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Policy Premium Change Event
Policy Premium Change Event

Learn how to trigger a sequence when a Policy's Premium Rate changes by a percentage that you define.

Agency Revolution avatar
Written by Agency Revolution
Updated over a week ago

The goal of the Policy Premium Change Event is to surface when there are premium changes at the time of renewal. Fuse will try to ignore premium changes related to policy changes in the middle of a policy term.

We prioritize safety over accuracy. What this means is if we are not sure the data is good, we'll err on the side of not launching the trigger rather than launching it. For example, if at one point the premium values are blanked out, and then they come through again, we don't trigger a rate increase. We require that the previous and next values are not $0.

Event Conditions

This event triggers when all of the following conditions are met:

  1. The policy is active

  2. The policy's previous and new rate values are not equal to $0

  3. The changed value is detected within 60 days before or after the policy's renewal date

  4. The percentage of the change matches the percentage range that you've chosen to target

  5. The policy instance containing the new premium is not the first instance of a new policy (Its Effective Date is not the same as the policy's Inception Date - in other words, it should only trigger based on future renewals)

Setting Up a Campaign with this Event

  1. Add a new Custom Campaign

  2. Add a Sequence using the Type: "Sequence of Steps"

  3. Set the sequence to add and subtract from the audience "In The Future" and click "Add/Edit Triggers,"

  4. Under "Add When" click "ADD TRIGGER"

4. Choose the Policy Premium Change Event. There, it will let you choose whether you're looking for an increase or decrease, and by what percent:

Customizing which accounts/policies get the campaign

This event requires per-policy messaging. So if you choose this event, every policy that matches the rate change criteria and the segment criteria will trigger the Sequence.

You can filter which accounts or policies you want to trigger this event for by defining those conditions within the Segment(s) that you apply to the Sequence. In your segment rules, you can filter to accounts that meet certain Account-level conditions, and/or filter to policies that meet certain Policy-level conditions.

Merge Fields You Can Use with a Policy Premium Change

When a sequence uses the Policy Premium Change event, extra fields are available for you to merge into Postcards and Emails. These fields are:

  • Change (a percentage, such as 25%)

  • Previous Premium (dollar amount, such as $800)

  • New Premium (dollar amount, such as $1000)

  • Direction (increase or decrease)

  • You may also use all of the standard policy-related fields like expiration date, carrier, etc. These will populate values from the policy that has the rate change.

What the merge fields look like:

An example after merging:

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