Many insurance seekers are
now going to multiple carrier consumer portals to investigate coverages and comparison shop for pricing. In many cases either
because of the complexity of the policy requirements or the lack of binding authority by the consumer portal, the inquiry
by the consumer is routed to a local agency who may, using an intermediary that allows for single rating entry (a rating access
vendor, an on-line wholesaler, or the new insurance Exchange), re-submit the policy to all the target carriers for price verification
or go directly to the chosen carrier system. In this instance, the agent will add the final underwriting data into the carrier
policy administration system for binding and issuance.
Upon issuance of the policy,
it can be routed back to the agency for delivery to the client or directly to the client. While there are redundant quoting
steps in this workflow, the cost is reduced by the single entry technologies used both by the consumer portal and the agency.
This approach works where the coverage needs are complex enough to require agency assistance.