Quandri Knowledge Hub
Requoting Triggers
What are requoting policy triggers?
Configurable requoting triggers allow you to tailor workflows to your agency’s priorities and adapt quickly to changing market conditions. By setting up requoting triggers, you can strategically focus your remarketing efforts on policies most likely to benefit your business, such as improving retention and maximizing cross-selling opportunities.
Available Policy Triggers
-
Premium increase – Customers that get highest increases are most likely to shop - impacting retention
You have the option to select either a percentage (%) OR dollar amount ($) increase for when a requote occurs.
How to configure Policy Triggers
To configure policy triggers, you can follow these steps:
Step 1 – Go to ‘Requoting’ in the left-hand navigation
Step 2 – Select ‘Policy Triggers’
Step 3 – Select the tiggers you want for requoting
Step 4 – Under each trigger, define the trigger parameters.
Step 5 – Once you are satisfied with your requoting triggers, hit ‘Save’.
FAQ
Can I use multiple triggers at the same time?
Yes, you can apply multiple triggers. They work with OR logic, such that if any one of these items is met, the policy will be requoted.
How do I decide which triggers to use?
Start with your business objectives. For example, if retention is your primary goal, begin with premium increase and time with a specific carrier.
How often should I revisit triggers?
Any time there are significant changes in the market or to carrier relationships, it is worth reviewing your agency's triggers to ensure you continue targeting the right thresholds for remarketing efforts. We recommend completing an annual review at a minimum.
Need more help?
Reach out to Quandri Support with your query if you can't find what you are looking for in our Knowledge Hub.