What Is a Multi-Carrier Quoting Platform? How RQB Powers It End to End
In today’s competitive insurance landscape, MGAs and wholesalers often work with multiple carriers, each with its own submission formats, appetite guidelines, and quoting logic. Manually juggling these systems causes delays, errors, and missed opportunities. That’s why multi-carrier quoting platforms have become mission-critical. This blog explains what they are, why they matter, and how RQB by Selectsys powers seamless, end-to-end quoting for MGAs, wholesalers, and carrier programs.
What Is a Multi-Carrier Quoting Platform?
A multi-carrier quoting platform is software that allows users-typically MGAs or wholesalers-to enter submission data once and receive quotes from multiple carriers. It standardizes input, routes submissions to the appropriate markets, applies underwriting logic, and returns quotes-all within a unified interface.
These platforms eliminate the need to rekey data into separate portals, reduce back-and-forth with underwriters, and increase the likelihood of quoting and binding quickly.
Why MGAs and Wholesalers Need It
Working across carriers is inherently messy. Every market has different:
- Appetite filters
- Forms and requirements
- Underwriting rules
- Rating APIs
- Delegated authority limits
Multi-carrier quoting platforms streamline this complexity and make quoting scalable.
Common use cases include:
- Retail agents entering risk data into a portal and getting instant rate indications
- Internal underwriting teams triaging and quoting submissions using delegated authority
- Carrier program teams applying consistent logic across multiple MGAs
How RQB Powers Multi-Carrier Quoting
RQB (Rate Quote Bind) by Selectsys is purpose-built for delegated quoting. Here’s how it works:
- Centralized Submission Intake
RQB captures submissions via email, upload, API, or direct agent portals. Data is normalized and mapped to carrier-specific requirements. - Automated Routing
Submissions are automatically routed based on risk type, state, class codes, and carrier appetite. - Rating Engine Integration
RQB connects to each carrier’s rating logic via API or embedded rate tables. It applies your delegated limits and returns bindable quotes in real-time. - Rules Enforcement
Custom underwriting rules ensure that the quote complies with both carrier and MGA-specific requirements before issuing. - Bind and Export
Approved quotes can be bound, exported to downstream systems like Expert Insured, and packaged for invoicing and policy issuance.
Real-World Test Case: Triage + Multi-Carrier Quoting
A national wholesaler with 12 carrier programs used RQB to reduce quote turnaround time by 72%. Prior to RQB, underwriters manually checked appetite and emailed carriers. After go-live, RQB:
- Triage-routed 100+ submissions daily
- Returned quotes within 4 minutes on average
- Reduced declines due to misfit submissions
- Bound 3x more risks per underwriter per day
Benefits at a Glance
- One entry = multiple quotes
- Enforced rules reduce E&O risk
- Faster quote-to-bind cycles
- Centralized audit trail
- Fully integrated with Expert Insured
Frequently Asked Questions
How many carriers can RQB support?
There’s no hard limit. RQB can support dozens of carriers with custom logic and API integrations.
Does RQB require rekeying data for each carrier?
No. Data is entered once and mapped to each carrier’s unique format automatically.
Can RQB be used by both underwriters and agents?
Yes. You can have an internal view for underwriters and a simplified self-service portal for agents.
Is RQB customizable for program-specific needs?
Absolutely. Each carrier program can have unique triage rules, rating logic, and output format.
How long does RQB take to implement?
Most clients are up and running within 30 days. Complex carrier builds may require more time.
Conclusion
Multi-carrier quoting isn’t just a convenience-it’s a strategic necessity. RQB brings speed, accuracy, and control to every step of the quoting process. If you’re an MGA or wholesaler managing multiple carrier programs, RQB gives you the infrastructure to quote faster, bind more, and scale without bottlenecks.
Ready to quote smarter across carriers?
Request a Demo of RQB today and see how it works with your lines, carriers, and workflow.
