Quote and Apply

The Term Life Quote & Apply solution enables the deployment of a completely digital insurance quotation process.

In the Term Life Quote & Apply FintechOS Portal menu, The Quote and Apply section is found, having the following subsection:

The Quote Life subsection contains a list displaying all the records of the quotations made up to that point. These are sorted by the date and time of creation, in reverse chronological order, as presented below.

Each time a quotation is being made, a record is created and saved, and the user has the possibility to view the records of each of the created quotations in this grid.

The grid contains the following columns:

  • Created On: The date and time at which the record was created.

  • QuoteLife No: The unique record number.

  • Policyholder: The full name of the policyholder.

  • Insured: The full name of the insured.

  • Agent: The full name of the agent.

  • Business Status: Taken from the businessStatus attribute of the FTOS_INSQB_QuoteLife entity.

  • Expire Date: Taken from the expireDate attribute of the FTOS_INSQB_QuoteLife / FTOS_INSQB_QuoteVersion entity.

In order to edit the responses in the Client Consent step, the user needs to follow the below steps:

  1. In the Quote Life grid, double click the specific quotation record.

  2. Click the Next button in the Agent Details step. The fields of the Agent Details step are not editable.

  3. Modify the answers in the Client Consent step. Make sure the mandatory consents are ticked, otherwise one or both of the following error messages is displayed: "Data processing agreement is required" or "Financial advice agreement is required".

  4. Click the Next button, and the following message is displayed: "Record Updated."

  5. If the user clicks the Previous button in the Personal Data step, the consents will no longer be editable.

The grid can be exported into an .xlsx file, by clicking the Export button, located on the top right corner.

The output is given in the image below.

The user can delete any of the records in the Existing Life Quotes grid, by ticking one or multiple records, and clicking the Delete (x) button on the top right corner.

The user can also start a new quotation by clicking the Insert (+) button on the top right corner of the screen. The same journey as in the New Life Quote section from the Quote and Apply menu starts. The only difference is that when starting a new journey from the Existing Life Quotes screen, and then clicking the Go Back button on the top left corner in the process, the user is taken back to the Existing Life Quotes screen, and does not remain in the first step of the journey.

Click the Insert button on the top right of the page. This directs you to a screen where the quotation flow process begins, with the first step, Agent Details.

The Term Life Quote & Apply solution handles different types of changes affecting an insurance quotation flow. The transitioning of a quote through different business statuses (ex. from Initiated to Final) is only done manually, triggered by clicks, as the agent progresses with the flow.

Status Description
Initiated Triggered when the user clicks Next in the Agent Details step, to go to the Client Consent step. The Initiated status is displayed on the Client Consent page.
Applicant Data Triggered when the user clicks Next to go to the Personal Data page, where this status is displayed.
In Progress Triggered when the user clicks Next to go to the Quotation page, where this status is displayed.
Initial Quotation Triggered when the user clicks Save Quote, for the first time, on the Quotation page.
Final Quotation Triggered when the user selects a quotation, and then clicks Next to go to the Summary page, where this status is displayed.
Generated Quotation Triggered when the user clicks Generate Quotation, on the Summary page, in the Generate Quotation section.

The flow can also have the following status transitions:

NOTE  

The status of the quotation is displayed next to the Back button as "Current Status: X".

In order for any status transition to be made, all mandatory fields for each step must be completed.

The following status transitions are used during the quotation flow:

  • Initial quotation / Final quotation / Generated quotation → Expired: This status transition is made if the quotation has one of the Initial quotation, Final quotation or Generated quotation statuses, and if it exceeds the expiration validity of 30 days since its status became Initial Quotation. In order for the quotation not to expire, the status must change from Generated quotation into the next status within 30 days.

  • Initiated / Applicant data / In progress → Expired: This status transition is made if the opened quotation, one of these statuses, exceeds the expiration validity of 15 days since its last status transition.

  • Applicant data / In progress / Initial quotation / Final quotation / Generated quotation → Closed: this status transition is made if you choose to click Quit on the pages or steps where this button is available.

IMPORTANT!  

If you exit the quotation flow or move through the flow backwards, the solution always maintains and displays the last status reached during the quotation flow.

HINT  

You can create your own business workflow steps, or just change the execution order of the steps above, if needed. For details, consult the Business Workflow Processor documentation.