Profile Option 'OKL: Days after contract booking date to activate policy' is not being Considered while Activating Insurance Policy (Doc ID 2245475.1)

Last updated on MARCH 17, 2017

Applies to:

Oracle Lease and Finance Management - Version 12.2.5 and later
Information in this document applies to any platform.

Symptoms

On : 12.2.5 version, Insurance Modules

ACTUAL BEHAVIOR
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Profile option 'OKL: Days after contract booking date to activate policy' is not being considered while activating insurance policy. Lease Insurance policies are being activated on same day as of policy creation day.

Current Profile Option Values setup mentioned below:
OKL: Days after contract booking date to policy creation = 0
OKL: Days after contract booking date to activate policy = 90

Issue:
1. LEASE_POLICY is getting activated immediately after policy creation. Automatic Insurance program is not considering 'OKL: Days after contract booking date to activate policy = 90' while activating the LEASE_POLICY.
  We wanted to set the creation at 0 (immediate) and the activation at 90 days.

2. LEASE_POLICY is getting created from contract start date i.e. it bills the insurance with a backdated due date.
  Expect the bill to start on the next invoice due date with the 1st 3 months insurance premium billed across the remaining terms.

EXPECTED BEHAVIOR
-----------------------
As per these values, policy should be activated after Contract Start days + 90 days. Also, Expect the bill to start on the next invoice due date with the 1st 3 months insurance premium billed across the remaining terms.


STEPS
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The issue can be reproduced at will with the following steps:
1. Setup 'OKL: Days after contract booking date to policy creation' and 'OKL: Days after contract booking date to activate policy' as motioned above.
2. Book a contract without third party insurance
3. Run automatic insurance program. This program will create and activate LEASE_POLICY.


Changes

 

Cause

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