A new business quote is an estimate of premium for insurance coverage. A completed quote may be approved automatically if it meets certain criteria for straight-through processing (STP), or it may require underwriter review. Once the quote is approved, you can add billing information to, finalize, and bind the quote.
To submit a quote:
- Select Policies and Quotes.
- Select Create a New Policy, or in the Policies menu, select New Quote.
- In the Effective Date box, type or select the effective date.
Note: Depending on your company’s Quote configuration, there may be restrictions on effective dates.
- Select Start a Quote.
- Follow the onscreen steps to complete the quote.
Note: If the applicant isn’t eligible for coverage based on responses to prequalification questions, a flag will display at the top of the quote that says Applicant not eligible. Unable to continue this quote.
- Review the quote to ensure all the information is correct.
- Select Submit Quote.
Important: If your quote is approved automatically with STP, you can finalize and bind the quote. If the quote needs to be reviewed by an underwriter, select Request Review and return to the quote once it’s been reviewed. See Search for policies using the Policy Search screen for more information on locating and returning to the quote.
- Once the quote is approved, follow the onscreen steps to add billing information.
- Select Bind Quote.
BriteCore will display real-time changes to the Pro-Rata Premium and Policy Term Premium in the Policies menu as you add information to a quote. BriteCore automatically saves the changes you make; you can leave the quote and return to it later if you need to.