{"id":1577,"date":"2025-10-30T10:07:52","date_gmt":"2025-10-30T10:07:52","guid":{"rendered":"https:\/\/www.selectsys.com\/blog\/?p=1577"},"modified":"2025-11-12T14:19:26","modified_gmt":"2025-11-12T14:19:26","slug":"rqb-rate-quote-bind-automation","status":"publish","type":"post","link":"https:\/\/www.selectsys.com\/blog\/rqb-rate-quote-bind-automation","title":{"rendered":"RQB &#8211; Rate, Quote, and Bind Automation"},"content":{"rendered":"\n<p>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.<\/p>\n\n\n\n<p>Teams use RQB to go from raw submission to bound policy in minutes, not hours.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What RQB Does<\/h2>\n\n\n\n<p>RQB unifies the three steps that define most insurance operations:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Rate<\/strong>: apply carrier or program rules to risk data received from AI OCR and Submission Triage.<\/li>\n\n\n\n<li><strong>Quote<\/strong>: generate quotes with dynamic pricing, comparison, and producer-facing quote sheets.<\/li>\n\n\n\n<li><strong>Bind<\/strong>: produce complete bind packs, carrier checklists, and logs for EI or policy issuance.<\/li>\n<\/ol>\n\n\n\n<p>Each stage runs on rule-based logic, giving underwriting and BPO teams one consistent platform to work from.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Integration Across the Flywheel<\/h2>\n\n\n\n<p>RQB is not a stand-alone quoting tool. It is the midpoint of the Value Flywheel that connects intake to servicing.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>AI OCR<\/strong>: pre-fills rating inputs from extracted data.<\/li>\n\n\n\n<li><strong>Submission Triage<\/strong>: ensures only complete, qualified submissions reach RQB.<\/li>\n\n\n\n<li><strong>EI (Policy Admin and Forms)<\/strong>: receives bound data, documents, and audit history.<\/li>\n\n\n\n<li><strong>BPO Pods<\/strong>: manage quoting queues, reissues, and bind-pack completion with SLA.<\/li>\n\n\n\n<li><strong>Analytics and PQI<\/strong>: tracks hit ratios, quote times, and exceptions for continuous improvement.<\/li>\n<\/ul>\n\n\n\n<p>Every quote and bind event is logged with timestamps, underwriter ID, and carrier routing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Rating Rules and Automation<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>State, class, or limit-based rules<\/li>\n\n\n\n<li>Program-specific or carrier-specific logic<\/li>\n\n\n\n<li>Deductible, exposure, and premium calculations<\/li>\n\n\n\n<li>Automatic validation for required fields<\/li>\n\n\n\n<li>Referral routing when data is incomplete or outside appetite<\/li>\n<\/ul>\n\n\n\n<p>Rating logic can be managed by internal teams or Selectsys configuration specialists.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Quote Sheet and Bind Pack Generation<\/h2>\n\n\n\n<p>Once rated, RQB builds a complete quote sheet using standard templates and your branding.<\/p>\n\n\n\n<p>Quote sheets can include multiple carrier options, renewal comparisons, or alternative terms.<\/p>\n\n\n\n<p>Once accepted, the system automatically compiles the bind pack and carrier checklist for immediate issuance.<\/p>\n\n\n\n<p>All generated documents are archived inside EI with the related submission.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Interlooping with Other Nodes<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong><a href=\"https:\/\/www.selectsys.com\/blog\/ai-ocr-for-insurance-operations\">AI OCR<\/a>:<\/strong> supplies clean data for rating and quoting.<\/li>\n\n\n\n<li><strong><a href=\"https:\/\/www.selectsys.com\/blog\/submission-triage-ai-for-insurance-operations\">Submission Triage<\/a><\/strong>: filters qualified submissions for RQB.<\/li>\n\n\n\n<li><strong><a href=\"https:\/\/www.selectsys.com\/platform\/expert-insured\">EI (Forms System)<\/a><\/strong>: sends bind details and attachments for policy creation.<\/li>\n\n\n\n<li><strong><a href=\"https:\/\/www.selectsys.com\/insurance-bpo\">BPO Pods<\/a><\/strong>: dispatches rework or missing info tasks.<\/li>\n\n\n\n<li><strong><a href=\"https:\/\/www.selectsys.com\/blog\/analytics-and-pqi-operations\">Analytics &amp; PQI<\/a><\/strong>: reports quote time, bind success rate, and exception handling metrics.<\/li>\n<\/ul>\n\n\n\n<p>This flow keeps every team and system in sync. Learn more about <a href=\"https:\/\/www.selectsys.com\/platform\/value-flywheel\">Value Flywheel<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Key Benefits<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>30 to 50 percent faster quoting and binding cycles<\/li>\n\n\n\n<li>Consistent pricing logic across carriers and programs<\/li>\n\n\n\n<li>Fewer manual re-keying errors<\/li>\n\n\n\n<li>Unified audit trail for every quote and bind decision<\/li>\n\n\n\n<li>Seamless handoff to issuance, renewal, and service teams<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Use Cases<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.selectsys.com\/case-studies\/automated-broker-intake\">MGAs quoting multiple carrier programs.<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.selectsys.com\/case-studies\/quote-prep-speed-ai\">Carriers automating mid-market package rating.<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.selectsys.com\/case-studies\/audit-routing-automation\">Wholesalers comparing market alternatives for agents.<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.selectsys.com\/case-studies\/ai-task-routing-bpo\">BPO pods executing bind packs under SLA.<\/a><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Security and Compliance<\/h2>\n\n\n\n<p>RQB operates in SOC 2 Type II certified environments.<br>Role-based access ensures only authorized users can rate or bind.<br>All actions are timestamped and linked to individual users.<br>Full audit data is available for compliance and carrier reporting.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Outcomes<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Cycle time reduced by up to 40 percent<\/li>\n\n\n\n<li>ICS and rework reduced by 30 to 50 percent<\/li>\n\n\n\n<li>Hit ratio improved by 3 to 7 points<\/li>\n\n\n\n<li>Policy issuance accuracy improved across programs<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><a href=\"https:\/\/www.selectsys.com\/contact\">Start a Pilot<\/a><\/h2>\n\n\n\n<p>You can test RQB with your own rating logic and carrier programs.<br>Selectsys can launch a scoped pilot in 7 to 10 business days.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">FAQs<\/h2>\n\n\n\n<p><strong>What is RQB?<br><\/strong>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.<\/p>\n\n\n\n<p><strong>How does RQB connect with EI and BPO Pods?<br><\/strong>Once bound, RQB pushes data and documents into EI for issuance and sends remaining tasks to BPO Pods for SLA-based completion.<\/p>\n\n\n\n<p><strong>What carriers or programs can it support?<br><\/strong>RQB can configure multiple carriers, states, and lines of business with custom rules and templates.<\/p>\n\n\n\n<p><strong>How long does it take to implement?<br><\/strong>7 to 10 business days for a pilot using your own rating data and workflows.<\/p>\n\n\n\n<p><strong>Previous:<\/strong> <a href=\"https:\/\/www.selectsys.com\/blog\/ai-assist-underwriting-assistant\">AI Assist for Underwriting and Quoting<\/a><\/p>\n\n\n\n<p><strong>Next:<\/strong> <a href=\"https:\/\/www.selectsys.com\/blog\/expert-insured-policy-admin-and-forms-system\">Expert Insured &#8211; Policy Administration and Forms System<\/a><\/p>\n\n\n\n<script type=\"application\/ld+json\">\n{\n \"@context\": \"https:\/\/schema.org\",\n \"@type\": \"FAQPage\",\n \"mainEntity\": [\n  {\n   \"@type\": \"Question\",\n   \"name\": \"What is RQB?\",\n   \"acceptedAnswer\": {\"@type\": \"Answer\", \"text\": \"RQB stands for Rate, Quote, and Bind. 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It combines&#8230;<\/p>\n","protected":false},"author":1,"featured_media":1619,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"class_list":["post-1577","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rqb"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>RQB | Rate Quote Bind Automation for Insurance | Selectsys<\/title>\n<meta name=\"description\" content=\"Selectsys RQB automates rating, quoting, and binding for MGAs, carriers, and wholesalers. 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