FIRST HOME QUOTE TUTORIAL 08/13/14

Transcription

1 FIRST HOME QUOTE TUTORIAL 08/13/14 1

2 FIRST HOME QUOTE TABLE OF CONTENTS INTRODUCTION.... START A QUOTE ADDRESS ENTRY.. HOME TYPE (POLICY FORM) SCREEN NAVIGATION... BASIC INFO... Name Entry Construction Type Year Built/Year Purchased or Occupied, Square Footage, Optional Replacement Cost Construction Characteristics Descriptions Link (Construction Characteristics) Mailing Address Previous Mailing Address Protective Device Optional Construction Characteristics Unique Questions Report Ordering NCF Reports Bankruptcy Report Ordering (No Hit) Public Records Verification PRELIMINARY RATE. MSB (Marshall & Swift/Boeckh) Mail Proposal Quote Details HOME DETAIL QUESTIONS FINAL RATE COVERAGES Quote Information Select Coverages Scheduled Personal Property Rate the Quote ADDITIONAL INTERESTS.. Add Additional Interest Not In List Other Options Renewal Bill To Change Mortgagee Sequence Delete Mortgagee PAYMENTS. Issue Policy Now Insured to pay Issue Policy Now to be paid at closing Mail Invoice bound upon payment posting POLICY APPLICATION. Forms Acknowledgment CLUE Report Submit and Issue COMPLETED.. 2

3 INTRODUCTION The following FIRST Home Quote Tutorial will provide a step by step guide to our to Home Quote process. The FIRST Home Quote is designed with built in edits and prompts. If the quote recognizes a possible eligibility issue it will result in a message prompt or edit. As you Navigate through the quote simply follow the screens and prompts. For Quote assistance contact Customer Service at or click on our ONLINE Live Support chat Icon that is located throughout the Quote screens on FIRST. 4

4 START A QUOTE Quote options are located in the left hand column on the Client List screen To begin a new Quote select the desired State from the Quote New Home Drop Down Select Menu Existing Quotes can also be accessed via the drop down select menu. Always select the Update option if you intend to make changes on existing quotes. 5

5 ADDRESS ENTRY Please enter the address you intend to insure. Note: Always verify the address for accuracy before hitting Next. Once the Next tab is selected the address cannot be updated. 6

6 ADDRESS ENTRY Quotes run a USPS address scrub to verify the address. If the address is not recognized this will result in an edit. If you receive this edit, please check the address. If the address is correct, please contact customer service at We will request that the address is added into the master database. This can take up to 1 business day. 7

7 BASIC INFO Home Type Once the address is entered and accepted Select the desired Bind/Effective Date Select a Home Type option from the Drop Down Select Menu. Depending upon State availability the Home Quote options may include the following Forms: HO3 HO4 HO5 HO6 Select the option that matches the risk to proceed. 8

8 QUOTE SCREEN NAVIGATION As you navigate thru the quote a Home Insurance Quote Screen Tab Bar will appear at the top of the screen. The Quote Number and Client Name will appear in the upper left hand corner of the quote screen. While navigating through the quote the current entry screen and the Client List tab will always appear in Green. You cannot navigate from screen to screen by clicking on the desired tab. Navigation is only available by using the Back and Next tabs. To Exit the quote, click on the Client List Tab Failure to do so may lock up the quote. Quotes will save up to the point of screen completion. 9

9 BASIC INFO The Basic Info Screen will allow the user to update: Bind Date (Effective Date) Home Type (Policy Form) Name Entry *Construction Type Year Built/Year Purchased Square Footage Optional Replacement Cost Construction Characteristics Mailing Address Previous Property Address (if purchased/occupied in last 2 years) Protective Device Answer *Unique Questions *Note: Subtle screen differences may exist based on the State you are quoting. 10

10 BASIC INFO Name Entry The address will populate. Note at this point the address cannot be changed. A link to a Google satellite view map is available at the top of the screen. We strongly recommend that you review the map to get a good overview of the risk and see if there are any obvious hazards that would make it ineligible. Enter the Named Insured information. Note: this should always be the titled owner on the deed of the property. 11

11 BASIC INFO Construction Type A Drop down select Menu will allow you to Select the Construction Type Construction Type Options vary by State: Masonry, Brick, or Stone Frame Masonry Veneer over Frame Stucco Asbestos Clad (not eligible) Superior Construction Masonry Frame Single Wall Frame Double Wall 12

12 BASIC INFO Year Built/Year Purchased or Occupied Square Footage Optional Replacement Cost Enter: Year Built Year Insured Purchased Property Livable Square Footage (excluding Basement) Replacement Cost entry is optional Note: The Year Built and Livable Square Footage will be confirmed against public records, and if the value are different they will be over-written. You can increase the Square Footage but any other value must be changed by Stillwater Underwriting. The Quote will not allow a Replacement Cost lower than the system calculated Minimum Replacement cost. 13

13 BASIC INFO Construction Characteristics (HO3/HO5) The Number of garage stalls, Fireplaces, and the Number of stories are selected via a numerical drop down select Menu. The Type of garage and Type of roof are selected via a drop down listing. 14

14 BASIC INFO Descriptions Link The Descriptions link provides detailed descriptions of various construction characteristics. Selecting the correct descriptions will help calculate an accurate replacement cost valuation. 15

15 BASIC INFO Construction Characteristics (HO3/HO5) A response of Yes will require additional basement information. Select the desired % options via the drop down select list: 16

16 BASIC INFO Mailing Address A response of Yes to the Mailing address question will prompt for entry of the Mailing Address. 17

17 BASIC INFO Previous Address If the Property was purchased or occupied in the last 2 years a Previous Property Address Field is required. Note: The Previous address information entered should be an address the insured has resided at for a minimum of 2 years. If a newer address is entered this may result in a No Hit on the NCF (National Credit File) Report that is run in all States Except California. 18

18 BASIC INFO Protective Device Based on the above responses the quote may be eligible for a Protective Device Credit. The amount of the credit varies by State. The application of a central station fire and burglar alarm will require proof of alarm system which can be ed to ins@stillwaterinsurance.com The HO5 policy form requires a smoke alarm, dead bolt and fire extinguisher. A response of NO on the HO5 Will return the following Edit: 19

19 BASIC INFO Optional Construction Characteristics The following questions are optional. A response to either will provide a more in depth minimum Replacement Cost Calculation. Click on the description link for detailed descriptions of Bath and Kitchen Building Grades 20

20 BASIC INFO Unique Questions Some States have additional Basic Info questions. Here are some examples of these questions: When the Basic Information screen is completed hit the Next tab at the bottom of the screen 21

21 BASIC INFO Report Ordering After hitting Next the following Message will appear regarding Credit report (NCF) ordering. Hit OK to continue. After hitting OK the following message will appear on the screen while the Credit (NCF) request is being processed. The NCF report is only run on the First Named Insured. The following States DO NOT run NCF Reports: CA, HI, MA, MD and TX (SPC - 21) 22

22 NCF Reports Bankruptcy The following states do not use bankruptcy as an underwriting consideration: AZ, FL, CA, CT, HI, MA, MD, MO, NC, NH, & VT. The following question is asked during the quote process. This question applies to the Named Insured and Additional Named Insured. Has the applicant filed for bankruptcy in the last 10 years? [If "Yes", risk is Prohibited] A Yes response will return an edit that will disqualify the risk. In addition, information obtained from the NCF report may generate an Inconsistent Response edit that may be the result of a prior Bankruptcy or Foreclosure. If you receive an edit Underwriting will need to review the report before you will be able to proceed with the quote. Please fax or the Quote Number requesting Inconsistent Response NCF review Fax: (866) underwriting@stillwaterinsurance.com Underwriting will respond back to advise. 23

23 BASIC INFO Report Ordering No Hit If we are unable to obtain a credit hit an edit will appear. There will also be a link at the top of the screen advising that the quote is unable to continue due to an invalid NCF Report. If you receive this edit, please contact customer service at

24 Public Records Verification / Over-ride ENHANCEMENT TO THE FIRST QUOTE PROCESS: Where available, key data from a public records database will now be verified and pre-filled on HO3, HO5, HO6 & Dwelling Fire quotes in all states. In the majority of quotes the property data will be pulled from a public records database, and so where it can be pulled we will: Verify the year built. Verify the year the insured purchased the property. If the data is not pre-filled, please enter it manually. The square footage may also be returned. If the square footage entered on the Basic Information tab is greater than what is returned, the square footage will remain as what was entered (not applicable for HO6). If the square footage is less than what the user entered, the square footage will be updated to what was returned. The user may increase the square footage to greater than what was returned. For any changes to what the user entered, an alert will appear on the Preliminary Rate tab showing that property data has been updated from a public records database as shown in the example below: 25

25 PRELIMINARY RATE When the NCF is ordered successfully the quote will proceed to the Preliminary Rate screen. This provides a quote snapshot which includes the following: Zip Code Year Built Square footage Year Acquired Replacement Cost Calculation There is also a site link to MSB (Marshall & Swift/Boeckh) which can be used to provide a more in depth replacement cost valuation on HO3/HO5 quotes. The link should only be used if a more in depth valuation is desired. The Preliminary Rate screen also provides quotes based on various deductibles, with and without the Home/Auto Discount. There is also a Mail Proposal option and a View Details option. 26

26 PRELIMINARY RATE MSB (Marshall & Swift/Boeckh) The replacement cost can be calculated in greater detail by clicking on the Click Here link. This link will route the user to an external MSB site where a more in depth Replacement Cost can be calculated by adjusting various construction characteristics. We strongly recommend that you review the Home Details with the applicant to ensure that the home is correctly valued. These changes can be saved and then used to re-calculate the Replacement Cost Value on FIRST. When you click on the Click Here link the following edit will appear Click OK to continue: 27

27 PRELIMINARY RATE MSB (Marshall & Swift/Boeckh) Clicking on the Link will direct the user to the MSB site The options in the left hand column under the heading General Information can be used to update the Replacement Cost Reports/Calc The following characteristics cannot be changed: Construction Year, Construction Type, # of Stories, # of Fireplaces, # of Families, and Roof Type Use these options to update the RPC Update the desired Construction Characteristics After updating is completed click on Reports/Calculate 28

28 PRELIMINARY RATE MSB (Marshall & Swift/Boeckh) Clicking Reports/Calculate will adjust the Replacement Valuation. The new RPC value is listed as Reconstruction Cost w/ Debris Removal. $132,071 in the example. Save the value by clicking on A Close Valuation pop up will appear. Click on Close Valuation to complete the process. 29

29 PRELIMINARY RATE MSB (Marshall & Swift/Boeckh) Closing the Valuation will close out the MSB Site and direct the quote back to the Preliminary Rate Screen Two new options will appear at the bottom of the screen: Reset to MSB defaults and Rate with custom MSB values. Select Rate with custom MSB values to save the changes made on MSB. Reset to MSB defaults will cancel the changes made on MSB. 30

30 PRELIMINARY RATE MSB (Marshall & Swift/Boeckh) Selecting Rate with custom MSB values will save the changes made on MSB and adjust the Replacement Cost of the Home. The Replacement cost of the home is now: $140,000 Hit Next if you wish to proceed using the amended MSB calculated RPC. Reset to MSB defaults will adjust the RPC back to the original Value. Note: FIRST will never calculate an RPC lower than $100 per square foot, even if the MSB amount calculates at a lower figure. 31

31 PRELIMINARY RATE Mail Proposal - View Quote - View Details To continue without printing or mailing hit Next To view a Preliminary Quote Click on the Deductible link of choice to open the document To request mailing of a Preliminary Quote, Click the checkbox of choice under the Mail Proposal column. Click on View Details for a quick snapshot of the Coverage Details. View Quote 32

32 Agent info TEST PRELIMINARY RATE Mail Proposal View Quote This is an example of the Preliminary Quote Proposal. 33

33 HOME DETAIL QUESTIONS The Home Detail Question screen will list several property specific questions. The amount and type of questions will vary by Policy Form and by State. All questions will require a response to proceed. Hit Next when completed. Questions are acceptance related. Some answers may result in an edit. If an edit appears review the question answers for accuracy. The edit will provide information advising why the risk does not qualify. Note: All properties will be inspected. So answer all the questions as accurately as possible. 34

34 FINAL RATE The Final Rate Screen provides rates based on various deductible options. To proceed populate the desired rate/deductible Select Rate bullet and hit Next. Click on View Details for a quick snapshot of the Coverage Details. 35

35 COVERAGES The Coverages Screen provides options to: Quote Information Select Coverages. Add Scheduled Personal Property Rate the Quote Note: Subtle screen differences in coverage options may vary based on the State you are quoting. 36

36 COVERAGES Quote Information The Coverage Screen provides a quick snap shot of Quote Information including: City, State/Zip Territory Responding Fire Department Construction Year Policy Discounts/Surcharges Policy Type Policy Form Residence Type Construction Type t 37

37 COVERAGES Select Coverages A drop down Select Menu will be used to choose different coverage options when applicable. Click on the appropriate drop down Select Menu to view the available options: For example the available Deductible options: 38

38 COVERAGES Select Coverages Coverage Option availability will vary by Policy Form and by State Use Drop Down Select Menus to select the Coverage The coverages that are underlined contain help text that can be accessed by clicking on that Coverage name link. 39

39 COVERAGES Scheduled Personal Property The option to quote and add SPP is available based on Underwriting Guidelines. If available a Scheduled Personal Property Tab will appear at the bottom of the Coverage Screen. Clicking on the Link will pull up the SPP page. Review the Underwriting Guidelines on the page for acceptance and availability rules. To proceed select the Item Class from the Drop Down Select Menu 40

40 COVERAGES Rate the Quote Changes to Coverages will require the quote to be Re- Rated to Save the changes. After changing Coverages click on the Rate the Quote tab. This will save the changes and re-calculate the Quote Premium. If the Next tab is hit before Rating the quote an edit will appear. If an edit appears Click OK to return to the Coverage Page and click Rate the Quote. Hit Next to proceed 41

41 ADDITIONAL INTERESTS Upon completion of the Coverages screen you will be directed to the Additional Interests screen. To add an Additional Interest Click on the Add Additional Interest Tab 42

42 ADDITIONAL INTERESTS A list of commonly used Mortgagee s is available by clicking on the Drop Down Select Menu. Search the list and highlight the Mortgagee address that matches and hit Next. If the Mortgagee is not in the list click on the Not In List tab. 43

43 ADDITIONAL INTEREST Not in List Select the State the Mortgagee address is located in via the drop down list. Click Next. Select the City via the drop down list. Select the letter the Mortgagee Name begins with. Click Next. Select the matching Mortgagee from the drop down list. Click Next. 44

44 ADDITIONAL INTERESTS After selecting the matching Mortgagee enter the Loan Number if applicable and hit Next. An edit will appear. Click OK to proceed. 45

45 ADDITIONAL INTERESTS Screen Options This Additional Interest screen provides the following options: Add another Mortgagee using the Add Additional Interest tab. Change the sequence or position of Mortgagee entries via the New Seq. Number option. Set a Renewal Bill To Mortgagee option. Delete existing Mortgagee entry. Note: All changes to the screen will require the screen to be updated by clicking on the Update List tab. The Clear Selection option will un-highlight or clear any highlighted options. 46

46 ADDITIONAL INTERESTS Renewal Bill To - Update List To set the policy up to Bill the Mortgagee at renewal highlight the Renewal Bill To bullet as shown above. After highlighting the bullet click on the Update List tab to save the change. Once clicked the following edit will appear: Click OK to proceed. 47

47 ADDITIONAL INTERESTS Change Mortgagee Sequence- Update List To change the sequence or position of the Mortgagee enter the desired position in the New Seq. Number field as shown above. After choosing the desired sequence click on the Update List tab to save the change. The screen will refresh and the Sequence will change: 48

48 ADDITIONAL INTERESTS Delete Mortgagee Highlight the Delete box for the desired Mortgagee Click NEXT 49

49 PAYMENTS Upon completion of the Additional Interest screen the quote will navigate to the PAYMENTS screen. The FIRST Home Quote offers a variety of Payment options: Payments can be made via: Agency Trust Account Client Bank Account Credit or Debit Card We Accept all Major Credit Cards: American Express Discover Master Card Visa Diners Club Home Payment Option Chart Note: Installment payment options may be subject to billing fees. These fees vary by State and by Policy Type. Policy Type Issue Now/Pay Now Installment Options Issue Now To be paid at closing Issue Upon Receipt of Payment/Billing Options HO3, HO6, HO5, Monthly EFT Full Payment 100% 40/30/30 25/25/25/25 Purchase or Refinance with premium to be paid at closing. We will mail an Invoice to Mortgage Company We will mail an Invoice to the Insured HO4 Monthly EFT Full Payment 100% 50/50 40/30/30 25/25/25/25 N/A N/A Note: The installment options listed may vary by State. This payment option is intended for New Purchase and Loan Refinance. Upon submission the agent should print a Dec page and billing invoice to present at closing. Selecting the Begin Billing Cycle (Invoice Bill) Option will not allow you to submit the policy. The policy will remain in quote status until we post payment. This option should only be used with a future effective date. 50

50 PAYMENTS Issue Policy Now options Insured to pay Issue policy now: If the applicant intends to make a down payment select: 1. Select Insured or Agency to pay partial or full premium now option. 2. Select the desired *Payment Description. *Note - the installment options will vary by State 3. Select the desired Down Payment method

51 PAYMENTS Issue Policy Now options to be paid at closing Issue policy now: If the Home is a new purchase or refinance that will be paid at closing: 1. Select the Purchase or Refinance with premium to be paid at closing option. 2. If you wish to include the name and address of the Mortgagee or Title Company on the invoice select YES 3. Enter the Zip Code of Mortgage or Title Company handling the closing. 4. Select the Closing Company (this is the name and address that will appear on the invoice). 5. If needed select or add the name of the Closing Officer. See next slide for Important Policy Submission bill invoice instructions 52

52 FIRST Home DEC To be paid at closing billing Invoice If the policy is submitted without a down payment a copy of the Home Declaration and FIRST Billing invoice should always be provided to the party responsible for payment. Upon submission click on the Home DEC (PDF) to obtain this documentation. Note: Stillwater will not generate a mailed Billing invoice upon submission. It is therefore imperative that a copy of the FIRST Home DEC and bill is provided to the party responsible for payment. If payment is not made Stillwater will generate the documents based on the following time frame: If payment is not received by day 10 of the term or( 10 days after the new business was processed which is applicable to back date submission only), a billing for the remaining unpaid premium (plus any applicable policy fee) is issued due in 15 days. If payment is not received by the due date, the policy will cancel. 53

53 PAYMENTS Invoice Bill to be paid later option We also offer a Billing Invoice payment option. This option should only be selected when coverage from an existing carrier is currently in force. The quote will remain in quote status until payment posts. Upon receipt of payment the quote will bind. The Billing invoice can be sent to the mortgage company or to the insured, based on who is making the payment. The desired effective date should always be a future date to allow time for the invoice to mail, and to allow time for payment to be sent. The payment must be sent or post marked on or before the requested effective date. Payments sent or post marked after the desired effective date will result in an adjustment to the effective date. Highlight the option based on who is responsible for making the down payment. Note the future effective date requirements. This date should always match the desired effective date. If it does not it will result in an edit that will automatically adjust the effective date to match. See next slide for Unique Begin Billing Cycle instructions

54 POLICY APPLICATION / COMPLETED Begin Billing Cycle When the Billing Invoice payment option is selected the Submit and Issue Policy tab is replaced with a Begin Billing Cycle tab. When this payment method is selected the quote will remain in quote status until payment posts. Clicking on Begin Billing Cycle will generate the billing invoice to the party responsible for payment as previously selected in the Payments section of the quote. Note: The policy number is still a quote number. Coverage is not bound until payment posts. 55

55 POLICY APPLICATION Upon completion of the payments screen the quote will proceed to the Policy Application screen. The Policy Application screen will allow the user to: Review-Update the Effective Date Add an Additional Named Insured Add an optional mailing address See next slide for information on required Forms Acknowledgment. Which is required prior to policy submission. 56

56 POLICY APPLICATION Forms Acknowledgement The Forms Acknowledgment box must be checked to confirm the applicant s acceptance and agreement with the stated terms and conditions of the policy. 57

57 POLICY APPLICATION Order CLUE Report Optional notes can be added here When the Forms Acknowledgment box is checked and any optional notes are added click on Submit and Issue Policy. Click on OK to run the CLUE report. When ordered a CLUE Property Loss Report link will appear on the top and bottom of the Policy Application screen. The CLUE report must be viewed to continue Click on the link to view the report: 58

58 POLICY APPLICATION CLUE Report The CLUE report must be viewed prior to policy submission. CLUE reports may pull information that may require additional underwriting review/approval prior to policy submission. If you receive an edit please call customer service at for CLUE report review. 59

59 POLICY APPLICATION Submit and Issue Policy When the CLUE report is ordered and viewed click on Submit and Issue Policy. The following edit will appear. Click OK to complete the submission process. 60

60 COMPLETED Upon Policy Submission the Quote Number will be assigned a policy number. The Completed screen also provides PDF links to: ACCORD Application/Underwriting Confirmation Home DEC Policy Submission Confirmation (Payment confirmation) 61

61 Thank You for your support of the Stillwater Insurance Group. 62