USER GUIDE. SSP Marketplace. Broker User Guide. Author: Richard Hill. Version: V 1.3.0

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1 USER GUIDE SSP Marketplace Broker User Guide Author: Richard Hill Version: V th January 2015

2 Confidentiality Statement SSP Limited has prepared this document in good faith. Many factors outside SSP Limited s current knowledge or control may affect the recipient s needs and project plans. Errors in the document will be corrected once discovered by SSP Limited. The responsibility lies with the recipient to evaluate the document for applicability. The information in this documentation is proprietary, confidential and an unpublished work and is provided upon recipient s covenant to keep such information confidential. Personal Data supplied in this document may not be used for any purpose other than for which it was supplied. Personal Data may not be transferred to other parties without prior consent of SSP Limited. In no event may this information be supplied to third parties without SSP Limited s prior written consent. The following notice shall be reproduced on any copies permitted to be made: SSP Limited All rights reserved. SSP Limited Head Office: Second Floor G Mill, Dean Clough, Halifax, West Yorkshire, HX3 5AX, United Kingdom Registered in England and Wales No T: +44(0) F: +44(0) W: SSP Limited Page 2 of 26 SSP - Public

3 Contents BROKER USER GUIDE... 1 CONTENTS... 3 INTRODUCTION... 4 NEW BUSINESS... 5 New Business Quote... 5 Find Client... 6 Create a New Quotation... 6 New Quote / Product Selection... 7 Copying from Existing... 8 Risk Data Capture... 8 THE QUOTE DISPLAY Available Quotes Storing the Quote / Risk Editing the Risk Overriding Premium Details GO ON COVER WITH A POLICY Buy 18 SSP MARKETPLACE QUOTE MANAGER Mid Term Adjustments Quoted Mid Term Adjustments Manual MTA Viewing a Stored Risk Renewals SSP Limited Page 3 of 26 SSP - Public

4 Introduction This document is designed to help you to use SSP Marketplace, once the set-up has been completed (please refer to the separate Broker Configuration documents relating to M3 and Pure). This includes obtaining a New Business Quote and how to view, edit and transact that quote. It also looks at how to transact a premium finance plan when binding cover and policy processing. imarket integration provides broadband-enabled brokers with commercial quotation facilities via SSP s Marketplace system. This facilitates the easy administration of small-packaged commercial lines risks, allowing users to gather multiple commercial insurer quotes for each enquiry. Risk and premium data is passed back to SSP Pure Broking s back-office facilities to provide seamless integration with routine accounting and documentation processes. Marketplace is an upgrade to the existing SSP Stargate application and will provide improved functionality over this product. Much of the integration and functionality remains the same, however detail of enhancements or changes are shown throughout this document. Two types of business can be arranged through Marketplace. Auto Rated products will return a quote from the selected insurer panel whereas Manual products allow for the ing and production of a marketing presentation of the risk through to the insurer. A benefit to the latter type of policy is that the risk may become auto-rated in the future. SSP Limited Page 4 of 26 SSP - Public

5 New Business New Business Quote The Client Manager function is used to create new quotations and to manage any previously created quotes / policies. In order to access this function, select the Client Manager icon from the Work Manager Menu options: The Client Manager Function is then displayed which allows you to view existing clients that have Marketplace quotes / policies stored against them. From here the user can: Create a new quotation Manage existing quotations / policies SSP Limited Page 5 of 26 SSP - Public

6 Find Client The first step in the process is to select the relevant back office client that the quotation is for. The standard back office Find Now function is used for the purpose of searching for client records: This function also incorporates a New Client button at the bottom of the screen to allow the user to create a new client record at this point should it be required. Create a New Quotation To create a new quotation select the New Quote button from the bottom left hand side of the Client Manager screen. A Process Navigation screen is then displayed, advising the user that it is launching Marketplace. SSP Limited Page 6 of 26 SSP - Public

7 New Quote / Product Selection The Quote Type, Process, Branch, Renewal Frequency, and Cover From dates Risk Code are all mandatory at this point plus there are other back office data elements such as Source, Description, Business Type, Account Handler and Regarding that can be input on an optional basis. Once the appropriate selections have been made click the Continue button. A New Business Stage 1 navigator is then displayed, detailing the steps that the user goes through before reaching Marketplace: SSP Limited Page 7 of 26 SSP - Public

8 Copying from Existing As part of the Quote Selection the user has the option to copy details from an existing policy (that has been created via the back office) and push the related risk data up to Marketplace. When clicking the select from. button a list of live policies is displayed for the user to Where a policy is selected, the user is then taken to the Marketplace risk screens where any data contained on the existing policy will be defaulted in to the relevant fields. Risk Data Capture Enter the information on the risk data capture pages. SSP Limited Page 8 of 26 SSP - Public

9 Mandatory Fields: Items marked with an asterisks (*) are mandatory. Calendar Widget: Where an appears against a field, a calendar widget will be invoked by clicking on it. This makes selecting a date easier, rather than keying one in. Tip Tools: Hovering over a field with your mouse displays a tip tool with guidance regarding the question you are about to answer. Option Switches: User can select the answer Yes or No. Dynamic Logic: The results of some questions, such as answering Yes to Public Liability, may prompt other questions to appear or become mandatory such as the Limit of Liability. Extra Information: If a field has an against it clicking on this icon will display additional information regarding this question. Sub Routines: Some points of the data entry, such as claims or security for example, may allow for multiple items to be entered. In these cases enter the required details for each item followed by the Save or Add button. SSP Limited Page 9 of 26 SSP - Public

10 The entry will be saved and reported in the table below allowing entry of further occurrences for the same question. The details saved can then either be deleted or edited by selecting the appropriate option at the end of the line. When complete click on Save to store the details or Quote to proceed with a quote against the available panel of insurers. SSP Limited Page 10 of 26 SSP - Public

11 The Quote Display The quote display gives details of each insurer to be contacted for the quotation, the premium and details if quoted, and an option to view the details of the returned quote or the reasons for its failure. If the policy type is a manual policy type there will be no quotes displayed. You will however be able to the insurers of your choice the broker presentation created for such risks by treating them as non-panel insurers as detailed later in this document. Available Quotes The initial sort order will be in insurer name order but selecting the column header for premium will sort by this field if required. You can perform various operations from this page like Cover Compare, View Details, Edit Risk, Select, Buy, etc. If a quote has declined, click on View Details to display the reasons. If a quote has referred, click on View Details to display the reasons. SSP Limited Page 11 of 26 SSP - Public

12 If a quote has failed, click on View Info to display the reason for the failure. If multiple quotes have been returned a Cover Compare button is enabled to be able to produce a quick comparison of the options available. It will be sorted on the premium amount in increasing order. SSP Limited Page 12 of 26 SSP - Public

13 For an accepted quote clicking View Details will display the quote and premium details, endorsements and conditions as supplied by the insurer. You can get back using the Show All Quotes button or proceed to buy with Buy Now. SSP Limited Page 13 of 26 SSP - Public

14 It will also display a Cover Change section which will highlight the differences between the cover requested and that granted by the insurer. An example follows: SSP Limited Page 14 of 26 SSP - Public

15 A list of documents that can be downloaded / Imported into Back Office/ printed is also displayed. SSP Limited Page 15 of 26 SSP - Public

16 Storing the Quote / Risk You can press Return to Back Office button at the bottom-right of the Quote Manager, wherein the newly created quotes will be visible with Select, Edit and Buy options. Editing the Risk From the Available Quotes page, you can click on Edit Risk buttons to open risk screens which will allow any amendments required. This revised risk can then be re-quoted when all changes have been made. Overriding Premium Details Subject to authorisation the Override button may be enabled against a particular product. Selecting this displays an additional screen. SSP Limited Page 16 of 26 SSP - Public

17 There are multiple types of override e.g. Commission Override, Gross Premium Override, Retrieve Negotiated Premium Override, Set Target Premium when Minimum Premium is received from Insurer. It also allows you to send authorisation codes along with the Override Request. However, the quotes that can be overridden depend on insurer / product and authorisation. Select one of the enabled options and enter the new value. In the previous example the only items that could be amended were the commission amount or percentage. Click Recalculate and view the response. To accept the override response, Click Save Quote or Reset to abandon any changes or resend another override request. Show All Quotes will return you to the quotes screen. SSP Limited Page 17 of 26 SSP - Public

18 Go on cover with a policy To go on cover with a policy select the Buy button. Buy If the quote has quoted, a message displays asking you to confirm that you wish to buy this policy. The insurer will then be contacted by Marketplace and subject to any communication difficulties, a policy will be produced. Subject to insurer, product and scheme endorsements, conditions etc. Click Return to Back Office to complete the remainder of the process. The SSP Pure Broking Policy Screen displays. SSP Limited Page 18 of 26 SSP - Public

19 Amend or complete any information required and press OK. Complete the remaining process as you would for normal back office new business policies before being returned to the Quote Manager. Selecting File and Exit will return you to the SSP Pure Broking Task Manager. SSP Limited Page 19 of 26 SSP - Public

20 SSP Marketplace Quote Manager Mid Term Adjustments Policy adjustments need to be created from the Quote Manager and not the Client Manager Policy Record. From the Work Manager locate Marketplace and then Quote Manager. The Quote Manager screen displays with a list of all the personal and corporate clients that have Marketplace policies. If the record you are looking for is not clearly available a search facility is available. Enter the client name or part of it in the search field and then click on the magnifying glass. The matching client records are now displayed. Double click on the client that you wish to make the change for. SSP Limited Page 20 of 26 SSP - Public

21 Double click on the required policy and then click Adjustment. The MTA Options screen displays. Select the reason for the MTA from the drop down list box and, if required, key in a more descriptive reason for it. Click OK to proceed to the risk details. The risk details are displayed with a notification at the top of the screen that you MUST notify the insurer manually of these changes. Make any amendments as required and click Next. SSP Limited Page 21 of 26 SSP - Public

22 Quoted Mid Term Adjustments For a growing group of insurers and products the facility to produce an on line quote at MTA exists. If this is the case for your insurer / product you need do nothing and the rate will be calculated automatically. For an up-to-date list of these insurers please view the SSP Marketplace Product Chart here If allowed by the system click Manual MTA to enter your own premium details as advised by the insurer. SSP Limited Page 22 of 26 SSP - Public

23 Manual MTA For those insurers / products that do not have quotable MTAs, or if clicking Manual MTA for a quotable scheme, an adjustment premium screen appears for any details to be manually entered. Enter the additional or return premium as advised by the insurer and any details of this MTA as appropriate. Click Confirm when all details have been entered. A note will be displayed to confirm that the process has been completed successfully and you should return to the back office to complete the task. Click Return to Back Office and confirm that you do indeed wish to do this. The SSP Pure Broking policy screen redisplays allowing you to confirm the details of the AP / RP on the premium tab. Press OK to move to the next stage. SSP Limited Page 23 of 26 SSP - Public

24 The payment method screen displays to facilitate posting the adjustment premium to the accounts. Edit as required and select OK. Click Close on the navigator to return to the Quote Manager screen. You will notice that the Adjustment option has now moved to being against this latest transaction. Viewing a Stored Risk This can either be done through the Marketplace Quote Manager by double clicking on a risk version line or via the SSP Pure Broking Policy Record using Goto and Risk. Renewals imarket renewals are available via Marketplace subject to corresponding implementation by the insurer themselves. Where a particular insurer does not support renewal via imarket, you should go to the policy in Quotes Manager and select the option of Copy as New Business. This will create a new business policy for the risk. Where the insurer does support imarket renewals, the Marketplace system either receives the renewal invite from the insurer to act as a trigger to initiate the process (Insurer Lead), or the broker manually selects the policy that they wish to renew (Broker Lead). The broker led process will be initiated by an automated pre-renewal selection function. This will select policies each day that are within a certain period from their renewal date based on an option set up in Marketplace configuration. Both insurer and broker lead policies will then appear in Quote Manager with statuses of Renewal Invited and Renewal Available respectively. SSP Limited Page 24 of 26 SSP - Public

25 You will select the required policy from within Quote Manager and then collect additional data from the policyholder (where new mandatory data has been added to the messages since policy inception based on the latest version of message in use between insurer and Marketplace) and then submit a renewal quote request message to the insurer, again based on the latest version of the message. A renewal quote request that has missing mandatory data may not be submitted to the insurer. The insurer receives the renewal quote request message and assesses the risk in order to determine whether to offer renewal terms. The insurer may: Produce premium and terms Decline to offer renewal terms Refer the risk to an underwriter to determine premium and terms Renew on the premium and/or terms already provided in the Renewal Invite In all cases the insurer will respond using the renewal quote response message. On receipt of the insurer s renewal quote response you will present the premium and terms to the policyholder. Having done so, you may: Send an Acceptance Request Contact the insurer to initiate negotiation on the premium/terms. Reject the renewal terms On receipt of an Acceptance Request message the insurer may: Send an acceptance response Request further information from you or take the renewal out of process - both of these are exceptional processes, which will usually only occur when the quote response is no longer valid for some reason Where renewal terms are rejected by the policyholder you should submit a policy status change message, indicating that the risk is to lapse. Auto lapse or renewal actions will be implemented if you have not submitted an Acceptance Request or Policy Status Change message (but have previously submitted a quote request and received a quote response) governed by the relevant settings in the Marketplace Configuration utility. You will have set up whether incomplete renewals are to auto lapse or auto renew based on Yes/No input fields in the configuration. Each of these Yes/No fields will have a corresponding number of days to be entered to indicate the period after the renewal date that the auto action should be taken. It is possible to set a negative number here in case you wish the auto action to take place before the actual renewal date. If the auto renew action is triggered, the Marketplace system will submit an Acceptance Request message on your behalf. The insurer will again reply using an acceptance response. SSP Limited Page 25 of 26 SSP - Public

26 If you then subsequently send a Policy Status Change to the insurer to lapse the record, it will be for the insurer to decide whether this lapse is valid (or whether the policy should be cancelled from the date of receipt of instructions). If the auto lapse action is triggered, the Marketplace system will send a Policy Status Change to the insurer to lapse the record. Marketplace will also return this information to the back office so that the parent policy record is also lapsed. If, on renewal date, you have not yet submitted a renewal quote request Marketplace will NOT send an Acceptance Request message but will lock down the policy on your system so that the only changes that can be made are processing of a renewal quote request or a policy status change message to lapse the policy. The insurer will post the renewal premium to your account but will not send any documentation to you until such time as it receives instructions (in the form of a renewal quote request or policy status change message). Where the insurer is not prepared to offer renewal terms and has indicated this (either in the initial renewal invite message, in the renewal quote response or in an acceptance response message) Marketplace will send a policy status message to the insurer on the renewal date, to lapse the policy SSP Limited Page 26 of 26 SSP - Public