Policy Administration System definition

Policy Administration System means, with respect to the Insurer Product and each other insurance policy or product hereafter loaded or supported on the System by agreement of the parties under this Agreement, the online policy administration system used by Insurer for such policy or product, which system shall calculate, update, record and maintain insurance policy census, data and values on a daily basis in accordance with specifications approved and accepted by Insurer and any applicable legal requirements, and shall exchange daily policy electronic data feeds with AFS in the System for purposes of the parties’ performance under this Agreement in a manner reasonably consistent with AFS’ specification for data linking to the System.
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Examples of Policy Administration System in a sentence

  • Insurer also may elect to have the Underwriting System Provider, if any, test AFS’ data linking output to the Underwriting System, and to have the Policy Administration Provider, if any, test AFS’ data linking output to the Policy Administration System.

  • Agency or Agent acknowledges and is aware that MGA shall utilize Company’s Policy Administration System in connection with its internet services.

  • Policy Administration System Premium The payment a Customer must make under a Policy in exchange for Cover.

  • The Agency's or the Agent’s password for Company’s Policy Administration System is: .

  • Agency or Agent shall only permit licensed and, where applicable, MGA-appointed Agents, as defined in the Agreement, to utilize MGA’s internet services, including Company’s Policy Administration System and shall not disclose, reveal, divulge or otherwise provide the Agency’s or Agent’s password to any third party.

  • CPI Error A change made by AIA in December 2014 which caused its Policy Administration System to incorrectly apply the Inflation Adjustment, instead of doing so in accordance with the terms of the Policy.

  • It has reviewed and inspected the VIP System existing as of the Effective Date of this Agreement, which VIP System includes (i) a New Business System, (ii) a Policy Administration System, (iii) an Agency Administration System, (iv) a Financial Administration System.