02 — Capability · BC-1740.20
Quote & Underwriting
Decide which risks to accept and on what terms, quickly and within authority, and turn each accepted risk into a quote the applicant or broker can bind. Assumed reinsurance treaties are underwritten here and booked through cession and bordereaux processing; credit underwriting for loans sits in the lending lens.
- Insurance Underwriting
- New Business Underwriting
- Underwriting Desk
In scope
- Submission and application intake from brokers, agents and direct channels
- Risk assessment, evidence gathering and underwriting decisions
- Quote preparation and binding terms, including assumed reinsurance treaties
- Underwriting authority, exposure accumulation and producer licensing
Out of scope
- Credit underwriting of loans (see BC-1720.20)
- Sales quoting for non-insurance products (see BC-430.40)
Realized by · 0
- No product in the catalog yet.
Used in · 4
Build it · 0
- Nothing in the library points here yet.
Decomposes into · 6
- BC-1740.20.10Submission Intake & ClearanceReceive applications and broker submissions, check for duplicates and conflicts, and route each one to the right underwriter with the data it needs.
- BC-1740.20.20Underwriting Risk EvaluationGather evidence such as inspections, loss history or medical information, judge the risk against appetite and guidelines, and decide to accept, modify or decline it.
- BC-1740.20.30Insurance Quote PreparationProduce a priced, documented quote with terms, conditions and subjectivities that the applicant or broker can accept and bind.
- BC-1740.20.40Underwriting Authority & ReferralSet how much risk each underwriter may accept by line and limit, and send anything beyond that to the right senior underwriter with a recorded decision.
- BC-1740.20.50Exposure Accumulation ControlTrack how much insured value the insurer has written in each peril zone, building or portfolio, and stop or refer new business that would push an accumulation past its limit.
- BC-1740.20.60Producer Licensing & AppointmentConfirm that every agent and broker who sells or services a policy holds a current license for the line and jurisdiction and is appointed by the insurer before business is accepted from them.