QUOTE

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Risk enquiry.png
Name Quotations Overview
Shortcut QUOTE
Area Policy
 

See the NOVUS Walkthrough Guide for further information.


A quotation is a risk record by another name but with certain differences.


Morning Data has modified the set of risk programs to produce a corresponding set of QUOTE programs with appropriate shortcuts:-

QUOTE is equivalent to ERISK

QUOTENEW is equivalent to RISKNEW


Setting up a Quotation

To create a quotation use the QUOTE program followed by create new quotation or use the QUOTENEW program. The next available quotation number is assigned to the new quotation. The quotation details are completed, including each section, in the same way as a risk record is completed but with the following differences:

  1. Although the quotation number must have a year assigned, the year has no structural significance. The quotation number alone uniquely defines the quotation record. The year may be changed the quotation is converted to a policy (using the QUOTEPOL program). Quotations can not be renewed.
  1. The division may be left blank
  2. The line slip and its year, and the binder number and year are left blank
  3. The cl/ins/reins code must be completed. This field is the (re)insured.

QUOTENEW: This program can be used to invoke the SLIP, QUOTED/QUOTER, PROFSCHED and QUOTEPOL programs only. Risk details can be configured for a quotation in exactly the same way as for a risk record.

A quotation can be modified at any time because transactions can never be processed against a quotation.

SLIP: This will accept either a quotation number or a policy number and date. A quotation cannot be created from within the SLIP program – this functionality is in the QUOTENEW program. Multiple slip versions can be produces for a quotation - however, a risk can only have one slip version.

QUOTED: Designed for direct quotations.
Note: For QUOTED a slip is not necessary (direct)

QUOTER: Designed for reinsurance quotations. Multiple quotations can be issued against the same slip version.
Note: For QUOTER a slip is required. (re-insurance)

QPLACE: This program accepts a quotation number. QPLACE cannot promote a pro forma market to a firm order market and will accept input for the order percent.

QUOTEPOL: This program converts a quotation to a policy. A chosen slip version is copied over to the new policy number and assigned slip version 1.

Additional fields for the period, lineslip, binder, and division must be completed. All records for risk_details, risk_notes and any pro forma market are copied over to the new policy number.

History

V4.2.0 – Updated to latest version.

V15M - current version

v14M - Navigation error corrected for next_item in query mode.