Administrators can create Programs to set default quoting conditions for specific carriers.
Last Updated: September 2020
This article explains how to create Programs within BindHQ.
- Administrators and Compliance can create, edit and delete
- Programs are required when quoting to help facilitate more efficient, accurate binding. Use programs to define parameters like applicable products and states, and add defaults like line items for commission and fees.
Create a New Program
- Navigate to Administration and select the Markets and Carriers tab.
- Below Carriers, select Add and edit programs.
- On the right, click New.
- Fill in the Program Details.
- On the bottom right, click Save.
Fill in these fields when creating a new program:
- Program Name/Code: Enter an easily identifiable name for the program. Codes can be based on your organization’s internal naming/numbering scheme.
- Ensure that program codes help users distinguish between multiple programs in case they are presented with multiple options when quoting. You may want to include an internal reference number, the industry, and the line of business in your codes (for example, 636 - clubgl).
- Program Description: Enter a brief description of the program.
- Marketing Company and Carrier: Select the marketing and insurance companies associated with the program.
- Broad Line of Business: Select the broad line of business (commercial, personal, or farm lines).
- Applicable Products: Select all coverages that apply to the program.
- Eligible States: Select all states eligible for the program.
- Policy Number Block: Select the number block that applies to all policies using the program, if applicable.
- Business Type: Select Binding or Brokerage.
- Billing Type: Select Agency Bill, Direct Bill, or Insured Direct Bill.
- Taxes Collected By: Select In-House, Marketing Company, or Retail Agent.
- Exclusions, Terms, and Requirements: Enter See attached if you are attaching the form schedule, or list out the terms and conditions.
- Subjectivities: Select any default conditions associated with the program.
- Forms: (For Lloyd's policies) Select any forms that should be included on quotes and whether they are optional or mandatory.
- Default Line Items: Add commissions, taxes, fees, or premiums and their values. The values are dollar amounts or percentages depending on the selection. You can set user permissions on each line to be editable, read only, or hidden.
Note: Commissions should always be set to Hidden.
- Rates: Enter the minimum earned premium percentage, if applicable.
- Inactive: Check the checkbox to change the status of the program to inactive.