A quote is a document that is issued by the carrier and contains the terms and conditions on which a policy will be provided, as well as its premium, limits, and deductibles, and other relevant information. You can compare different quotes and request to bind the most suitable one, after which it becomes a policy.
Some markets may provide indications. An indication is a non-binding rate that contains preliminary information on the premium. If you want a policy on these terms, you first need to get a bindable quote by answering further questions and submitting it to the underwriter on the Smart Q&A tab or the market's website. However, you can mark as indication as bound within Appulate.
In Appulate, quotes and indications are located in the Market Name column on the Markets Selector.
You can add quotes to Appulate whether you are an agency user or a market user. The buttons used to perform actions upon quotes are located in the Action column on the Markets Selector:
- you can get a quote using the Request quote button (this applies to markets with auto-quote generation, indicated by the lightning in the market's icon);
- you can get a quote using the Get instant quote button;
- you can upload a quote using the Upload quote button.
Note: If a market that provided a quote was removed from the RFQ interface, or if a submarket that provided a quote was unselected, their documents will be moved to the Docs tab of the RFQ interface.
Once added, a quote can be expanded with a cover page, released, or deleted. It can also be shared with the insured so that they could compare the quotes and decide which one they would like to request to bind.
A quote or indication's status changes in accordance with the actions performed upon them.
Uploading a quote
- Agency users can upload a quote on behalf of a market after they click Request quote on this market's level. It is applicable to markets with both Appulate and non-Appulate submission types.
- Market users can upload a quote after receiving an agency's or another market's (MGA) request for a quote, or on behalf of other markets if these markets do not use the Appulate submission type for this insurance line.
Note: If a market user uploads a quote before clicking Request quote on a non-Appulate market's level, an automatic submission will be performed (the system will react as if a submission has already been made). For now, automatic submission is available only between a submitting company and a market.
To upload a quote:
- Click the kebab-menu button on the Markets Selector and choose Upload quote from the dropdown list that opens.
- Select the file on your computer and click Open.
- Fill in the information in the Quote markup dialog (the Billing plan field is required). The dialog appears for both agency and market users.
The uploaded quote will appear under the market.
Note: The Upload quote button will appear both for the market and submarkets regardless of the root market's submission type.
If you're a market user, the Upload quote button will be displayed as the main action button on the Markets Selector.
After a quote has been uploaded, market users can edit its limits, deductibles, and estimated premium in the corresponding columns on the Markets Selector. Agency users can edit this information only if they uploaded the quote.
Note: If you want to edit the information you have entered in the Quote markup dialog, you can access it by clicking Open Quote markup in the uploaded quote's kebab menu.
Adding a cover page
After a quote has been uploaded or generated, market users can add their cover page.
Note: This action is available only to market users.
You can only add a cover page to quotes in PDF. The Add cover page or Replace cover page buttons will not appear for any other quote format. You cannot add a cover page to indications.
To add a cover page:
1. Click the kebab-menu icon on the quote level and select Add cover page in the dropdown list.
2. This opens the Add cover page dialog, where you can:
- change the policy period;
- add some remarks. You can format the text entered in the Remarks field.
Note: The Remarks field allows up to 2,000 symbols. If the resulting cover amounts to more than one page, all will be added to the quote.
In the Replace cover page dialog, the Remarks field will be prefilled with the text previously entered in the Add cover page dialog for this quote.
3. Once ready, click Add. The cover page will be added to the quote. You can replace it by clicking Replace cover page in the quote's menu.
Note: The quote with the cover page will replace the initial one on the Markets Selector. The quote you uploaded or received from the carrier will be available for downloading by clicking Download received quote in the quote's menu.
Usually, the standard Appulate cover page is added. Custom cover pages are configured for each market individually.
Releasing a quote
After adding a cover page, market users can release the quote.
Note: This action is available only to market users.
To release a quote:
1. Click the Release button in the Action column in the quote row.
2. If your market has the Quote release setting enabled (Setup menu> Settings), clicking Release opens the Send Cover Letter dialog, where:
- if specified, the agency's contact will be included in the To field (1 in the figure below). If absent, this field is left empty;
- you can choose between a default or a custom template if it's available (2). You can add a custom template in the Setup menu > Email Templates;
- the current quote and, if available, your market's cover page are attached as separate documents (3). They are attached separately as agents usually add their own cover page when sending the quote to the insured.
You can choose other attachments by clicking Add Existing. This opens the Quotes and indications dialog (4), which contains:
- the current quote or indication (the one you have on the Markets Selector);
- your market's cover page;
- the original quote or indication (the document before any cover pages have been added to it; included if it's different from your current quote or indication);
- the received quote or indication (the document that was released to you by the carrier; included if it's different from your current quote or indication).
3. Once you compose the letter, click Send. The following will happen:
- the letter is sent to the recipient (Producer or CSR);
- the quote is automatically released, appearing under a market or submarket row on the submitter's side (agency's or MGA's).
- the agency (MGA) user will receive an email notifying them that the quote has been prepared and released with the corresponding quote attached.
Note: The quote will not be released if this letter has not been sent.
Clicking the Cancel or Close buttons in the Send Cover Letter dialog will trigger a warning message: "The quote document will not be released if you do not send a related cover letter. Are you sure you want to close this window and postpone the release?"
Deleting a quote
To delete a quote, click the Delete button in the Action column in the quote row.
Note: This action is available only to the company that has uploaded or generated a quote. If a quote has already been sent for signature, the sending will be canceled in this case.
Quotes may have different icons to indicate some specifics:
A quote that has been accepted by the insured (even if it wasn't signed).
The Accepted by Insured status can be set automatically when the insured signs the quote. You can also set this status manually. If the status changes from Accepted by Insured (for example, to Requested to Bind), the icon will stay the same.
|An indication (a non-binding rate). You will need to make a submission to the underwriter to get a bindable quote.|
1. After receiving an RFQ from an agency, the market uploads a quote but does not release it. This quote is available on the market's side only, and its status is Quote Prepared.
2. The market releases the quote. The quote status on the market's side is Quote Released, and its status on the agency's side is Quote Prepared.
3. After the agency sends the quote to the insured, the status on both sides changes to Sent to Insured. If the market sends the quote, the status does not change. If you delete the uploaded quote and send an email without attachments, the quote status will not change.
4. The insured can accept or decline the quote. The quote status will change to Declined by Insured or Accepted by Insured. If the insured has signed a quote, the status will also be Accepted by Insured. The quote can also be declined by the agency, setting the status to Declined by Producer.
Note: If an agency uploads a quote on behalf of a market, the quote status will be Quote Released on the agency's and market's side.
Both the market users and the agency users can set each of these statuses at any step of the submission process. The set status can also be restored.
Information about quotes is logged on the Activity tab of the RFQ interface and the Activity Log page accessed via the Activity menu.