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Cancellation

Step 1: Ask for the cancellation reason.

Proceed to step 2 for these cancellation reasons: Seeking better pricing or coverage AND Variable Risk Score 15+ Purchased insurance with another carrier Sold the property Did not purchase the property (did not close on the home, loan didn’t go through) Closing date changed Inform the customer you will need to transfer them to a client relations specialist (retention) to address their the request for any other cancellation reason including but not limited to: Seeking better pricing or coverage AND Variable Risk Score (Less than 15) Poor customer experience Convenience of a single carrier (bundling)

Step 2: Determine the cancellation date. Purchased new policy – Ask for the effective date of the new policy. The cancellation effective date should match the effective date of the new policy to prevent a lapse in coverage. The customer should provide a copy of the new insurance declaration page if the effective date was more than 30 days ago. Sold property (agent on file) – Ask for the closing date and if coverage has been obtained for the new property. The cancellation effective should match the closing date to prevent a lapse in coverage. The customer should provide a copy of the closing documents if the sale of the property was more than 30 days ago. If coverage has not been obtained for the new property, encourage them to follow up with their insurance agent to obtain a quote. Transfer the call to retention and do not cancel the policy if the customer states they do not want to work with their agent and want us to provide a quote. Sold property (no agent) - Ask for the closing date and if coverage has been retained for the new property. The cancellation effective should match the closing date to prevent a lapse in coverage. The customer should provide a copy of the closing documents if the sale of the property was more than 30 days ago. If coverage has not been obtained for the new property, offer to transfer to inside sales to provide a quote before ending the call. Did not purchase the property The cancellation date should match the effective date of the policy (flat cancel). If the policy effective date was more than 30 days ago, the customer will need to provide supporting documents. Closing date changed – Ask the customer for the new closing date. If the policy is pending active, update the effective date with an endorsement. The effective date can only be today or after (not in the past). If the policy is active, flat cancel the policy. The cancellation effective date should match the effective date of the policy. Then, rewrite a new policy. The effective date of the new policy can only be today or after (not in the past). ** Note: The customer should email their supporting documentation to support@hippo.com. Save a copy of the document in Salesforce.

Step 3: Cancel the policy in POD.

  1. *** If there is a Renewal term, cancel that term first using the Step 2.)d.) below *** To begin the cancellation: Select “Cancel Policy” button.

embedded in text input 2) Select Category a. New Business: When cancelling a 00-term policy before the policy effective date. b. Mid- Term: If policy is active. c. Non-Renewal: Underwriters use this. d. Renewal Pending Active: Only select if you are canceling a renewal policy that is pending active.

  1. Select a reason: ** Only use one of these options** a. 99 - Insured’s Request (Flat Cancel): If the cancellation effective date matches the policy effective date. b.105 - Insured’s Request: If the cancellation effective date is after the policy effective date.

embedded in text input 4) Select the Sub-reason, Click on Add item, then use the drop down to select the applicable reason.

embedded in text input 5) Obtain a forwarding address: Ask the customer for their updated mailing address. If the insured is owed a refund check, it will be mailed to this address.

embedded in text input 6) Underwriting timing – Leave Blank

  1. Select Commit Cancel

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Step 4: Review the balance on the account. If there is an amount owed, obtain payment from the customer before disconnecting the call. If there is a credit balance (displayed in RED), provide the refund amount and advise the refund can take up to 30 days to process.

embedded in text input If there is an outstanding balance attempt to collect payment at the time of Cancellation

Step 5: Document the cancelation in Salesforce If there is a specialty request requiring a Billing Follow-Up, this must be requested in POD If a refund is scheduled for issuance: Use the template below (a refund will not be processed without this information!) Cancelation effective date: xx/xx/xxxx – Validated Address for cancelation docs: XXXX* – Validated Cancellation reason: XXXX Confirmed refund method with insured: Y/N, ________(CC (last 4)/ACH (last 4)/Check) Amount of refund: $XX.XX

If there is no refund due to the insured: Use the template below: Cancelation effective date: xx/xx/xxxx – Validated Address for refund and cancellation docs: XXXX* – Validated Cancelation reason: XXXX

Related: How will the refund be issued? Backdating Cancellations