Oracle® Insurance Policy Administration 9.4.1.0 E23637_01

You are here: Policy > Create New Policy

# Create a New Policy

Create and manage policies in OIPA through the Policy screen. Each policy should be associated with a company and plan. A policy can be given a policy name to make it easier to find during a policy search.

Refer to term life cycle or variable annuity life cycle to see an example of the stages a policy moves through from creation to termination.

Note: Once a policy is created and a policy number is assigned, the policy cannot be deleted.

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### Steps to Create a New Policy

1. From the Main menu, select Policy | New. The Left Navigation menu will contain the links for each section of the policy.

> - Company is the company the policy is associated with. There can be multiple companies or subsidiaries or just one primary company.

> - Plan Group is the group multiple plans are placed in for organizational purposes. The Plan Group field is only visible if Plan Groups are turned on.
> - Plan is the brand name of the company’s proprietary product.
> - Plan Date is the date used to record policy application information.
> - Policy Name is an optional secondary identifier for the policy. This helps identify policies during a search.

2. Enter the specific policy information. This will vary according to the type of policy being created.

3. Click the Save button when finished.

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Once a new policy is saved, the Policy Number field is populated with a unique policy number. Assign roles, segments and activities to the policy to bring it into active status.

Note: Activities and segments cannot be added to a policy until the roles have been assigned.

Policy Links on Left Navigation Menu with Plan Group Functionality Turned Off

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