New policyholder onboarding
Purpose
End-to-end operating procedure for onboarding a new policyholder after a quote is accepted.
Owner: Customer Operations Manager ยท SLA: policy live within 3 working days of acceptance
๐งญ Flow
flowchart LR
A[Proposal intake] --> B[KYC verification]
B --> C{KYC pass?}
C -- no --> X[Decline, notify Compliance]
C -- yes --> D[Acceptance confirmation]
D --> E[Policy creation]
E --> F[Collection setup]
F --> G[Issue and welcome]๐ Operational onboarding overview
๐ Operational onboarding indicators
- Policy activation SLA: < 3 working days
- First-time-right setup rate: 97%
- Referral turnaround: Same business day
- Pending onboarding queue aging: < 5 working days
๐ Continuous improvement priorities
- Improve completeness of proposal submissions
- Reduce underwriting referral cycle time
- Increase digital document automation
- Improve policy issue accuracy controls
๐ Channel variations
Proposal arrives pre-validated by the portal; completeness check is a spot check. Queries go to the intermediary, never directly to the client.
โ Procedure
Intake. Validate the proposal is complete: proposer details, risk information, premium payment mandate. Incomplete proposals return with a consolidated query list.
KYC. Execute the KYC verification checklist.
Acceptance confirmation. Confirm underwriting acceptance is recorded (auto-accepted within authority, or referral outcome from Underwriting Operations).
Policy creation. Create the policy record; verify premium, cover and intermediary allocation against the accepted quote โ mismatches stop the process.
Collection setup. Load the debit order or invoice arrangement; first collection date must respect the cooling-off disclosure.
Issue and welcome. Generate policy schedule and wording, send with the welcome communication; record dispatch.
๐ High-level onboarding lifecycle
Proposal received and validated for completeness
KYC verification initiated and evidence attached
Underwriting acceptance confirmed or referral resolved
Policy setup and premium configuration completed
Collection setup validated and welcome pack issued
โ Control restriction
No policy may be put on risk before KYC passes โ control CTRL-C-01. No exceptions, including backdating requests.
โ ๏ธ Exceptions
- KYC fail or sanctions hit: decline path, Compliance notified same day, no cover confirmed.
- Payment mandate invalid: policy held in Pending max 10 days, then lapsed as never-taken-up.
๐งพ Records
Proposal pack, KYC evidence and issue confirmations attach to the policy record. Cycle-time stamps at each step feed the onboarding SLA measures.