Quote Exchange powers an online supply chain for insurance products allowing a cost effective, flexible, controlled distribution of your products to customers either directly, via intermediaries and/or price comparison sites.
While many insurer products and schemes are available electronically via Polaris and other rating engines the costs and lead times associated with this means that not all products are available online which can limit sales opportunities. The Quote Exchange platform can host the product rules required to calculate premiums. This allows the products to be part of an intermediaries and / or price comparison site quote process. The speed of implementation and low costs allow this to be used for niche products and for "insurer test and learn" against live market rates. In some cases existing Polaris rating can be used as a base to create "intro" or "mirror"" pricing schemes.
The product rating can be extended using any available enrichment services; this can cover the standard credit rating and other third party enrichment to an insurer specific enrichment using insurer data or data collected by Quote Exchange. For example focusing on existing / target customers or flagging affinity customers.
To complete the supply chain from capacity to customer sale Quote Exchange can offer a range of distribution options. This includes a panel of intermediaries in a telesales environment or directly on price or product comparison sites (possibly completed offline by selected intermediaries or a hybrid solution maximising conversion).