Get Multiple Commercial P&C Quotes with ONE Submission?

[thecommercialguy]

Can anyone, who is already using Applied or Vertafore tell me about their experience with this kind of system?

An Applied TAM sales rep told me yesterday that I could:

1. Input client exposures into Applied
2. Hit a button that automatically sent my exposures to multiple carriers
3. The carriers would respond real-time with their quotes
4. And I could bind by following the link on each insurer's response.

If this works, it would help everyone save so much time!

a) Does it really work?
b) What about the carrier nuances (we all know they ask similar questions, but in different ways).
c) What were the biggest problems for you?

I don't to want to get into a system and find that it doesn't nearly work as smoothly as they say it does....

Thanks all!

Hayato
closingcommercial dot com

 

[INSUREGEEK]

In my carrier rep days - I actually taught agents how to use this feature with Applied.

Short answer - yes it works.....BUT a few caveats:

Your ACORD apps in Applied have to be very complete and correct > Garbage in = Garbage out

You have to be very familiar with each carrier's own rating engine/website and underwriting to understand what happens after your hit send

CL carriers often have differences in "where" their system looks for info in Applied so knowing these quirks can be helpful if you have 1-2 preferred carriers you like to quote

Not all carriers support all lines of CL business either. The biggest issue being the package vs BOP differences between carriers....see my note about being very familiar with your carriers

I found it most useful as a simple data dump. Open the Transformation Station and send the app over to the carrier systems. Some carriers might return a quote (if you did everything exactly right) and some might start shooting questions at you on the Applied side. I would exit at the point and just go straight to the carrier's website and answer the questions there. This is how I did small CL and PL bookrolls.

I'd highly advise contacting the IT Support folks at your carriers and asking them for a demo of how it work with their products. They should all be able to show this to you.

Good Luck!