New Bond Application Status (Agent User)

Overview of New Bond Application Statuses

• After the bond application has been submitted, the decision engine will determine whether the bond application is automatically approved, rejected, or referred to underwriting for a subsequent decision to be made to approve or reject the bond application.  If approved, a quote for the bond will be available for purchase. 

Auto-Approved New Bond Application

• Once the bond application is submitted, the decision engine will determine if the application passes all auto-approval rules setup on the bond configuration.  If so, the bond will produce a quote, ready to be purchased.  

Auto-Rejected New Bond Application

• If the bond application is rejected by the decision engine due to one or more auto-rejection rules on the bond configuration, the bond will be placed in a rejected state.

• The item causing the rejection is marked with red text on the bond page.

• Although the bond is automatically rejected, underwriters do have the ability to override the rejection by approving the bond application, reassigning the bond to another underwriter, or sending approval conditions.

Referred New Bond Application

• If the bond application is referred due to not passing all the auto-approval rules on the bond configuration, it will be placed in a referred state. 

• The item causing the referral is marked with red text on the bond page as shown above.