What is the difference between XLC and RWL Policy download transactions

| By Navjot Singh

Insurance Transaction Codes: There are different types of Insurance transaction codes used to show the current status of a policy.

For Example NBS – New Business – This means we are creating a new policy from scratch in which the carrier sends the new policy details like its coverages, insured party info, etc to the agent.

XLC Policy Transactions: In the case of XLC (Cancellation Confirmation) the insurance company (Carrier) has canceled the already existing policy on the request of the insured or any other reason and sends the cancellation confirmation details back to the agent so that the existing policy record in the agency management system of an agency should be located and marked as canceled and also update the other details like cancellation date, reason or any other details which are sent back by the carrier in the transaction data.

RWL Policy Transactions: In RWL (Policy Renewal) The carrier has renewed the existing policy and sent these details back to the agent’s agency management system. Similarly, the policy record in the agency management system should be updated with new data but in some AMS they add a separate renewal record so as to maintain the entire history of changes. In the renewal policy cases, the customer account already exists in the agency management system and has an expired policy. So only policy records should be created and attached to the same customer account in this case. In case of a new customer a customer account needs to be created.

So the difference is that in the case of XLC, the policy is canceled and no new policy is created. But in the case of RWL, we are creating a new policy instead of an already-expired one.

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