Product Release 7.1

Release Date: 11/06/2024 

Updates applicable to: reviews.tryadvocate.com

This article provides an overview of the new feature introduced in the 7.1 release. In this update, we are adding a single key feature that allows users and lenders to easily access historical versions of policy-related documents, supporting more streamlined data retrieval and accuracy. It marks another step forward in our commitment to delivering comprehensive historical data, which will drive value for your business by improving visibility into past terms.

1. Asset Document:

   • Associating an asset document remains unchanged.

   • ARA will not trigger a review request for new versions of asset documents.

2. Insurance Document:

   • Users can still associate a document with multiple policies. However, each policy must now be associated with a specific policy version.

   • Policy Versions: Each policy version is identified by a version number (e.g., V1, V2) and a start and end date (e.g., V1 03/01/2024 - 03/01/2025).

   • Note: Each version corresponds to a distinct policy term.

3. New Policy Versions:

   • A new policy version will be generated when the renewal cycle begins.

In the screenshots below, you’ll see an example where we have yet to initiate a renewal cycle. As a result, the only available version option is "Current Version." Once the renewal cycle begins, a new version (e.g., V1 03/01/2024 - 03/01/2025) will appear as an option.

1. Merging Documents:

   • The merging workflow is unchanged. Merged documents will inherit the "Current Version" for any associated policy, ensuring consistency.

2. Deleting Documents:

   • Deletion processes are unchanged; all document versions can still be deleted as before.

3. Updating Document Versions:

   • Users can update both the associated policies and policy versions from within a document’s settings.

4. Updating Historical Document Versions:

   • Users can update settings for historical document versions through the "Version History" section, just as they would for current versions.

   • Note: Documents cannot be unmerged. If a document’s type or associations need to be fundamentally changed, we recommend downloading the document from Version History and re-uploading it as a new document.

Approval Packages will continue to be based on the current document versions, with no changes to the existing process.

When a new policy version is created:

• Existing documents retain their originally associated policy versions (they won’t auto-update to the "Current Version").

• Any newly uploaded or merged document associated with that policy will align with the "Current Version."