Download Guidewire PolicyCenter Professional Exam 2024-2025. Questions & Correct Answers. Graded A and more Exams Network security in PDF only on Docsity!
Guidewire PolicyCenter Professional Exam 2024-2025.
Questions and Correct Answers. Graded A
2 Ways to create documents - ANS1. Upload an electronic file to the Document Management System
- Create a new doc using a PC template, creating a local copy on the Document Production system, ultimately uploaded to the Document Management System 3 levels of assignment for external users - ANS1. fully restricted - only access to their own org
- protect internal - can be assigned producer codes from any external org
- allow internal - allow access to internal or external orgs 3 statuses of policies getting renewed - ANSRenewed Not Taken Non-renewed 4 types of info in a security dictionary - ANSA series of HTML pages documenting roels and permissions for the application
- Application permission keys
- Pages (in UI)
- System Permissions
- Roles
A Policy Line contains: (5) - ANS1. Exclusions
- Conditions
- Modifiers
- Coverage
- Forms Actions related to a Contingency (3) - ANS1. Changing the policy
- Cancelling the policy
- Cancelling and rewriting the policy Activity Lifecycle (5) - ANS1. In Progress - New/Updated (Star icon)
- In Progress (viewed) - Normal (Star disappears)
- Overdue - Due date turns red
- Escalated - exclamation appears
- Closed - Completed or skipped (disappears from list) Activity Ownership - ANSExplicit - calls out person Implicit - calls out person's role Activity Patterns - ANSStandardize the way PC created activities Activity queue - ANSan activity repository assocaited with the group so people can go in and assign themselves the next activity in the queue (need the Actqueuenext permission)
Checking set - ANSA point in the job where issues can be raised (Pre-quote, Bind, Pre-issuance) Clauses and subclauses - ANSThese are groups of coverages A clause can have 1 or 0 parents clauses A clause can have multiple subclauses of multiple levels Color codes in sotry cards - ANSDark Green - Coverage attributes Light Green - Coverage Term Attributes Lightest green - Coverage Term Option attributes Components of UW authority - ANSUW Issue - a specific occurance on a policy transaction where an UW condition was true. Created when a condition gives undesirable results based on data on the policy or account. These can stop jobs until approved UW Rule - Describes how the policy transaction is affected by the UW issues and how issues can be approved. Rules include conditions which will raise an UW issue Authority Grant - The ability to approve UW issues and to what degree Authority profile - a group of authorities that can be given to a user, allowing the user to approve UW issues Coverage Pattern Attributes - ANSDetermines whether or not each relevant coverage is offered on a policy and whether the user can accept or decline
Coverage Table - ANSEach coverage is associated with a coverage lookup table storing availability criteria for coverages A coverage table has a set number of columns for each term type (the number of coverage terms is limited to the number of columns for that type (devs can add columns to extend the table) Use product designer to specify the column of the coverage table in order to map the term to the column Deploying UW Rules (Dev vs Prod server) - ANSDev:
- Draft (rules have been created but not complete or tested)
- Staged (tested and ready for deployment) Prod:
- Approved (Rule is ready for Deployment)
- Deployed (Rule executes) Document Management System - ANSStore documents stores the doc itself and a meta file (info about the document, like Author) Each doc has a MIME type (tells you whether you can use Word, Adobe, etc to open the file)
- Audit task batch process start audit job before policy expiration
- Enter Audit basis
- Calculate premium and complete audit
- Billing system notified to make premium adjustments Forms vs Documents - ANS1. Forms contain legal info, documents contain relevant account, policy, or job info
- Forms are part of the policy contract, documents are not Generic Schedule - ANSdata model that stores schedule info in a generic way can be easily created and edited in Product Designer and can be defined in Product Model XML files How are forms created? - ANSForm Inference - PC generates forms based on policy details (this logic is defined by Form Patterns) Form Pattern - defines metadata about a form and the inference logic (the define valid forms the system can infer on a policy) The actual Form content is created by a Document Production System (DPS) The created form content is stored in a Document Management System
How can managers and supervisors see what is going on with the users in their groups? - ANSThe Team Tab allows them to see all jobs and activities grouped by time and status. They can mass reassign activities, and jobs, and can view policy transactions by role or activity Can view by role or by activity How can UW issues be created? (2) - ANS1. Rule conditions can be created in the UW Rule UI, more complex conditions can be written in gosu
- UW issues can also be created manually on the UW Issues screen (can not be removed automatically How to delegate role management to external users - ANSUse the "User admin role" The can have access to ao build groups, org and permissions for their own orgs but not others How to override an automatic renewal - ANSPre-configure renewal directions - this puts the expiring term into either automatic nonrenewal or manual renewal Info you need to write Forms requirements (9) - ANS1. Form number
- Edition
- Name on the form
- Transactions for which the form applies
List of Policy Lines (8) - ANS1. Personal Auto
- Commercial Auto
- General Liability
- Homeowners
- Business Owners
- Inland Marine
- Commercial Property
- Worker's Comp Notes Fields - ANS1. Topic
- subject
- Security Level (Unrestricted, Internal, Sensitive)
- Text Notes vs Documents - ANS1. Notes - written in plain text, created by user or through Gosu and stored in the PC Database
- Documents - more complex, might be PDF, Word, Excel, etc. May be stored in the PC Database, or in Document Management System Parallel rating - ANSrates coverables in parallel using multiple threads Parts of a rating engine (5) - ANS1. Rate tables
- Rate table definitions
- Rate book
- Rate routines
- Parameter set PC areas of configuration - ANS1. Product/Data model
- Application Logic
- UI
- Integrations Also split into:
- Products
- Processes
- Content Policy File Contains (4) - ANS1. Contact
- Location
- Form
- Policy (contains coverages, coverables, coverage terms, and premium) Policy File details (on left hand side bar) (11) - ANS1. Summary - concise info about policy file
- Billing - view overall balances for policy periods
- Contacts - list all contacts associated with a policy
- Participants - lists users interacting with a policy by role
- Policy Transaction - displays summary info about all policy transactions that have occurred on the policy
Premium Report General Steps (6) - ANS1. Schedule Premium reports
- Audit task batch process starts each premium report
- Send the report to the insured to get audit basis
- Enter report data received and calculate premium
- Billing system notified with payment received
- Billing system reconciles amount received with PC amount and makes necessary adjustments Process for rating - ANSWhen you quote, PC will invoke the rating engine, which selects a rate book The rating engine calls a rate routine for the cost of a specific item The engine then puts together a worksheet with the calculated results Rate books - ANSA group of rate tables and rate routines Reasons for UW Referral - ANS1. Related to the Policy (when something about the policy needs to be brought to attention)
- Generate an UW issues which is blocking
- Often manually created, can only be deleted manually or through API, can't be approved
- PErsists with the policy, resulting UW issues can be approved
Recommended Practice for mapping coverages - ANS1. When mapping, put coverages that will appear together or automatically in the same category
- When rendering on the UI, put commonly accepted coverages on "Included Coverages" and less commonly accepted coverages as "Additional Coverages" Requirements to designing a product (required fields) (7) - ANS1. Product Type
- Product Name
- LOB
- Product Account Types
- Available Jurisdictions
- Policy Terms
- Default Policy Term Rewites - ANSYou must cancel a policy to rewrite it Full term rewrite (discards the original policy and policy term) Mid term rewrite (retains part of the original policy) Rules for groups (5) - ANS1. Users can belong to more than 1 group
- An internal user can be assigned a producer code for any org
- External users must be associated with an org
- If Producer Code Security is set to "Yes" the user can only use their role permissions against policies with a matching producer code, even if they have a larger set of permissions available through their roles
- "Misassigned" category is for jobs assigned to groups but to an invalid user. Activities and jobs can be mass reassigned.
- Configure scheduled clauses and properties in the product model, using Product Designer
- Configure the schedule UI if you want to change how it looks and operates Steps to create a new role - ANS1. Enter name
- Choose role type
- Specify if this is an internal role only
- Add permissions Steps to creating a submission/policy (12) - ANS1. Offering - allows the insurers to define product types based on existing base product definitions
- Prequalification - answer basic questions to reveal if the applicant qualifies for certain coverages, or could reveal UW issues
- Policy info - captures basic info
- UW - large insurers license subsidiaries to do UW based on state requirements
- Coverages - ex. for PA - collision, liability
- Modifiers - increases or decreases in coverages based on certain factors
- Risk Analysis - where UW concerns show up. UW can review or maintain any issues
- Policy Review - can see full application summary
- Quote - all policy info is sent to a rating engine and returns a quote
- Forms - become available at this point
- Payments - payments screen looks in depth at payment options to consider payment plans
- Bind and Issue - coverage becomes legally binding with Bind even without official documentation. Issues means the documents are getting issued
Supporting information under an Account (11) - ANS1. Summary
- Contacts
- Location
- Participants
- Transactions
- Submission Manager
- Policies and UW files
- Documents
- History
- Notes
- Related Accounts Things to consider when gathering requirements for coverages (6) - ANS1. What is the coverable?
- In what category is the coverage?
- Where is the coverage available?
- Does the coverage exist on the policy?
- Is the coverage automatically added, manually added, or can it be defined?
- What are the terms of the coverage? Types of activities - ANS1. General Activities - a task to do, no authority invovled
- UW Review activity - Requests UW to review UW Issues
Types of Views in UI - ANS1. Primary view - panel that organizes atomic widgets
- Secondary view - organized primary view (card view like tabs, list view)
- Screens - contains primary and secondary views Types of Widgets - ANS1. Atomic widget - an actual field
- Container Widget - Hold atomic widget in groups User Story Card themes (6) - ANS1. Product Model
- Quote Application
- Policy Change
- Renewal
- Cancel/Reinstate/Rewrite
- Administration Ways PC interacts with BC - ANS1. Producer setup
- Account Management
- Policy Transactions and billing instructions
- Renewal on payment received
- Cancellation for non-payment
- Billing status Ways Question sets can be used (6) - ANS1. Pre Qualification
- Product Qualification
- Location
- Offering Selection
- Supplemental
- UW Ways to configure availability in product model - ANS1. Lookup tables (to determine initial set "S" of available entities
- Availability Scripts (Script must return "True" or "False" after passing available entities through
- Grandfathering
- Offering What are clauses? - ANSCoverages, Exclusions, and Conditions What are Coverage Terms - ANSA value that further defines a specific coverage (Deductible and Limit) Coverage can have 0, 1, or multiple terms attached What are Documents? - ANSElectronic files that contain info pertaining to an account, policy, or job ( not part of th contract) What are rate routines? - ANSThe algorithms to calculate the premium. Defines steps to calcualate the cost of coverage (contains logic and math)
