Policy Reports in Applied Epic (Part II)

November 11, 2022

The second part of this installment will cover the remaining reports found under the Policy section. These reports can provide beneficial information, reduce E&O risk, and ensure policy workflows are being followed. Be sure to check out Part I of Policy Reports in Applied Epic in case you missed it. As previously mentioned, make sure you have the new Report Pack downloaded from Applied to ensure you have access to all Reports available. We will not cover all reports found under this Policy section, but instead highlight the ones that are typically most used by multiple types of agency staff.

Expiration Report

This report can be very useful when shared with staff – either emailed monthly or sent to their Report Quickview. The Expiration Report lists policies that are due to expire within your set desired time range. This report will also show policies that already expired and were never renewed, allowing servicing staff to catch up on missed renewals. To prevent E&O risk, it is crucial to check each policy on the report to ensure there are no gaps in coverage. If a policy should remain cancelled/expired, the cancellation Service Summary Row should be entered with the line status changed.

New Business – Multi Layouts*

If you want to track policies with the NEW line status, use this report which will help track agency revenue. The multi-layouts option allows you to select how you want this report sorted – by ICO, PPE, Policy Type, Department, Producer, First Producer, or Branch.

Policies with No Transactions

It is important that all Agency Bill policies are transacted in order to ensure accurate reporting, revenue, and commissions. Use this report to find those policies that do not have transactions entered. This can also be a helpful report to regularly send to servicing staff, either emailed or sent to their Report Quickview.

Retention Report – Multi Layouts*

If you want to track your agency’s retained business from the past year, use this report which will calculate your retention percentage by diving retained business by overall total business. The multi-layouts option allows you to sort by Premium Payable, Producer, Branch. This is useful report for management to be able to track how the agency performed for the overall year.

Verify Policy Commissions- Premium Payable Agreements & Producer/Broker Agreements

If a policy has an outdated agreement, or an agreement missing, this will cause out of balance commission reports. To ensure the correct agreements are being applied to a policy or account, use these two separate reports to help you find gaps in data or data that needs to be updated. The Premium Payable Agreements will compare the premium/commission on existing policies to the commission agreement that is listed on that policy. The Producer/Broker Agreements report does that same thing, only with producer and/or broker agreements on a policy.

While not every report under the Policy report section is highlighted on this two-part series, we recommend checking out all reports found under this section in case they can prove useful to your agency’s needs. In the next Reports installment, we will highlight Transaction reports which will also be a multi-part series, so be sure to check back as we conclude this series. If you have any questions regarding reports, we would love to help! Contact us at consult@kitetechgroup.com today!