Submission general steps

The following diagram shows the basic steps to create a submission in the base configuration of PolicyCenter. Your business requirements can alter the process. Also, the steps may differ slightly between personal and commercial lines and in how you access the submission screens.



The steps are sequential:
  1. An applicant wants a policy and contacts a producer about purchasing a policy.
  2. Name clearance occurs: This is the process of checking against one or more agent or account databases to ensure that the account is not already an existing customer and is not represented by another producer for this policy type. Once an account has bound or issued a particular policy type for a specific policy period, it may be risk reserved. If there is no existing account, then a new account is established.
  3. Select a product: A product can be thought of as a line of business, such as personal auto policy, workers’ compensation, or businessowners.
  4. Determine the type of submission: A producer can select either:
    • A Quick Quote which requires less information and produces a quote which is not bindable. Quick quotes are useful for determining if the policy can be priced at an amount that is agreeable to the applicant.
    • A Full Application which requires more information but produces a bindable quote.
  5. Prequalify the applicant: A producer may ask a series of prequalification questions to determine eligibility. Depending on the answers, the submission may be referred to underwriting. In either case, continue to the next step.
  6. Gather more information: A producer asks specific questions regarding exposures, coverages, and terms for each coverage. Questions can be different depending on the business line.
  7. Generate a quote: If quick quote was selected, then a producer can convert it to a full application. This step requires additional information and is bindable.
  8. Regenerate a quote, if necessary: If the quote is not competitive, then the prior step can be repeated (using multiple versions) until it becomes competitive.
  9. End a submission: Possible outcomes to a submission:
    • A policy is issued. In other words, if the submission can be bound and issued, the submission becomes a policy.
    • A submission is closed. It can be withdrawn (when there are mistakes), declined (the insurer decides not to offer a policy), or not taken (the applicant decides not to accept.)