Discuss your projectBrokers get explainable premiums from rating rules tested against your actuary’s cases, and the policy issues with its documents in one flow. Endorsements, renewals, and first notice of loss follow, within the rules your carrier sets.
Illustration of an insurance quote-and-bind platform built by Baybloom: a broker quotes with the program’s rating rules, binds with payment through a provider, and receives the policy documents.
Product and operations leaders at insurtechs, managing general agents, and program administrators building a distribution or claims product on top of carrier capacity. The carrier holds the risk and the regulated obligations of an insurer; the platform we build quotes, binds, issues, and services within the rules the carrier and your compliance advisers set.
The workflow
The steps we see most often in this kind of operation.
Features
Risks outside the authority the carrier grants are referred to underwriters with the full submission, and their decisions and conditions recorded on the quote.
Commission rates by broker and product applied automatically, with statements generated and amounts reconciled against premiums collected.
Every change to rates and rules versioned with an effective date, so any past quote can be reproduced exactly as it was calculated.
Broker submissions captured in structured form, checked for missing information, and prioritized so underwriters work on the strongest risks first.
Customers download documents, update details, request changes, and pay installments online, within the permissions the carrier allows.
New claims sorted by type and complexity, assigned to handlers or third-party administrators, and tracked against the service standards the carrier sets.
Your first release
How the work runs
We start with the people doing the work and the systems around it, then write down the first release: what it includes, what it leaves for later, the integration decisions, and the acceptance criteria. Nothing is built until that scope is agreed.
We build in releases you can review as the work takes shape, using realistic data. Every release carries tests, a security review, and documentation. Integrations are tested against real records, with exceptions visible.
Your team receives the documentation, the runbooks, and the training to run the system, and we stay on for continued engineering when you want it.
Scope and price
Every project is priced from a written scope. These are the factors that move it most.
One product with simple rating is narrower than several lines with many factors, territories, and referrals, each needing actuarial cases for testing.
Carriers differ in what they accept, from APIs to file-based reporting, and each carrier relationship adds data mapping and reconciliation work.
Selling through brokers, direct to customers, or embedded in partner products each adds portals, permissions, commission rules, and document variations.
The number of policy documents, jurisdictions, and disclosures set by the carrier and your compliance advisers shapes templating and testing effort.
Managing general agent
A managing general agent running a specialty program often keeps its rating rules in a spreadsheet, so brokers email for every quote and wait for underwriting to reply. A quote-and-bind platform writes those rules down, tests them against the actuary’s cases, and lets brokers quote and bind within the limits the carrier sets. Policy documents are generated on issue, payment goes through a provider, and the policy record carries the fields the carrier requires. Underwriters spend their time on referrals. Endorsements, renewals, and claims intake are typical next phases.
Questions
What buyers ask before a project like this starts.
No. The carrier holds the risk and its regulated obligations. The platform quotes, binds, issues, and services within the rules the carrier and your compliance advisers set.
Yes. The rules are written down, built, and tested against the cases your actuary provides, so a quote is explainable.
Claims intake, with document collection and a case workflow with stages and deadlines, usually follows in a second release once quote-and-bind is live.
It connects through the carrier’s systems or rating engine where they expose them, for the fields they require. Where they do not, the platform produces the bordereaux and documents the carrier accepts.
New products reuse the platform’s quoting, binding, documents, and payment flows, so the work concentrates on the rating rules, questions, and documents that make the product different. Each product’s rules are tested against the actuary’s cases before brokers can quote it.
In-force policies are imported with their terms, documents, and payment schedules, and reconciled against the carrier’s records before switching. Renewals then run on the platform as each policy comes due, while past policies are loaded for reference so brokers and claims staff see the full history.
Personal data is encrypted, access is limited by role for staff, brokers, and customers, and every view and change is logged. Card data stays with the payment provider, and retention follows the requirements the carrier and your compliance advisers set, documented for their reviews.