Understand that the "Stage" of a Policy is based on the presence or absence of the following date fields. The Status Name isn’t as important as the dates stamped on the lead. It is important to understand that each stage is named after the NEXT step in the process.
Stage One - Conversion
A new lead that does not have any policies.
Agent runs the quote tool and selects a policy that will meet the customers needs
Agent enters the selected product/carrier details, premium, and any other pertinent information
Date Created Exists
Agent Saved a New Policy
Policy stamped with Creator ID
Stage: Conversion
Status: Quoted
Stage Two - Verification
The customer agrees to purchase the quoted product.
Date Converted Exists
Agent Pressed "Sale" indicating an intent to buy
Policy stamped with Agent ID
Stage: Verification
Status: Converted
Stage Three - Submission
Verification team looks over information provided by Agent to validate numbers to ensure accuracy and prevent fraud
Date Verified Exists
Agent Pressed "Verify"
Policy stamped with Verifier ID
Stage: Submission
Status: Verified
Stage Four - Sale
Submitters review all verified policies, input necessary data into the carrier’s website, and submit policies to complete sale (subject to individual processes)
State sold will appear only on the Policy since a single lead can be sold multiple times
Date Sold Exists
Agent Pressed "Submit"
Policy stamped with Submitter ID
Stage: Sale
Status: Active
Considerations
Completion of Stage Four - Sale will update the Vendor Performance Report, Agent CPA report, and the Commissions.
A lead is not considered Sold until Stage Four, where Date Sold exists on a policy.
When a Policy is in Pending Submission or Pending Verification 1 of 3 things can be done.
Resolve any pending actions and select the Resolve Stage buttons are available
Push the Application further to the next stage
Kick the Policy or Cancel the Policy
When a Policy is temporarily “interrupted” or “canceled” the Policy will be stamped with those dates, yellow for interrupted and red for canceled.
Policy Substages
Date Interrupted
This means the Policy can't go further until something is done, before Submission it is a "Pending" Stage, after Submission it is an "Inactive" Stage.
Date Kicked
This is a Policy that got Kicked out before submission, during verification or submission, it is a final stage.
Date Canceled
This is a Policy that was Canceled after it was fully Submitted, it is a final stage.
Advanced Tracking Mechanisms
There are 2 Advanced Tracking Mechanisms. These can be manually added or triggered by a Policy Status
Tag Workflow
Tags can be Manually Added to Denote something needs to be done, these are searchable.
Tags can also be used in conjunction with Policy statuses to trigger the addition or removal of Tags.
CSR Workflow
CSRs can manually be added and assigned to denote something that needs to be done.
CSR Reason Types and CSR Completion Codes can be created and added to the Leads Notes section.
CSRs can be used in conjunction with Policy Statuses to trigger the addition of preset CSRs.