RQB – Rate, Quote, and Bind Automation
RQB is the operational center of the Selectsys Value Flywheel. It combines rating logic, quote generation, and bind-pack automation into one connected workflow. Integrated with AI OCR, Submission Triage, Expert Insured (EI), and BPO Pods, RQB eliminates duplicate entry, cuts cycle time, and drives consistent underwriting execution.
Teams use RQB to go from raw submission to bound policy in minutes, not hours.
What RQB Does
RQB unifies the three steps that define most insurance operations:
- Rate: apply carrier or program rules to risk data received from AI OCR and Submission Triage.
- Quote: generate quotes with dynamic pricing, comparison, and producer-facing quote sheets.
- Bind: produce complete bind packs, carrier checklists, and logs for EI or policy issuance.
Each stage runs on rule-based logic, giving underwriting and BPO teams one consistent platform to work from.
Integration Across the Flywheel
RQB is not a stand-alone quoting tool. It is the midpoint of the Value Flywheel that connects intake to servicing.
- AI OCR: pre-fills rating inputs from extracted data.
- Submission Triage: ensures only complete, qualified submissions reach RQB.
- EI (Policy Admin and Forms): receives bound data, documents, and audit history.
- BPO Pods: manage quoting queues, reissues, and bind-pack completion with SLA.
- Analytics and PQI: tracks hit ratios, quote times, and exceptions for continuous improvement.
Every quote and bind event is logged with timestamps, underwriter ID, and carrier routing.
Rating Rules and Automation
- State, class, or limit-based rules
- Program-specific or carrier-specific logic
- Deductible, exposure, and premium calculations
- Automatic validation for required fields
- Referral routing when data is incomplete or outside appetite
Rating logic can be managed by internal teams or Selectsys configuration specialists.
Quote Sheet and Bind Pack Generation
Once rated, RQB builds a complete quote sheet using standard templates and your branding.
Quote sheets can include multiple carrier options, renewal comparisons, or alternative terms.
Once accepted, the system automatically compiles the bind pack and carrier checklist for immediate issuance.
All generated documents are archived inside EI with the related submission.
Interlooping with Other Nodes
- ← AI OCR: supplies clean data for rating and quoting.
- ← Submission Triage: filters qualified submissions for RQB.
- → EI (Forms System): sends bind details and attachments for policy creation.
- → BPO Pods: dispatches rework or missing info tasks.
- ← Analytics & PQI: reports quote time, bind success rate, and exception handling metrics.
This flow keeps every team and system in sync.
Key Benefits
- 30 to 50 percent faster quoting and binding cycles
- Consistent pricing logic across carriers and programs
- Fewer manual re-keying errors
- Unified audit trail for every quote and bind decision
- Seamless handoff to issuance, renewal, and service teams
Use Cases
- MGAs quoting multiple carrier programs.
- Carriers automating mid-market package rating.
- Wholesalers comparing market alternatives for agents.
- BPO pods executing bind packs under SLA.
Security and Compliance
RQB operates in SOC 2 Type II certified environments.
Role-based access ensures only authorized users can rate or bind.
All actions are timestamped and linked to individual users.
Full audit data is available for compliance and carrier reporting.
Outcomes
- Cycle time reduced by up to 40 percent
- NIGO and rework reduced by 30 to 50 percent
- Hit ratio improved by 3 to 7 points
- Policy issuance accuracy improved across programs
Start a Pilot
You can test RQB with your own rating logic and carrier programs.
Selectsys can launch a scoped pilot in 7 to 10 business days.
Related Reading
FAQs
What is RQB?
RQB stands for Rate, Quote, and Bind. It automates the quoting and binding process using rule-based logic integrated with AI OCR, Submission Triage, and EI.
How does RQB connect with EI and BPO Pods?
Once bound, RQB pushes data and documents into EI for issuance and sends remaining tasks to BPO Pods for SLA-based completion.
What carriers or programs can it support?
RQB can configure multiple carriers, states, and lines of business with custom rules and templates.
How long does it take to implement?
7 to 10 business days for a pilot using your own rating data and workflows.
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