Oracle® Insurance Policy Administration 9.4.1.0 E23637_01

# Unit Value Correction

Unit Value Correction is an ad-hoc request that will correct unit allocations due to incorrect fund prices. This activity will identify all activities that used the incorrect price and adjust the unit holding to reflect the correct price. It will also adjust any activities that happened after the correction to reflect the new fund value.

The activity spawns a policy level activity that appears in the Activity list, which indicates that a rollback occurred. It will also undo unnecessary activities. In the screenshot below, the activity that is spawned is the PolicyPriceCorrection activity. This activity will appear on the Activity screen of every policy in the plan that meets the criteria for the price correction.

### Steps to Process Unit Value Correction Activity

1. Click Plan on the Main menu.

2. Click Add Activity on the Secondary menu.

3. Select Unit Value Correction from the activity drop down box inside the Activity Window.

4. Enter the effective date when the unit value correction will be applied to the plan.

5. The activity name should be listed in the Transaction Name box. This is the activity that was created in the Rules Palette to perform the unit value correction.

6. Select the number of funds to adjust.

7. Enter the new values.

8. Enter the Correction date. Funds from this date forward will be adjusted. This activity will generate policy-level activities for all applicable policies.

9. Click OK.

Note: To see the policies affected by this activity, run a unit value correction inquiry.

Add Activity Window with UnitValueCorrection Selected

PolicyPriceCorrection Activity on the Activity Screen

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