How is a Risk Panel created and how are Panellists invited to quote?
Creating a Risk Panel involves selecting the active Risk which is ready to be sent to underwriters and searching for underwriters whose underwriting criteria (defined in their Business Profiles) match the characteristics of the Risk. Three categories are listed: • Risk Matched Underwriters – underwriters who are on the Panel and match the risk parameters. They can now be invited to receive an invitation to quote for the Risk with a single click (which they can accept or decline). Upon invitation, an alert is sent to the underwriter and the underwriter is marked as ‘pending’. Should he accept, he is added to the Risk Panel and may submit his quote at any time up to the Quote Deadline. • Risk Matched Non Panellist Underwriters – underwriters who are not yet on the Panel but match the risk parameters are also automatically identified. This category is particularly important as it catches underwriters who are not on the broker’s Panel but who have stated that the particular risk meets thei
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