FAQ ID # 49
Last Update : 2019/09/20
Rating : Rated 1.5Rated 1.5
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Question / Issue
How do I determine which "Prior Transfer Level" to choose? What do each of them mean?

Answer / Solution

Prior Transfer Level (Drivers tab - Driver Attributes grid):

  1. The Prior Transfer Level entry field will only appear on this screen if you select a specific company in the Prior Insurance Carrier entry field. 
  2. When you select a specific company from the Prior Insurance Carrier entry field, this is considered the renewal company and will receive a renewal discount, if applicable and if you have that company installed and turned on to rate.
  3. Prior Transfer Level discount will only apply to the company that you selected in the Prior Insurance Carrier field and only if that company allows this discount.
  4. The company you select as the prior carrier:
    • May not give a discount for this. 
    • and/or may have different number of levels (i.e. a company may have only 3 levels while the Comparative lists 9).  The program will use the highest level discount based on the highest of the company levels.  For example if the company only has 3 levels and you select 9, the program will use that company's highest level 3. 
    • and/or may have different definitions for each level.

NOTE: Since companies may have differing definitions for these levels, you will need to refer to the company's underwriting guidelines on this.

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Prior transfer level discount drivers tab

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