Description: OpenQuote is an open source system designed to produce insurance quotations using the Internet.
OpenQuote can be configured to work for any line of business, it uses business rules (risk evaluation and rates) that can be set up in a Microsoft Excel spreadsheet. Many different insurance products can be run and controlled from OpenQuote at any one time.
The system can be made available to brokers and proposers, quotes can be made and saved for the broker or proposer to return to at a later date. OpenQuote can issue quotation documentation to the broker or proposer and keep the Underwriter informed about all quotations and when they are accepted.
Processed quotations and accepted quotations can be packaged up as an xml message for policy administration systems to use, this provides a mechanism to help automate transition from quote to policy.
- Reduce time to bring new products to market
- Lower cost of product creation
- Improve consistency of client interaction
- Reduce cost of product ownership and management
- Empower business users to easily prototype products
- Enable business to quickly react to market trends
- Allow business to explore new lines of business
- Produces insurance quotations
- Fully web enabled
- Handles multiple lines of business simultaneously
- Handles multiple insurance products simultaneously
- Spreadsheet configured risk evaluation rules and rates
- Handles broker and direct to market sales
- Quotes are saved for later review/take up by proposer
- Produces and issues quotation documentation
- Informs underwriter when quotes are generated and accepted
- Automatic screen generation
- Product inheritance for faster time to market
- XML to aide policy administration system integration
Related: Business, quotations, Insurance, market, Products, handles, proposer, openquote, broker, System, saved, simultaneously, Documentation, Multiple, quotation, Policy, reduce, Product, Lines, Administration
O/S:BSD, Linux, Solaris, Mac OS X
File Size: 209.3 MB