Placement Details
Managing your renewal within the 'Placement Details' page
Overview
Placements group each client's policies with a common renewal date. Manage the entire marketing process for each client within the Placement Details page.
- McMillan LLC has 10 policies renewing on 4/1. There is one placement to manage the renewal of all 10 policies.
Click through each tab (Strategy, Documents, Marketing, Notes, and Policies) to view different elements of the marketing process.
Carrier Appetite
By clicking on the 'Strategy' tab, users will be able to view a carrier's appetite for the client across various lines of coverage. Appetite levels for specific lines of coverage can range from a Strong to Limited, while other lines require further details and discussion.
For each line of business, the carrier will indicate the following levels of interest:
- Strong = Carrier is ready to engage in this business.
- Risk Specific = Carrier will need to understand this account a little better to determine readiness for engagement.
- Limited = Carrier may not be a market fit for this type of business.
- More Info Needed = Carrier needs more information in order to provide an appetite for this business.
Appetite is based on a client’s NAICS and SIC industry code classification. If a client’s NAICS code of SIC code is unavailable or cannot be determined, this feature won’t be available.
Top Markets
Within the 'Strategy' tab, Top Market Suggestions will display the top 5 carriers with the most active premium matching the account's industry and location across all Highwing broker partners.
Top markets will also be shown in the 'Marketing tab' when you add markets.
Top Market Suggestions will be sent monthly via email to servicing team members on placements expiring within the next 60 - 90 days. See Email and In App Notifications for more details.
Documents
Documents can be added to the 'Documents' tab or directly into a template. Once a template is sent, any submission documents will be shown on that market card. Any documents sent to or from the underwriter throughout the conversation will also be shown on the market card.
Marketing
In the 'Marketing' tab, users are able to add carriers to the placement, create a template submission for carriers, and track the progress of placement from submission to bound.
There are two main areas of functionality in this view: the Submission Template and the Marketing Log.
Submission Templates
The Submission Templates allow users to build a reusable submission that they can use when submitting to multiple markets. More information can be found here.
Market Statuses
Statuses can be updated on each market by any team member. The following statuses are available for every market:
- Not Submitted (automatic) - a carrier market has been added, but a submission has not been sent
- Submitted (automatic) - a submission has been sent to this market
- Received (automatic) - the underwriting system or underwriter inbox has received the submission
- Opened (automatic) - the underwriter has opened the submission email
- Under Review - manually update when discussing the submission with the underwriter
- Indication Provided - manually update if the underwriter provides an indication
- Quoted - manually update if the underwriter provides a quote
- No Response - manually update if the underwriter does not respond or acknowledge the submission
- Quoted - manually update the lines of business that are bound, select LOBs individually and un-selected LOBs will be greyed out
- Declined - manually update if the market is declined as a whole
Marketing Log
The Marketing Log allows users to add markets and keep track of all submissions and progress. Export the marketing log at any time by clicking 'Export Market Log'.
The marketing log will automatically include all markets, lines of business, and market specific notes. If you do not want to include any of those items in the log, uncheck the corresponding boxes. The marketing log will be emailed to you and saved to the Documents tab in Highwing.
Notes
Market Notes
Notes can be added onto each market card specific to each carrier. Multiple notes can be added by team members, and are only visible outside of Highwing if selected in the Marketing Log export.
Policies
Users can view all policies associated with the given client to see the entire program and all expiration dates. Clicking onto each policy will expand to show expiration date, premium, carrier, and status.
Conversations
Once a market is added, a conversation is created with the underwriter. View conversation details by selecting 'Open Conversation'.
Discuss the submission, negotiate quotes, and send attachments by clicking on the underwriter’s name in the side panel.
When you send a submission it will automatically be tracked in the conversation. As long as you and the underwriter continue replying to the same Highwing email thread, it will track in the conversation automatically.
