The quote flow is a series of steps that a user walks through to quote a policy for potential new business. In BritePolicies and BriteQuote, the quote flow can be customized for each carrier to meet the needs of its organization. In general, the quote flow will consist of screens that gather basic information about the policy and policy type, the named insured(s), additional interests, the risk(s), and the coverages included in the policy. Based on this information, a rate is calculated.
After the quote is rated, it is reviewed. Upon approval, the user can enter billing information and bind the quote.
The following components of the quote flow are configurable:
- The series and order of quote flow steps.
- The fields that display in each step.
- The order that the fields display in.
- The appearance of the fields.
- Actions the user can complete in each step.
For more information on the configurable components of the quote flow, see Customize quote flow.
Rules that determine accepted responses, permitted behaviors, and approval or denial of a quote can also be established and defined per carrier. For more information on rules, see the Rules section below.
Due to the configurable components and carrier-specific rules, the quote flow will appear and behave differently per client.
There are three types of rules that impact the quote flow: validation rules, behavior rules, and underwriting rules.
Validation rules are developed to verify that the information input into fields meets certain requirements. For example, if drivers added to a policy must be at least 16 years old, then a validation rule can be added to the Date of Birth field for a driver that ensures that drivers added to the policy are at least 16 years old. With that validation rule, if a user enters a date that indicates a driver is less than 16 years old, a warning message will appear, and the user will be prevented from moving to the next step in the quote flow process.
Behavior rules are developed to prevent or allow specific behaviors in the quote flow process, such as adding or removing fields, adding or removing coverages, and changing values in the quote.
Underwriting rules are rules used to determine if a quote should be declined, approved, decline all or specific coverages to a risk. Underwriting rules can also be used to limit coverage by offering higher deductibles or lower liability limits. Underwriting rules will determine if a policy is declined, approved, or requires underwriting review.
Initiate the quote flow
To initiate the quote flow, in the Policies and Quotes module, the user can select New Quote in the Policies menu or they can select + Create a New Policy on the Policy Search screen. After the user selects one of these two options, the system will direct the user to the New Quote screen, where they can select the effective date and policy type. After the effective date and policy type are selected, the system will direct the user to the first step in the quote flow.
When a user accesses the quote flow, the user will notice a right sidebar that lists the number and title of each step in the configured quote flow. The highlighted step indicates the current step.
Depending on the configuration and the current step, the right sidebar can also display:
- The quote number.
- The policy type.
- The effective date of the policy.
- The term length and date range of the policy.
- The Total Premium.
After the effective date and policy type are selected, the quote flow will open. A quote number is generated based on the Line of Business (LOB).
In the first step(s) of the quote flow, the user gathers information about the agency, agent, and named insured. Depending on the configuration, Pre-Qualification Questions may also be required. The answers provided to these Pre-Qualification Questions can determine if the quote is automatically declined.
Based on the underwriting rules that determine the approved answers to Pre-Qualification Questions, a quote can be declined or can continue in the quote flow process.
If the quote doesn’t pass the underwriting rules assigned to the Pre-Qualification Questions, it will be declined. If established underwriting rules are set to automatically decline a quote that answers Pre-Qualification Questions with Yes, then a warning message will appear at the top of the screen that says:
Applicant not eligible. Unable to continue this quote.
Users can’t proceed in the quote flow when a quote is declined.
If the quote is approved, the user can continue in the quote flow process to add information about risks and rate the quote.
Risks and coverage selection
In the risks section(s), users can add details about the risks that will be insured by the policy. The available risk fields will depend on the LOB or policy type selected for the quote. For example, on a Personal Auto policy, the risk screen may be titled Vehicles. The associated fields will be vehicle-specific, such as VIN, Make, Model, License Plate, etc.
A list of Core and Optional Coverages will appear. The user can select the limit of the Core Coverages and can select the Optional Coverages and their associated limits to include in the policy.
Information provided about the risk and the coverages selected will impact the rate calculation and determine if the policy is approved through straight-through processing or if the policy requires underwriter review.
Quote flow review and rating
After risk information is added and coverages are selected, the user can review the quote information for accuracy prior to calculating the rate of the quote. Depending on the configuration, the quote review can also include answering additional required questions.
The user can rate the quote after it is reviewed and any additional questions are answered. The user will rate the quote by selecting the Rate Quote button.
Once the quote is successfully rated, it can be submitted. When users submit a quote, the system will rerun the rating and will check the established rules to determine if the quote is approved through straight-through processing or if it requires underwriter review.
Straight-through processing (STP)
If the quote is approved without requiring underwriter review, then the user can submit billing information and bind the quote. If the quote is approved via straight-through processing, a message will appear on the quote flow screen notifying the user that the quote was approved.
Underwriter review required
If underwriter review is required, a message will appear on the quote flow screen notifying the user that underwriter review is required. BriteCore will notify the underwriter via email. The underwriter can review the quote in the Underwriter Queue and approve or decline the quote.
BriteCore will notify the agent via email when a quote is declined. If a quote is declined, the quote flow is complete.
When a quote is approved, BriteCore will notify the agent via email. The agent can access the quote to review, add billing information, and bind the quote. When the policy is bound, the system will rerun the rating and check the established rules to ensure no new rules have been triggered, which would require an additional review.
Within the quote flow process, the underwriter can modify the quote. If the underwriter chooses to make direct modifications to the quote, an additional agent review may be required. If an agent review is required, BriteCore will notify the agent via email. The agent will review comments and make modifications and then send the quote back to the underwriter. When the quote is sent back to the underwriter, BriteCore will notify the underwriter via email. If additional review is required, this cycle can repeat. If additional review isn’t required, then the underwriter will determine if the quote is declined or approved.
On the Billing screen, users can designate the bill whom, add payment methods, select the payment or billing schedule, and view the Payment Schedule Preview.
After the information is added and the quote is approved, users can view the risks of the policy, the policy premium, and select Bind Quote. When a quote is bound, it becomes an active policy.
Quote flow considerations
- Highlighted fields and/or fields with an asterisk (*) are required fields.
- Multiple screens may be included within one quote flow step. See Customize quote flow for more information.