AUTOMATED POLICY ISSUANCE WORKFLOW

Created by ChecklistGuro (https://checklistguro.com)

[ ] Fetch Customer Application: Retrieve the initial policy application entry containing applicant details and requested coverage.
[ ] Retrieve Underwriting Rules: Fetch the predefined risk assessment criteria and eligibility rules from the Underwriting Data Model.
[ ] Calculate Base Premium: Execute formula to calculate premium based on age, coverage amount, and risk score.
[ ] Update Application Risk Score: Update the application entry with the calculated risk assessment result.
[ ] Underwriter Manual Review: Create a task for the Underwriting Team if the calculated risk score exceeds the automated threshold.
[ ] Get Premium Breakdown: Retrieve all individual fee entries (tax, processing fee, base premium) related to the application.
[ ] Sum Total Policy Cost: Aggregate all fee entries to calculate the total 'Gross Premium' to be charged to the customer.
[ ] Create Policy Document: Generate a new entry in the 'Policy' data model containing the finalized terms and conditions.
[ ] Finalize Policy Status: Update the original application entry status to 'Issued'.
[ ] Create Billing Record: Create an entry in the 'Invoices' data model linked to the new policy.
[ ] Send Policy Confirmation to Client: Send an automated email to the customer's email address with the policy summary and PDF attachment.
[ ] Send Payment Notification: Send an SMS to the customer's mobile number notifying them that their policy is active and payment is due.
[ ] Daily Issuance Report: Generate a daily summary report of all policies issued in the last 24 hours for the management team.
[ ] Archive Completed Application: Create a task for the Operations Clerk to move the application data to the long-term archive storage.
[ ] Remove Draft Applications: Delete temporary draft entries that were created during the calculation phase to maintain data cleanliness.

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