How do I accommodate for MTAs and RNLs in my scheme?
Work your way through each part of the scheme build once you have finished your documents but before you have done your BDX.
Question Set
Work your way through the question set deciding which questions should be asked at First Premium, MTA & RNL e.g. maybe your have a question “Reason for Adjustment” which would only need to show at MTA.
Rating File
Your rating file area has a section for a First Premium, MTA and Renewal rating file. Quite often these are very similar so you can use your rating file from your first First Premium section in here with a few added tweaks.
Your MTA file may have a different policy fee and your renewal file might accommodate for some increases in rates or have index linking built in.
For MTAs, SchemeServe will run your Adjustment rating file and then pro-rata it unless you have said otherwise in your scheme settings:
Endorsements
Rarely is there much to change or add when it comes to endorsements as these regularly apply to all records. If needed you can jump into your rule builder where you have triggered your endorsements and specify which record your would like your endorsements triggered for (if not all).
Rules & Referrals
When building rules, such as referrals, these quite often apply to each record type so there isn't a need to do any work here. However, when it comes to building rules for specific records, you can either:
1. Using the dropdown at the top, specific which record it is for
2. Build all rules under “any type” but add an extra condition using a formula to only run if it is a specific record:
The benefit of option 2 means all of your rules can be under “any type” making them easier to manage.
Documents
For your documents you have 2 options:
1 . For any documents that are needed for MTA and RNL, you can clone the First Premium documents and edit the text.
2. Use one document for all records and use a formula to display different text depending on the record type:
Property Insurance ##IF([Record.Type] = 'First Premium' AND [Record.Status] = 'On Cover', 'POLICY SCHEDULE', IF([Record.Type] = 'First Premium' AND [Record.Status] = 'Quotation', 'QUOTATION', IF([Record.Type] = 'Renewal' AND [Record.Status] = 'Quotation', 'RENEWAL QUOTATION', IF([Record.Type] = 'Renewal' AND [Record.Status] = 'On Cover', 'RENEWAL POLICY SCHEDULE', IF([Record.Type] = 'Adjustment' AND [Record.Status] = 'Quotation', 'MTA QUOTATION', IF([Record.Type] = 'Adjustment' AND [Record.Status] = 'On Cover', 'MTA POLICY SCHEDULE', 'QUOTATION'))))))##
The benefit of option 2 is that you have fewer documents to manage when it comes to making changes.
Once you have built your MTAs and RNLs, you can finish building your scheme by completing your BDX.
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