Latest Release Provides New Options for Allocations

April 14, 2021  Media, PA
Quadra , Software Releases

With release 6.5.6, we are pleased to announce several features that support the Allocations module, Quadra’s defining capability that provides a seamless and accurate method for determining premium charges. These updates primarily include improvements within the allocation wizard, the interface that uses an easy step-by-step process to input values when setting up a new allocation.

Firstly, a new ‘Manage Sequences’ page is accessible from the Invoices tab of the allocations wizard when determining the invoice number format.    This allows clients to define a custom starting point for the invoice numbers generated by the allocation processor and provides more flexibility when a specific sequence is needed.

Additionally, the Notify tab of the wizard now requires one or more recipients. This will assure a team member is notified of scheduled dates for asset changes and invoices since follow-up activity is required for each. Users will also have the ability to select whether or not they want to receive notifications for the dates on which allocated amounts are run.

Lastly, payor changes will now be processed as asset changes.  The processor will create offsetting positive and negative asset changes based on how payors and percentages are modified.  Actions in Quadra that also trigger asset changes include adding or removing assets and editing structure values or square footage.

If you are not already familiar with the Allocations module, several tutorials are available:

Overview of the Allocations Module:

Complete Asset Changes and Invoice Creation: 

Using the Allocation Schedule to Regenerate Amounts:

As always, we are striving to ensure Quadra meets the needs of our clients who are developing and implementing insurance programs that support their organizations’ goals. If you are interested in learning more about Quadra, please contact us!

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