How Schedule Dates Interact Within Quadra

April 12, 2021  Media, PA
Tech Insight




For those who use the Allocations module in Quadra® frequently, it will be helpful to see how the scheduled dates for allocated amounts, asset changes, and invoices interact, especially when there are overlaps of dates and when asset changes occur partway through an allocation period. Using the Allocation Schedule, you can set dates for each type of activity and have confidence that changes in asset values will be accurately accounted for in the premium charges.

Below is a description of each type of schedule date:


Allocated Amounts


Allocated amounts are annual premiums created as a result of all selections made when setting up a new allocation.  If there are multiple allocated amounts scheduled, then each date will contain the annual premiums as of that point in time.

Invoices


The annual premiums are divided into installments based on the number of dates in the invoice schedule. These installment amounts can then be integrated into the A/R module and/or used for reporting once finalized.

Asset Changes


Adjustments will be made to premiums based on asset changes that occur between the allocated amounts dates. The changes can be integrated into the A/R module once finalized.



This tutorial provides an overview of the Allocation Schedule and how to drill in to specific dates to view amounts:



The Allocations module is a defining feature of Quadra and makes it unique in the alternative risk market for its capabilities in producing fair and accurate insurance charges. If you are interested in learning more about Quadra, please contact us!



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