Requoting is a fundamental step in the renewal process but is often not performed consistently enough due to the time-consuming and inefficient nature of the task. On average, one policy may require anywhere between 10 to 30 minutes for a broker to requote. This creates a significant challenge for brokers who have limited time but also want to obtain better insights into their book of business and proactively provide their clients with more choice in a hard market. 

Quandri’s Policy Requoting capability streamlines the renewals workflow by automating the requoting process. Brokers are equipped with data-driven insights needed to better understand their entire book of business and are empowered to proactively reach out to clients to review options, ultimately driving improved retention and stronger relationships with clientele. 

How it Works 

For every renewing policy that meets the specified trigger criteria, Policy Requoting will automate the following workflows:

1. Extract renewing policy data from Epic
2. Access Applied Rating Services (ARS) 
3. Locate the insured’s profile in ARS 
4. Create a new quote line and update all relevant underwriting fields 
5. Generate quotes  
6. Summarize quote results in an activity note and attach relevant quote sheets in Epic 
7. Reassign renewal activity to the broker for review 

Brokers are now prepared to have meaningful conversations with their clients and can focus on determining the best next step in the renewal process for their clients.