Guidewire PolicyCenter Professional Exam
WITH VERY WELL CONTEMPLATED ANSWERS
Supporting information under an Account (11) - ANSWER☑️⭐-1. Summary
2. Contacts
3. Location
4. Participants
5. Transactions
6. Submission Manager
7. Policies and UW files
8. Documents
9. History
10. Notes
11. Related Accounts
Types of Policy Transactions (6) - ANSWER☑️⭐-1. Submission
2. Change
3. Renew
4. Cancelled
5. Rewritten
6. Reinstated
Jobs can be started in 3 ways - ANSWER☑️⭐-1. By users through Actions menu
2. External systems through API's
3. PC batch processes
,What are Coverage Terms - ANSWER☑️⭐-A value that further defines a specific coverage (Deductible
and Limit)
Coverage can have 0, 1, or multiple terms attached
List of Policy Lines (8) - ANSWER☑️⭐-1. Personal Auto
2. Commercial Auto
3. General Liability
4. Homeowners
5. Business Owners
6. Inland Marine
7. Commercial Property
8. Worker's Comp
Policy File Contains (4) - ANSWER☑️⭐-1. Contact
2. Location
3. Form
4. Policy (contains coverages, coverables, coverage terms, and premium)
What is a product model? - ANSWER☑️⭐-How a product is configured - What LOB's are required? What
coverages can you add to each LOB?
A product appears when you are in a "New Submission" screen in PC
Configured in Product Designer
Ex. Commercial Package, Commercial Property
What are clauses? - ANSWER☑️⭐-Coverages, Exclusions, and Conditions
, A Policy Line contains: (5) - ANSWER☑️⭐-1. Exclusions
2. Conditions
3. Modifiers
4. Coverage
5. Forms
What is availability and what is it based on? (6) - ANSWER☑️⭐-A component either appears or doesn't
appear on a live app
Based on:
1. Start/End date
2. Industry Code
3. UW company
4. Policy Type
5. Policy Transaction type
6. Jurisdiction
What is the max number of submissions you can make per LOB? - ANSWER☑️⭐-5
Steps to creating a submission/policy (12) - ANSWER☑️⭐-1. Offering - allows the insurers to define
product types based on existing base product definitions
2. Prequalification - ANSWER basic questions to reveal if the applicant qualifies for certain coverages, or
could reveal UW issues
3. Policy info - captures basic info
4. UW - large insurers license subsidiaries to do UW based on state requirements
5. Coverages - ex. for PA - collision, liability
6. Modifiers - increases or decreases in coverages based on certain factors
7. Risk Analysis - where UW concerns show up. UW can review or maintain any issues
8. Policy Review - can see full application summary
9. Quote - all policy info is sent to a rating engine and returns a quote
WITH VERY WELL CONTEMPLATED ANSWERS
Supporting information under an Account (11) - ANSWER☑️⭐-1. Summary
2. Contacts
3. Location
4. Participants
5. Transactions
6. Submission Manager
7. Policies and UW files
8. Documents
9. History
10. Notes
11. Related Accounts
Types of Policy Transactions (6) - ANSWER☑️⭐-1. Submission
2. Change
3. Renew
4. Cancelled
5. Rewritten
6. Reinstated
Jobs can be started in 3 ways - ANSWER☑️⭐-1. By users through Actions menu
2. External systems through API's
3. PC batch processes
,What are Coverage Terms - ANSWER☑️⭐-A value that further defines a specific coverage (Deductible
and Limit)
Coverage can have 0, 1, or multiple terms attached
List of Policy Lines (8) - ANSWER☑️⭐-1. Personal Auto
2. Commercial Auto
3. General Liability
4. Homeowners
5. Business Owners
6. Inland Marine
7. Commercial Property
8. Worker's Comp
Policy File Contains (4) - ANSWER☑️⭐-1. Contact
2. Location
3. Form
4. Policy (contains coverages, coverables, coverage terms, and premium)
What is a product model? - ANSWER☑️⭐-How a product is configured - What LOB's are required? What
coverages can you add to each LOB?
A product appears when you are in a "New Submission" screen in PC
Configured in Product Designer
Ex. Commercial Package, Commercial Property
What are clauses? - ANSWER☑️⭐-Coverages, Exclusions, and Conditions
, A Policy Line contains: (5) - ANSWER☑️⭐-1. Exclusions
2. Conditions
3. Modifiers
4. Coverage
5. Forms
What is availability and what is it based on? (6) - ANSWER☑️⭐-A component either appears or doesn't
appear on a live app
Based on:
1. Start/End date
2. Industry Code
3. UW company
4. Policy Type
5. Policy Transaction type
6. Jurisdiction
What is the max number of submissions you can make per LOB? - ANSWER☑️⭐-5
Steps to creating a submission/policy (12) - ANSWER☑️⭐-1. Offering - allows the insurers to define
product types based on existing base product definitions
2. Prequalification - ANSWER basic questions to reveal if the applicant qualifies for certain coverages, or
could reveal UW issues
3. Policy info - captures basic info
4. UW - large insurers license subsidiaries to do UW based on state requirements
5. Coverages - ex. for PA - collision, liability
6. Modifiers - increases or decreases in coverages based on certain factors
7. Risk Analysis - where UW concerns show up. UW can review or maintain any issues
8. Policy Review - can see full application summary
9. Quote - all policy info is sent to a rating engine and returns a quote
