Policies can be inserted with a new client or added to an existing client. You can insert a policy at the prospect stage and document all important information in HawkSoft before receiving quotes from carriers. The following topics will help you insert prospect policies and track them using the Sales Pipeline, get quotes for policies, and make changes to policies as needed.
Tour of the Policy
Inside of each client, there are tabs for each policy belonging to the client. Clicking on a policy tab brings up the Policy View, which contains further detail tabs for displaying basic policy information (such as carrier, policy number, policy agent(s), etc.), lines of business, policy coverages and premium, locations, and more.
This video gives a detailed walk-through of the Policy View and all policy-specific detail tabs in the Policy View.
Tour of the Client and Policy View
Inserting a Prospect or Bound Policy
You can create a prospect policy, bound policy, or create a policy from a carrier download.
Insert a Prospect
HawkSoft supports your agency's Sales Pipeline to help track and report on prospects and ensure new policies move through the process from discovery to sold.
It is important that prospect policies are inserted into HawkSoft for the following reasons:
- Document initial conversations – Important conversations regarding advisement of coverages, etc. usually take place before the sale is made or coverage is bound. By inserting a Prospect policy in HawkSoft, you can document all conversations with the customer for a permanent record, reducing E&O exposure.
- Create Tasks for follow up – Often times follow-up is required on policies that are not active yet, for example you may need to follow up on submissions to carriers for quote and/or approval, or you may need to request important documentation from your prospect to be able to provide an accurate quote. Insert a Prospect policy so you can document what is needed and create a Task for follow-up to ensure the policy doesn’t slip through the cracks.
Utilize Sales Pipeline reports - These reports enable you to follow up on submissions, quotes, or proposals. For example, you might want to reach out to a prospect 10 months after they refused your initial quote due to price. You can use the Sales Pipeline report to track these prospects. Never miss an opportunity!
Insert a Prospect: Sales Pipeline
Insert a Bound Policy
HawkSoft enables you to insert monoline and package policies. Depending on the selected lines of business, relevant screens and fields are available for all of the policy details.
This article describes how to insert a policy for an existing customer and how to create a new customer with a sold policy.
Importing Client and Policy Data
Create Clients and Policies from an initial download
HawkSoft can automatically create clients, policies, and carriers during an "initial download". An initial download, also called an "initial load" or "synchronization download", is when your carrier sends you a copy of all active clients and policies your agency has written with that carrier. An initial download can be a valuable tool for quickly adding clients and policies to your database.
Data Importer
The HawkSoft Data Importer is a tool that enables HawkSoft to import data into your client/policy database from a spreadsheet or database file. Using the Data Importer, you can map certain HawkSoft fields to columns in your spreadsheet/database file (or use a pre-saved configuration file to automatically map values), and then HawkSoft will automatically create new clients and/or policies from the data in the spreadsheet/database file. For example, you can import client data when performing an agency merge, or import prospect information from a leads generator.
The HawkSoft Importer
The HawkSoft Importer enables you to import client and policy or quote information into HawkSoft from a third party vendor using a supported HawkSoft integration file format. After importing, you can quickly create a new client, add a new policy to an existing client, or update an existing policy in a client, using the information contained in the imported file.
Generic Website Integration
HawkSoft CMS includes a generic data importer that enables users to import data from websites.
Policy screens
The following screens are available on all policies:
Insights Name and Address Information Policy Information Nature of Business Locations, Homes, and Buildings Policy Coverages/Fees/Taxes Policy Notes - You can add editable notes that are specific to the policy. These notes are not reportable and do not have historical tracking. Any information you need to retain for Errors and Omissions should be entered as Log Notes. Additional Interests Forms and Certificates Client Custom Fields Claims Client Notes - You can add editable notes that are specific to the client . These notes are not reportable and do not have historical tracking. Any information you need to retain for Errors and Omissions should be entered as Log Notes.
Depending on lines of business, the following screens are available:
Working with Policies
Clients and Policy Documents
HawkSoft provides the tools to manage your agency’s documents efficiently as Attachments. The Attachments menu and tools enable you to keep files and documents organized per customer and policy, assign documents to a specific user for review through Tasks, and compare or update policy information from downloaded dec pages received from carriers.
Client and Policy Documents Overview
Log Notes
HawkSoft enables you to create a permanent record of your agency’s actions and contacts within the client. These log notes create an important history for each client’s requests and policy activity. Log notes are an important part of state-required record keeping and can be subpoenaed in the event of legal action. For this reason, they can be voided, but cannot be deleted.
Tasks
Tasks are reminders to complete or follow-up on an action for a client and policy, or can also serve as non-client related reminders. Tasks can be created and worked on from the client, policy, log notes, attachments, and the Task Center. Based on user permissions, task templates and categories can be created for your agency.
ACORD Forms
ACORD© (the Association for Cooperative Operations Research and Development) is a non-profit standards developer for the insurance industry. ACORD publishes and maintains a large library of standardized forms used for the exchange of policy and coverage information.
HawkSoft contains a library of ACORD forms that populates with client and policy information, increasing efficiency and accuracy. Details for each form can be filled in prior to printing or emailing.
Track Submissions
Submission tracking makes it easier for you to keep track of the many applications and forms your agency submits to carriers. Each client/policy has a Submissions tab where you can conveniently create and track items submitted to carriers as a Submission item, and then group these Submissions as they are sent to multiple carriers.
This article explains the process of tracking a Submission in HawkSoft, including how to create a Submission and a Submission Group, how to update a Submission once the form is sent back, and how to delete an erroneous Submission or Submission Group.
Quoting Policies
HawkSoft makes it easy to get carrier quotes on prospect policies, as well as existing policies, using HawkLink, or by using one of the many comparative rating programs HawkSoft integrates with.
Managing Policy Changes
You can change policy information when a customer or other relevant entity requests the change, such as adding an additional coverage, adding a driver, or move a policy to a different client.
The following articles provide the information you need when making policy changes.