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Renewal projects

If renewal is active for a product, you can configure when the renewal project should be created relative to the policy’s end date. For example, you can decide to create a renewal project two months before the end of the policy. When that date is reached, Korint will automatically create a renewal project that follows a similar lifecycle to new business:
  • The renewal project is created
  • A quote is proposed and automatically locked in for the renewal project, if the product is configured so that the price changes at renewal
  • The customer can review the customer project. If they reject, the renewal project is closed and you can create a new one. You can also decide to automatically stop the policy in case of rejection.
  • If the customer accepts, then the renewal project will become active at the policy’s anniversary date. If you select the tacit renewal option, no customer acceptance is necessary and the policy will automatically renew at its anniversary date.

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Automatic expiry

If you want policies to expire naturally, you can disable renewals entirely. Policies will stop at their end date with the stop reason of your choice.