{"version":"0.35.0","built_at":"2026-10-24T11:24:42.001Z","license":"CC BY 4.0 © Mike Reams","canonical":"https://catalog.mikereams.com","value_stream":{"id":"VS-440","name":"Quote-to-Bind","industries":["financial-services"],"description":"Carry a request for insurance cover, from an applicant or a broker, through underwriting to a bound, issued and billed policy with reinsurance arranged where needed. Changing or renewing the policy afterward is policy administration; claims start First-Notice-to-Settlement (VS-450).","outcome":"The insured holds an issued policy on agreed terms, premium is billed, and the insurer's retained risk is within appetite.","trigger":"An applicant or a broker submits a request for a quote or for cover.","aliases":["New Business","Submission-to-Issue","Quote-to-Issue","Policy Acquisition"],"stages":[{"id":"VS-440.10","order":1,"name":"Submit & Clear","description":"Take the submission, check it is complete, and clear it against other submissions for the same risk.","capability_ids":["BC-1740.20"],"events":[]},{"id":"VS-440.20","order":2,"name":"Underwrite & Price","description":"Evaluate the risk, check accumulated exposure, apply the rating plan and coverage options, place facultative reinsurance where the risk needs it, and refer anything outside underwriting authority.","capability_ids":["BC-1740.20","BC-1740.10","BC-1740.50","BC-1770.30"],"events":[]},{"id":"VS-440.30","order":3,"name":"Quote & Bind","description":"Issue the quote and, on acceptance, bind cover from the agreed date.","capability_ids":["BC-1740.20","BC-1740.30"],"events":[]},{"id":"VS-440.40","order":4,"name":"Issue & Bill","description":"Issue the policy documents, set up the premium payment plan and record the broker's commission.","capability_ids":["BC-1740.30","BC-1740.40"],"events":[]},{"id":"VS-440.50","order":5,"name":"Cede to Treaties","description":"Cede the share of the risk the treaties cover and update accumulated exposure, so retained risk stays within appetite.","capability_ids":["BC-1740.50","BC-1740.20"],"events":[]}]}}