insurance policy.

Return policy

An insurance policy can be returned to the user who created it for modification if the user who is authorizing it, is unable to handle the modifications. The system updates the status of the policy as “Returned”. This policy could be retrieved again after the required modification for authorization.

• Go to “Authorize Insurance Policy” page.

• Return the insurance policy.