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Policy Cancellation

Insurance policy cancellation processing

Complexity: Moderate | Duration: 15-30m | Category: Industry/Financial Services

Tags: cancellation insurance policy refund

Workflow Diagram​

Steps​

Step 1: Receive request​

Agent: policy

administrator - Capture cancellation

Step 2: Verify reason​

Agent: policy

administrator - Confirm cancellation type

Step 3: Calculate refund​

Agent: accounting

specialist - Compute return premium

Step 4: Send notice​

Agent: notification

specialist - Issue cancellation notice

Step 5: Process cancellation​

Agent: policy

administrator - Terminate coverage

Step 6: Issue refund​

Agent: accounting

specialist - Send return premium

Step 7: Update records​

Agent: policy

administrator - Record cancellation

Usage​

To execute this workflow:

/workflow industry/financial-services/policy-cancellation.workflow

See other workflows in this category for related automation patterns.