Generate a Quote

Quoting in Connected Underwriting P&C (CU P&C)

Underwriters can seamlessly transition from risk assessment to pricing by using the native quoting features in Connected Underwriting P&C (CU P&C). The Quote tab within a submission record enables you to create quotes and configure multiple quote options.

This page explains how to:

• Access the Quote tab
• Create a quote
• Create a quote option
• Manage quote option statuses
• Edit quote
• Edit quote options

Quoting hierarchy

To use these features effectively, you should understand the hierarchy of quoting elements:

• Quote: A container record within a submission record that houses one or more options for a specific proposal.
• Quote Option: A specific combination of coverage selections, such as D&O or EPL, and rating inputs.
• Rating Worksheet: An interactive grid used to calculate and validate premiums based on integration with the InsureMO rating engine. The quoting feature is extendable to integrate with InsureMO, enabling automated premium calculations through the InsureMO rating engine.

Access the Quote tab

To access quoting features:

1. Open a submission from MY WORKBENCH or the Submissions dashboard.
2. Navigate to the Quote tab located within the submission record.

3. View existing quotes and quote options along with their corresponding actions.

   

Create a quote

Before configuring specific coverage options, you must create a quote record to serve as the primary container for all related quote options within a submission record.

To create a new quote:

1. From the Quote tab, click CREATE QUOTE.
2. In the Create Quote dialog, enter the following fields:
   • Quote Name (required).
   • Inception Date (required).
   • Expiration Date (required). Note: This field auto-fills to exactly one year from the inception date but remains editable.

3. Click CREATE.

   

Create a quote option

Quote options allow you to present different scenarios—such as varying deductible structures or limit levels—within a single quote.

Configure Rating Inputs

1. In the Quote tab, click CREATE QUOTE OPTION.
2. Enter a Quote Option Name.
3. Select the Coverage Name, such as D&O, EPL, or both for Management Liability LOB.
4. Configure additional coverage details. The available fields depend on the coverages selected:
   • Shared Aggregate: Select Yes or No. This field only appears when more than one coverage is selected.
   • ERP: Select a duration from 1–6 years.
   • Aggregate Limit: Select the maximum amount the insurer will pay for all claims.
   • Retention: Select the deductible amount (retention) the insured must pay for each coverage.
   • Side A: Enter the specific limit amount.

   • Third Party Liability: Select Include or Exclude.

     

5. Click NEXT.
6. Once the Rating Worksheet appears, review and enter the following fields:
   • Default Premium: The starting point for calculation.
   • Suggested Premium: Automatically calculated by InsureMO when the integration is enabled. If the integration is not configured, enter the value manually.
   • Minimum/Maximum Premium: The valid range for the suggested premium.
7. (Optional) Edit the Suggested Premium. Note: The system displays a validation error if the value falls outside the minimum or maximum bounds.

8. Click CREATE.

   

Manage Quote Option Statuses

Quote options progress through the following statuses to reflect their stage in the workflow:

• Draft: The initial state when a quote option is saved but not yet submitted for a rule check, typically because the rating worksheet is incomplete.

  

• Ready: The status assigned when a quote option is first fully created and is prepared for automated referral rule checks.

  

Edit Quote

The Quote is the primary container for one or more quote options. Editing it modifies the high-level details of the entire proposal.

• Access: From the Quote tab, select a quote from the left-hand panel and click EDIT QUOTE.

  

• Editable Fields:
  • Quote Name.
  • Inception Date.
  • Expiration Date (automatically defaults to one year after inception but remains editable).
• Click EDIT to save the changes.

Edit Quote Options

You can modify an existing quote option to update coverage terms, limits, or premiums before the final quote is issued.

1. In the Quote tab, locate the specific quote option you want to modify.
2. Click the three-dot icon on the top-right of the quote option card.

3. Select Edit Quote Option.

   

4. Update Rating Inputs:
   • Modify the Quote Option Name or Coverage Name.
   • Adjust the Per Claim Limit, Aggregate Limit, or Retention for each coverage.
   • Update additional details like Side A, ERP (in years), Shared Aggregate, or Include Third Party Liability.

5. Click NEXT.

   

6. Update Rating Worksheet:
   • Review or change the Suggested Premium. Note: The system displays a validation error if the value falls outside the Minimum or Maximum Premium range.

7. Click EDIT to save your changes and update the quote option.

   

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