You want to make sure the client information is up to date and relevant to their current situation. So - what do you do in Trail when one of your clients' insurance policies becomes out of force? How do you reflect this in Trail?
This article will explain some key things to do to best represent your client's situation! 👍
Please read this article for when the case is only ONE cover item coming out of force, while the entire Policy still remains in force.
In this article you will learn:
Changing a Policy's Enforced Status
Changing a Policy's Management Status
Archiving a Policy
Deleting a Policy
1. Changing a Policy's Enforced Status
We do recommend you change a policy's Enforced Status when it becomes out of force.
When you do this, you can choose the option that best represents the situation:
Lapsed - this policy is not longer offered by the provider.
Not Active - this policy is no longer active.
Withdrawn - this policy was withdrawn.
Cancelled - the policy has now been cancelled.
Replaced - a recent Review or Advice process has meant that this policy was replaced by another better suited one.
💡 Note: "In Force" is the only status to say the policy is active and ongoing (and will be picked up as an Existing Policy when giving new insurance advice) whereas all the other options are to reflect the policy is no longer active.
Once you've changed this, the policy will have this status showing as it sits in the Products box:
2. Changing a Policy's Management Status
We also recommend you update the Policy's Management Status to "Excluded"; which directly affects your Trail Servicing Automations.
It then accurately reflects that you're no longer managing this policy for your client (needing to bring it up for reviews):
After this, you can then either ARCHIVE the policy (to keep a log of it in Trail) or to Delete the policy (which permanently wipes it from Trail).
3. Archiving a Policy
We recommend archiving the policy to be the final step so that you have a record of this historic policy within your client profile 👍
This simply means you're archiving this inactive policy into the client's Profile Timeline as a historic record; it is not the same as deleting it (the next point).
There may be several reasons you would do this - mainly it is to remove the Policy from the active "Products" box of the profile, and park it into the Timeline.
You can always then refer to its details again or re-open the Policy back to active.
How to Archive a Product
Click the bin button on the bottom left corner of the Policy product:
Then ARCHIVE the policy:
And this should Archive the policy into the client's Profile Timeline.
Optional - Deleting a Policy
When there is a duplicate policy or an accidentally created policy, you may want to fully DELETE a policy from the software.
This would be a permanent deletion and we cannot guarantee retrieval of the policy after you delete it.
Only do this if you're not needing a record of your client's policy.
Otherwise, archiving the policy is better because you can keep a record.👍
How to Delete a Policy
Click the bin icon at the bottom left of the policy product:
Now here, once you click "Delete" it will permanently delete the policy information from Trail 👍
