Quote

The Quote option is used to create a new or revised quotation/indication. Each time a quote is issued in AIM, it is assigned a version letter, which is displayed on the Versions tab. The first version of a quote is given the version letter A; the second version is given the version letter B, etc. For example, the first time you create a quote you could be assigned the quote number 9900048A. The next version of this quote would be 9900048B.

In the steps that follow, we show you how to enter quote information.

On the Main tab, select the submission record that you want to quote.
On the Submission menu, click Quote.
Alternatively, you can right-click in the grid and click Quote.

When entering information about the quote on the General tab of Submission Entry – Quote Detail – Pg. 2, you can click to make a selection from the appropriate list, or click to use the Market Finder Wizard or the UW Checklist (underwriting checklist).
1. Mkt Co. – market company, that is, the third party used to access the risk company
2. Risk Co. – name of carrier issuing the policy
3. Product – product offered by the risk company
4. Form – coverage form that applies to the product

In the Terms pane, enter the following quote information:
1. Premium – term premium for the policy (Click to open the Premium Distribution dialog box or, if multi-option was selected, the Multiple Option Quote dialog box.)
2. Total Fees – total taxable and nontaxable fees that apply to this policy (Click to edit the Fee Schedule.)
3. TRIA Premium – indicates whether Terrorism Risk Insurance Act (TRIA) applies to this quote (Click to open the Terrorism Act Premium Endorsement dialog box.)
4. Taxes – Surplus Lines Association (SLA) and stamping fees that apply to the policy (Click to open the Surplus Lines Tax Calculator or, if NRRA was selected in Submission Entry, refer to the Multi-State Taxes NRRA workflow.)
5. MEP – minimum earned premium (MEP) for the policy
6. Coinsure – coinsurance percentage for this policy
7. Deduct – indicates whether the policy contains deductibles or self-insured retentions (SIR)
8. Retro – retroactive date for the policy
9. Eff. – effective date for the policy
10. Term – policy term
11. Exp. – expiration date of the policy

A default premium schedule can be created for products in Data Maintenance Utility (DMU). If a default schedule exists, you will be prompted as to whether you want to copy the product defaults to the submission. If you do, the Premium field will not be editable. You can click the magnifying glass button to open the Premium Distribution dialog box.

Likewise, the agent and gross commissions can be defaulted using a premium schedule in DMU. In these cases, you can choose whether to override the default commissions with the policy commissions. In such cases, the commissions are not editable in Submission Entry – Quote Detail – Pg. 2.

In the Commission pane, enter information about the commissions that apply to the quote.
1. Gross – gross agency commission percentage
2. Agent – retail agent/broker commission percentage
3. Unlabeled box – award level of the retail agent/broker, if applicable, populated automatically

Select any of the following options to indicate whether the option applies to the quote.
1. Direct Bill – Policy will be direct billed.
2. Indication – Quote is to be an indication only.
3. Taxed – Policy is subject to SLA taxes.
4. Multi-Option – Multiple limits options are to be provided in the quote.
5. Financed – Policy is to be financed.
6. Renewal – Quote is for a renewal.
7. Brokerage – Quote is brokered business.

The Brokerage option may appear as a list containing a Yes or No option if the Use Brokerage Billing option is enabled in the Data Maintenance Utility System Parameters. If Use Brokerage Billing is enabled, the Brokerage list can also be made a required field in AIM.

Review the grids for accuracy.
1. Limit – limits being quoted
2. Coverage – coverage being quoted (Click to select from the list.)
3. Deductible – deductible amount being quoted
4. Applies to/Limit – indicates what the deductible applies to (Click to select from the list.)

The Coverage and Applies to/Limit lists are populated via the Vertafore Policy Issuance (VPI) mapping settings in Data Maintenance Utility (DMU). You can also enter limits and deductibles by typing in the field, however, only those options shown on the list are captured and sent to VPI.

Continue entering quote information on the tabs provided. Click or to scroll the list of tabs.

In the following table, we will discuss the function of each of the buttons shown in the Submission Entry – Quote Detail – Pg. 2 dialog box.

Button	Function
	Return to Submission Entry (see New Submission)
	Create a quote
	Bind the quote into a policy
	Save changes and close the dialog box
	Abandon changes and close the dialog box