Sample Proposal and Quote Procedures

  • When prospect calls agency, direct the call to appropriate producer for evaluation or quotation. 
  • Producer determines eligibility, per individual company and agency underwriting guidelines. Proceed with quote if appropriate. Obtain appropriate underwriting information is obtained. Use standard agency coverage checklists.
  • Create prospect in agency management system.
  • Prepare quote. Advise prospect of need for any further information or documentation that will be required prior to binding coverage or issuing policy. Use agency standard quote letter or proposal. Send or deliver to prospect.
  • Suspense for 30 days or effective date of quote, whichever is earliest.
  • Create activity in agency management system. 
  • If no action taken by prospect in 30 days, change to Suspect in system and send letter confirming coverage not placed. No further action necessary.
  • If prospect wishes to purchase, set appointment for producer to complete and sign application and obtain necessary underwriting information/documentation. 
  • If necessary, re-rate based on current documentation and provide prospect with updated quote. Advise that if documentation is provided, an endorsement will be issued to the policy.
  • If application is complete and payment is received, producer may bind coverage. (NOTE: Producer is responsible for determining binding authority with carriers and must not exceed express authority.) REFER TO NEW BUSINESS PROCEDURES.
  • If coverage is placed with a non-admitted carrier, REFER TO SURPLUS LINES NEW BUSINESS AND RENEWAL PROCEDURE.