Question / Issue |
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How do I determine which "Prior Transfer Level" to choose? What do each of them mean? |
Answer / Solution |
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Prior Transfer Level (Drivers tab - Driver Attributes grid):
- The Prior Transfer Level entry field will only appear on this screen if you select a specific company in the Prior Insurance Carrier entry field.
- When you select a specific company from the Prior Insurance Carrier entry field, this is considered the renewal company and will receive a renewal discount, if applicable and if you have that company installed and turned on to rate.
- A Prior Transfer Level discount will only apply to the company that you selected in the Prior Insurance Carrier field and only if that company allows this discount.
- The company you select as the prior carrier:
- May not give a discount for this.
- and/or may have different number of levels (i.e. a company may have only 3 levels while the Comparative lists 9). The program will use the highest level discount based on the highest of the company levels. For example if the company only has 3 levels and you select 9, the program will use that company's highest level 3.
- and/or may have different definitions for each level.
NOTE: Since companies may have differing definitions for these levels, you will need to refer to the company's underwriting guidelines on this. |