Sagicor Question

[jmarkk1]

Just wrote two policies with Sagicor that were approved as applied for, but policy modal premium is listed as higher than applied and approved rate. Both policies are still listed as pending.
Does anyone know if this is normal with Sagicor? Will they fix this before draft?

 

[JRoot]

Call Sagicor regarding the premium discrepancy. They're a very accessible company in my experience.

Re: Pending - If you got the instant approval after the phone interview, it's normal to show pending until it's issued.

 

[NinjaNic]

to add to that, the phone interview company and Sagicor are not the same. Our experience has been 4-8 hours delay in the interview company communicating approvals to Sagicor. And, be careful...we have had the interview company say approved as applied, only to share an approved other than applied with Sagicor (we are high volume).

 

[TwiLight]

The discrepancy in the Premium usually has to do with the Modal premium.

Software Quotes default to Annual premium and even though you see a minimum monthly premium amount on the left side of the proposal system, you still need to change the modal premium to Monthly PAC/Qtr/SemiAnn to get the correct premium.

Also be sure that your software is registered online with Sagicor and is up to date. You will see in the bottom left of the screen "Application up to date" when everything is good.

 

[WinoBlues]

to add to that, the phone interview company and Sagicor are not the same. Our experience has been 4-8 hours delay in the interview company communicating approvals to Sagicor. And, be careful...we have had the interview company say approved as applied, only to share an approved other than applied with Sagicor (we are high volume).

To add to Nic's point on the PHI. We have had several instances where the examiner gets multiple MIB or script hits that appear to be related to our client. It is best to have a relationship with an underwriter that you can refer the case to. In my cases the declines came back preferred.

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The discrepancy in the Premium usually has to do with the Modal premium.

Software Quotes default to Annual premium and even though you see a minimum monthly premium amount on the left side of the proposal system, you still need to change the modal premium to Monthly PAC/Qtr/SemiAnn to get the correct premium.

Also be sure that your software is registered online with Sagicor and is up to date. You will see in the bottom left of the screen "Application up to date" when everything is good.

Ditto on that. On a larger case it can be enough of a difference to tick someone off.