New Business Quoting

Overview

The New Business Quoting workflow in Momentum AMS guides you through creating a prospect, gathering information, reviewing carrier eligibility, preparing proposals, and binding coverage. This ensures accuracy, compliance, and a professional client experience.

Option 1: Create Prospect Manually

Step 1: Create a Prospect

Before quoting, you must have a Prospect Record in Momentum AMS.

Where in AMS: top of Left menu →  ➕ → Prospect/Leads

1. Fill Out Prospect Intake Form

   • Insured/Business Name: Enter the full legal name.

   • Contact Details: Address, phone, email.

   • Business/Industry Type: Select the classification from the dropdown (critical for carrier appetite).

   • Identifiers: FEIN (business), DOB (personal), website, etc.

2. Save Prospect

   • Click Save Prospect to generate the record.

   • You’ll be redirected to the Prospect Details Page.

3. Upload Supporting Documents

   • From the Prospect Details Page, open the Documents tab.

   • Upload dec pages, loss runs, driver lists, property schedules.

   • Use clear filenames like LossRuns_2022-2024.pdf.

4. Add Context in Notes

   • Navigate to the Notes tab.

   • Example entry: “Prospect created for BOP + Auto quote. Awaiting updated loss runs.”

   • Apply tags like New Business or Prospect Intake for tracking.

✅ The Prospect is now ready to have an Opportunity created.

Step 2: Add an Opportunity & Quote

Where in AMS: Prospect’s Details Page → Opportunities tab → Add New

From the Opportunity Edit page, complete fields in order (Line of Business, Needed By, Stage, Type, etc.).
You can upload related files and documents to the Opportunity as needed.
At the bottom, you may link an existing policy or quote, but you cannot create one here.

Option 2: QuoteLinq Intake

Momentum also offers an automated smart intake option called QuoteLinq, available in Momentum AMP and Momentum CL Rating.

1. Access QuoteLinq: Open Momentum AMP or Momentum CL Rating.

2. Send Smart Form: Choose the correct QuoteLinq form (Personal Lines, Commercial Lines, etc.) and email the link to the prospect (or embed it on your website).

3. Prospect Completes Form: The client enters business/personal details, exposures, driver lists, property schedules, and can upload files directly.

4. Automatic AMS Creation: Once submitted, a Prospect Record is created in Momentum AMS with all provided details.

5. Review & Verify: Open the Prospect in AMS, check the Documents tab, and add clarifying Notes.

6. Add Opportunity & Quote: Continue as in Option 1 from the Opportunities tab.

ℹ️ For more details, see Simplify Your Prospecting with QuoteLinq in Momentum AMS.

Step 3: Determine Policy Eligibility

1. Review Carrier Underwriting Guidelines: Use carrier portals or AMS-stored appetite guides.

2. Evaluate Customer Profile: Location, years in business, claims history, credit factors, property details.

3. Identify Required Docs: Proof of updates, inspection reports, membership verifications.

4. Request & Upload: Contact client for missing documents, upload to Documents, and note in Notes.

Step 4: Research Insurance Carriers

1. View Carrier List: In AMS, check available carriers for the chosen Line of Business.

2. Compare Appetite & Guidelines: Review minimum premiums, eligible classes, and restrictions.

3. Match Client Profile: Eliminate carriers that clearly won’t accept the risk.

4. Prepare Submissions: Gather supplemental apps and upload into Documents.

5. Document Strategy: Leave a Note summarizing which carriers are being quoted and why.

Step 5: Create Insurance Policy Proposal

1. Gather Final Quotes: Retrieve quotes from carrier portals or rating systems.

2. Build Proposal Document: Use your agency’s template (Word, PDF, or Smart Form) including:

   • Named insured

   • Policy dates

   • Premiums by coverage part

   • Optional endorsements

   • Carrier logos/info (if approved)

3. Write a Clear Summary: Include cover notes highlighting differences and recommendations.

4. Upload Proposal: Save to the Documents tab of the Opportunity.

5. Log Communication: Note which proposal was presented and initial client feedback.

Step 6: Present & Bind Coverage

1. Prepare for the Meeting: Review proposal, summarize premiums, limits, deductibles, exclusions.

2. Meet with Client: Walk them through proposals, answer questions, handle objections.

3. Confirm Selection: Record client’s decision on carrier, coverages, effective date, and billing type.

4. Update Opportunity:

   • Change stage to Closed Won.

   • Click Add Policy to start policy record.

   • Upload signed docs to Documents.

   • Add a Note: “Policy bound with Carrier A, effective 7/1/2025, via agency bill PIF.”

✅ Coverage is now bound, the Prospect is converted into an active Insured, and the policy is ready for service, billing, and renewal management.