Quote cloning for business intelligence

Some insurance companies have a need to capture information from quotes that users and other processes generate through the course of the day. Quote cloning provides one approach for retaining some of this information long enough to capture it for business intelligence (BI) needs.

While writing policies for a customer, service agents often produce several quotes for the customer. For example, the customer wishes to see how the quoted premium changes with variations in levels of coverages or deductibles.

Without quote cloning, interim quotes are not available for capture during nightly processing for business intelligence (BI) needs. Quote cloning provides one approach for retaining some of this information long enough to capture it for BI needs. This feature also provides a mechanism for removing the clones from the PolicyCenter database after the information has been captured by an external system.

Quote cloning provides a framework for creating cloned copies of policy period quotes. Clones can include quotes that never result in a bound policy. Cloned quotes can be generated from submission, policy change, reinstatement, renewal, and rewrite policy transactions.

This framework is disabled in the base configuration.

In your implementation, you define these characteristics:

• Which quotes to clone. For example, you can process only submissions for new customers.
• How to process the cloned quotes. For example, you can configure quote cloning to process these clones as they are created. The processing extracts data from the cloned policy periods then saves that data to the external BI system. Alternately, you can create an integration that does an ETL extraction to the external BI system. This extraction might occur nightly.
• How often to purge processed clones. If you process the clones as they are created, you may choose to purge the clones every hour. If the processing occurs nightly, you may choose to purge the clones after the integration finishes the ETL extraction.
• Which processed clones to purge.

Quote cloning does not have an end-user interface. It provides a framework that automated processes can use to generate BI data. Quote cloning is not intended to provide additional end-user functionality. The captured data does not appear in the PolicyCenter user interface.

If you need an end-user feature to create and compare multiple versions of a quote, PolicyCenter provides several options. For more information, see Side-by-side quoting, Multi-version quoting, and Copying submission information.

See also

• Configuring quote cloning for business intelligence