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🥶Cool-Off Cancellation

The Cool-Off Cancellation feature allows customers to cancel their policy within a predefined period after purchase.

When a cancellation occurs within this allowed window, the system automatically issues a refund according to the pricing logic you have configured.

This feature helps ensure compliance with cooling-off regulations and improves customer experience by offering a simple, automated cancellation workflow.

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How the Cool-Off Period Works

  • After a customer purchases a policy, a cool-off window begins.

  • If the customer submits a cancellation request within the allowed duration, the system:

    • Accepts the cancellation, and

    • Issues a refund based on your pricing logic configuration.

You determine the refund behaviour by setting up a pricing example that the system uses to calculate refunds.

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Set Up Your Pricing File

Before you can activate the cool-off functionality, you must add a pricing file.

To do this:

  1. Click "Go to Pricing Logic Settings".

  2. Follow the instructions on the Pricing Logic page.

  3. Return to the Cool-Off Cancellation product feature.

  4. Ensure your pricing file is selected.

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How the System Behaves After Setup

  • A customer purchases a policy.

  • They choose to cancel within the cool-off duration.

  • The system references your selected pricing file to calculate the refund.

  • The customer receives the refund automatically.

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