Guidewire system update for additional premium for high theft risk vehicles – Ontario auto insurance
October 16, 2023
Commercial Lines, Personal Lines
Effective October 23, 2023 for new business and December 22, 2023 for renewals, you can self-serve to enter TAG information to remove the additional premium.
When we first told you about the additional premium for high theft risk vehicles, we also told you about the process to remove this premium when your customer installs a Tag system.
I’m pleased to inform you that we have implemented an update so that you can now add Tag information for PPV and IRCA policies to remove the additional premium through your quoting vendor, broker management system, and Guidewire.
What you need to know and do
- Effective October 23, 2023 for new business and December 22, 2023 for renewals, you can self-serve to enter TAG information to remove the additional premium.
- A message will appear identifying that the vehicle is high theft risk with the additional premium applied, and that this can be removed if Tag has been installed.
- If Tag is installed, click ‘Yes’ on the new Tag installation question on Guidewire and enter the date of installation.
- When you enter the date of installation, the additional premium will be removed and any available anti-theft discounts will appear on the Declaration page.
- For policies effective prior to these dates, you still have to call us with the Tag information to remove the additional premium.
- We will be sending a letter to your customers with a high theft risk vehicle with no Tag installed to inform them of the additional premium and directs them to contact their broker. We’re attaching a sample of the letter here. For Fleet policies, a different letter will be sent to brokers.
We have updated our FAQ. If you have any questions, please contact your Business Development representative.
As always, thank you for your continued support.
Kate Hogan
Vice President, Broker Engagement and Performance
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