Overview
The Beacon Quoting Center helps agents create, manage, and track insurance proposals throughout the quoting process. This article answers common questions raised during agency training sessions and provides guidance on proposal management, producer selection, quote visibility, underwriting review, and policy binding.
Frequently Asked Questions
Can I rename different versions of a quote proposal?
Yes. Proposal versions can be assigned custom names so you can easily distinguish between different coverage options, limits, or pricing scenarios.
Example:
- Option A – $1M Limit
- Option B – $2M Limit
- Option C – Enhanced Coverage
Using descriptive names makes it easier to compare quote options and return to specific proposal versions later.
Does my producer information automatically populate on quotes?
No. Currently, agents must select the producer each time a quote is created.
A producer lookup feature is available that allows users to search for and select a producer from their agency's producer list.
How do I select a producer when creating a quote?
When completing a quote:
- Locate the Producer field.
- Use the producer lookup tool.
- Select the appropriate producer from your agency's list.
- Continue with the quote submission process.
How long will a proposal remain active in the system?
Proposals remain active based on the requested policy effective date.
- 10 days after the requested policy effective date, the agent will receive a notification advising that the proposal will be rejected in five days.
- Five days later, the proposal will be automatically rejected and closed if no action has been taken.
This gives agents a total of 15 days after the requested policy effective date before an inactive proposal is closed.
How long do Quick Quotes remain visible on the dashboard?
Quick Quotes will automatically drop off the agent dashboard 15 days after the requested policy effective date.
If you need quote information after it has been removed from the dashboard, contact Beacon Support for assistance.
How long do incomplete or rejected proposals remain on the dashboard?
Incomplete and rejected proposals remain visible for a short period:
- Drop off the dashboard five days after being marked incomplete, or
- Drop off the dashboard five days after being rejected.
What happens when a proposal expires?
When the proposal reaches the end of its active period:
- The agent receives a notification that the proposal will be rejected within five days.
- If no action is taken, the proposal is automatically closed.
- Once rejected, the proposal will remain visible for five additional days before being removed from the dashboard.
What is the difference between a Quick Quote and a Full Quote?
Agents expressed significant interest in the Quick Quote process and proposal management.
In general:
- Quick Quotes are intended to provide a streamlined quoting experience.
- Full Quotes may require additional business and underwriting information.
Product-specific requirements may vary.
Can I manage quote proposals after they are created?
Yes. The Quoting Center allows agents to manage proposals after creation, including:
- Updating proposal versions
- Maintaining multiple quote options
- Renaming proposal versions
- Monitoring quote status
How do I quote a sole proprietor who does not have an FEIN?
For sole proprietors who do not have a Federal Employer Identification Number (FEIN), a Social Security Number (SSN) may be used instead.
Is business information required before a quote can be generated?
Yes. Business information is required as part of the quoting process.
Required information may vary by business type and product.
For sole proprietors without an FEIN, an SSN may be used when applicable.
Does every quote require underwriting review?
Not all submissions require underwriting review. However, some quotes may require additional underwriting evaluation before they can be approved or bound.
Underwriting requirements depend on factors such as:
- Risk characteristics
- Business type
- Requested coverage
- Program eligibility
How long does underwriting approval take?
Underwriting review timelines vary depending on the submission and any additional information that may be required.
Agents should monitor the status of their submissions and respond promptly to requests for information to avoid delays.
When can a quote be bound?
A quote can move forward to binding once:
- Required information has been submitted
- Any underwriting review has been completed
- Necessary approvals have been granted
Binding requirements may vary depending on the policy and risk characteristics.
Are short-term policies available?
Yes. Beacon may consider short-term policies.
However, all short-term policy requests require underwriting approval before coverage can be bound.
Best Practices for Managing Quotes
To help streamline your quoting process:
- Use custom proposal names to identify coverage options quickly.
- Verify producer information before submitting quotes.
- Create multiple proposal versions when providing alternative coverage options.
- Monitor dashboard activity regularly for status changes or underwriting requests.
- Complete business information accurately to help avoid delays.
- Review proposal activity before expiration deadlines.
Need Additional Help?
If you have questions about quoting, proposal management, underwriting review, or policy binding, please contact the Beacon Support Center for assistance.