With this release, we are excited to announce that Automated Remarketing for Retention Center is now available for all customers with Retention Center! This new feature is a significant advancement to your remarketing workflow in Retention Center by reducing the manual process of fetching quotes for your Personal Home and Auto customers.


To help agencies in this hard market, we are introducing Automated Rating for those accounts that are considered at-risk of leaving your agency due to increased premiums when their renewals are received. This new features simplifies remarketing by showing rates instantly from your other Home and Auto Carriers. The time you would have spent manually preparing the rating application, or waiting on the customer to ask the agent to remarket is no longer needed. EZLynx does the work for you! There is also an Automation Center Auto Quoting action available which can automate the process even further. Let's see how everything works!


TABLE OF CONTENTS


Did you know? - You can click on the images in our articles to make them bigger!

How to setup


To setup this feature, you must be a Retention Center Admin. Hover over the Retention Center icon and choose Settings. If you do not see this icon/option, you are not a Retention Center Admin. Please work with your Agency Admin to setup this feature.


On the Retention Center Settings page, we added a new section called Automated Rating that will allow to configure automated quotes for high-risk accounts in renewal list. If you ever aren't sure what a setting does, you can select the info icon next to the settings for more details.



Application Update Threshold

This new automated rated feature will sync the rating application with the renewal policy information. However, we know that there are times when the renewal policy is not the most up to date information. Therefore, we allow you, the Agency Admin, to set a threshold for the number of days you want the system to recognize for what is sent back into the rater for quotes.


  • If the application data has not been updated in the threshold selected, the Renewal policy details take priority and are synced to the application.


  • If the application data has been updated within the range selected, the Application data takes priority and policy sync does not occur.


The threshold ranges are 30, 60, and 90 days.




QAS Quote Templates

Before you can generate a quote through Retention Center, you must first configure a quoting template for both the Homeowner and Personal Auto lines of business.


You can either pick an existing QAS Template by using the Select Template dropdown or create a new one by select the Create Template option.


 

If you select an existing template from the dropdown and it doesn't correspond with any carrier, an error message will appear, prompting you to edit your selection or choose a different template. 


 


If you select the Create Template option, you'll be taken to the Quoting Automation page to create a template for the respective line of business. A template is supported for Personal Auto and all the individual Homeowner form types that can be rated in the Rater. Check out our How to Setup a QAS Template to learn how to setup a QAS Quote template from scratch. 


Policy Sync Configuration

As mentioned in the Application Update Threshold section, the system will sync the renewal policy to the application. When the policy sync occurs, if the Carrier downloads different information than you have entered and stored into the Details Tab for the customer, the system will update the Applicant Details Tab with what was downloaded from the Carrier. 


We understand that Agents consider the details stored in the Details Tab as their source for contact information (along with important details), therefore we are providing a choice for you to pick from. 


You decide what you want to be updated when the policy sync occurs.


  • Do not sync applicant details (default option) - Choose this if you prefer not to have this information merged or overwritten from the renewal policy.


  • Sync applicant details - Choose this if you prefer to have the renewal policy update the Applicant Details.




Once you have chosen the threshold, setup which QAS Templates you want the system to use and decided on the Policy Sync configuration select the Save button to save your setup. Now you're ready for Automatic Quoting!


How it works


Once you've set up your quote template preferences in Retention Center Settings, you can automatically generate quotes with a simple button click. Hover over the Retention Center icon and choose the Overview option. This will take you to the Retention Center Overview page and you will land on the Renewal List by default.




On the Renewal List look for high risk accounts that have either a Home or Auto policy. Once found, select the expand arrow on the right to display the Details. Here, you will see the new Get Quote button. Just click on it and quotes will be returned for the configured Carriers. Please note that the incumbent Carrier will not be included in the results even if they are configured for Automated Rating.



The quotes that appear will correspond to your choices configured within the selected quoting template. To view your quotes with more information, select View Quotes and the system will redirect you to the Quotes page.



If a template has not been setup on the Settings page, the system will display an alert message informing you of this. You will have the option to be redirected to select an existing template or create a new one.



If there is an error in the application that needs attention, an alert is presented and will redirect you to correct your application to re-submit successfully.



If there are errors originating from the Carrier side, the system will notify you and provide you the option to review these errors. 


Notification, System Log, and Tasks

As soon as you select the Get Quote button and view the results, a notification will be created. The System Log will show all the events associated with the Automated Quoting execution, and a task will be created. 


The system log feature will provide the following details:


  • When an Automated Quote is executed.
  • Changes to the Account Details page, when initiated by Automated Quoting via policy sync.
    • When a change occurs, the system log will display the modified details. The log will show the field name along with the original and new values for each updated field.


This enhancement also works when manual changes are made to the Account Details. 


Automation Center Auto Quote Action


In the Automation Center, you can now create a workflow for when a High-risk Personal Homeowner or Auto policy lands in the Renewal List tab in the Retention Center that will immediately execute the Automated Quoting. 


Before we get started though, it is essential to first configure your QAS Template preferences in the settings. Check out the How to setup section of this article if you have not already. Once this is done, you can proceed with creating the workflow, as detailed below. 


To setup Automation Center workflows, you must be an Automation Center Admin. To check if you have Admin permissions, hover over the Settings icon and look for Automation Center option. If you do not see this option, you do not have Admin permissions. Please work with your Agency Admin to setup this feature. 


If you do see this option, you have Admin permissions and can access the page by following the path below:


Settings > Automation Center > Workflows > Create New Workflow




Once on the Create Workflow page, find the Retention Center section and select the arrow to see the triggers available. The Execute Automated Quote action can only be found under the Applicant Added to the Renewal List trigger, so select that card. This will take you to the Workflow Editor page.



On the Add Filters step, you'll find that we added a new filter for the Total Premium Change value, providing you with more flexibility to focus specifically on what you feel is most important for your remarketing efforts. The new filter allows you to refine based on criteria such as "greater than" or "less than" changes in premium.



On the Add Actions step, you will find the new Execute Automated Quote action. Simply select the action to add it to the workflow. Please note, there is no sequence editing available on this action. That means that this action will happen as soon as a customer is added to the Renewal List in Retention Center.

 

 

When a customer transitions from the Expiration List to the Renewal List in Retention Center this workflow will trigger and the system will trigger the auto-quote action. Just like the manual Get Quote button process, your quotes will be on the Overview page of Retention Center. 

 

 

Keep in your mind that if you don’t have a QAS Template configured or your application is missing data and needs to be corrected, your automation workflow will fail. 




Furthermore, if the workflow trigger is activated for accounts that do not have Home or Personal Auto policies, or if it's triggered for low-risk accounts, the workflow will be skipped and considered invalid.




Why is this important?


  • Efficiency in Renewals: Automated quotes can help make the process of policy renewals faster and more efficient. The system can track renewal dates and calculate the renewal price based on any changes to the risk profile. 


  • Speed up the process: Assist in delivering potential policy details and pricing to customers quickly. This can speed up the process of retaining existing customers as they can see policy renewals and changes instantly. 


  • Speedy Policy Issuance: Once a customer's information and risk profile are determined, an automated quote system can quickly calculate the cost of the policy and issue it. This significantly reduces the time you spend manually calculating premiums and eliminates the chances of mathematical errors.


  • Customization: You can tailor the synchronization process based on their specific needs or preferences. For instance, they may choose to sync all details, sync only certain fields, or prevent certain information from being overwritten.


  • Intuitive User Interface: The updated Settings page UI ensures you enjoy an enhanced experience.


  • Audit Trail: The system log provides a comprehensive audit trail of all changes made to applicant details during the policy sync, enabling you to track and review modifications over time.


We hope you enjoy this new feature and look forward to our future releases! Check out our related articles on the right-side to learn more about how to master EZLynx!