Unlocking biBERK Quoting Success with London Underwriters
Welcome to the world of London Underwriters, where precision and insight are key to navigating the complex landscape of insurance. In this ever-evolving industry, staying ahead of the game is not just a preference; it's a necessity. One powerful tool that has been gaining prominence is biBERK, a platform designed to streamline the quoting process. In this blog post, our CEO, Daniel Feigenbaum will delve into the art of mastering biBERK quotes, offering five essential tips to ensure success:
1. Strategic Navigation: Click with Precision
When initiating the quoting process, the first crucial step is where you click to commence the quote. Always opt for the pencil icon to mitigate the risk of declined quotes or any other issues affecting your clients' risks. This seemingly small detail can make a significant difference in the seamless flow of the quoting process. Remember, precision at this stage sets the foundation for a successful quote.
2. In-Depth Product Knowledge: The Cornerstone of Success
To wield biBERK effectively, it's imperative to cultivate a profound understanding of the intricacies of policy coverage, exclusions, and risk factors. Take advantage of the wealth of knowledge available in biBERK Classes to bolster your expertise. This foundational knowledge will empower you to navigate the platform with confidence and accuracy, ensuring your quotes align with the specific needs of your clients.
3. Quote Status: Stay Informed
After completing the quoting process, it's vital to stay informed about the status of your quote. Depending on the risk, your quote may fall into categories such as "quoted" (ready to be issued), "referred," or "uw" (underwriting - with a 72-hour release period for review). Be mindful that any quote ready to be issued is only valid for 10 days, after which it will be removed. However, you retain the ability to re-quote it within that time frame. This proactive approach ensures that you stay on top of your quotes, preventing any lapses and maintaining the integrity of your client interactions.
4. Managing the Quote: Tabs and Options
Upon clicking on the quote, you'll encounter various tabs. On the billing tab, you can pay the quote or update credit card information. The conversations tab allows you to initiate a dialogue with the assigned underwriter for follow-ups or endorsements. The underwriting tab facilitates the continuation of the purchase path for your client's quote. Additionally, on the top right, you can add another line of business such as WC, GL, XS, or BOP. Mastering these options enhances your ability to manage quotes efficiently.
5. Explore Additional Coverages for Efficiency
During the quoting process with biBERK, explore additional coverages to enhance the line of business you are quoting. For instance, when quoting a Business Owners Policy, discover additional coverages like Business Income and Extra Expense, Damage to Premises Rented to You, Employee Dishonesty, Preservation of Property, and more. This exploration adds depth to your quotes, offering comprehensive coverage tailored to your clients' unique needs.
Mastering biBERK quotes is a journey of precision, knowledge, and strategic application. Follow these essential tips to unlock the full potential of biBERK, ensuring your quotes stand out in the competitive landscape of insurance underwriting.