{"id":17025,"date":"2023-11-09T16:41:35","date_gmt":"2023-11-09T13:41:35","guid":{"rendered":"https:\/\/insly.com\/?p=17025"},"modified":"2024-10-31T16:46:27","modified_gmt":"2024-10-31T13:46:27","slug":"the-art-of-crafting-an-effective-insurance-proposal-tips-and-templates","status":"publish","type":"post","link":"https:\/\/insly.com\/en\/blog\/the-art-of-crafting-an-effective-insurance-proposal-tips-and-templates\/","title":{"rendered":"The art of crafting an effective insurance proposal: Tips and templates"},"content":{"rendered":"<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div><p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Preparing an insurance proposal is a critical step in the broker sales process. By capturing client risk details and presenting cover options and recommendations, a well-written proposal ensures that clients understand all the details of an insurance product and enables them to make an informed decision before the policy is bound. It also helps to demonstrate the broker\u2019s knowledge, expertise, and professionalism, while building trust with the customer.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">While the exact details contained in an insurance proposal vary depending on the type of insurance (property, personal accident, motor, etc.), and the customer needs, every proposal should follow roughly the same structure and design. This ensures clarity for the customer streamlines proposal generation and workflow,\u00a0 ensures compliance with industry regulations, and consistency of branding and visual style.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Yet, for many brokers, preparing insurance proposals can be unnecessarily time-consuming, from the moment of application to producing the document itself. Many brokers must manually collect data,\u00a0 rekey information to request quotes in insurer templates, and then recreate the same proposal documents from scratch every time, meaning a lack of consistency. Others are working with templates that are difficult to use or outdated and don\u2019t look as professional as they could, therefore impacting sales.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The latest technology, such as Insly\u2019s <\/span><a href=\"https:\/\/info.insly.com\/broker-proposal-software\"><span style=\"font-weight: 400;\">BrokerFlow<\/span><\/a><span style=\"font-weight: 400;\">, has revolutionised the process of requesting quotes and preparing insurance proposals, meaning that it is now possible to customise proposal forms and automate the creation of insurance proposals. This greatly minimises the workload for brokers, while ensuring documents are as professional and consistent as possible.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2 style=\"text-align: justify;\"><b>What does an insurance proposal include?<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Every proposal should contain roughly the following sections:\u00a0\u00a0<\/span><\/p>\n<ol>\n<li><span style=\"font-weight: 400;\"><b>A brief introduction:<\/b> An overview of the provider, what the customer has requested, and how the proposal is responding to their request.<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><b>Schedule: <\/b>An outline, usually in table form, of the key areas of coverage, the value insured and the excess, where applicable.<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><b>Description of the proposed coverage: <\/b>Further detail on the areas of coverage, situations and items covered by the policy.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><b>Exclusions:<\/b> A clear description of what isn\u2019t covered by the policy.\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><b>Terms and conditions: <\/b>All the company\u2019s legal information \u2013 the small print.<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><b>Premium costs: <\/b>How much will the customer have to pay and what are the payment options, e.g. one-off cost vs. monthly?<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><b>Additional coverage: <\/b>Information on add-ons that can be purchased. This provides an opportunity to upsell and cross-sell complementary policies.\u00a0\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><b>The offer expiration date: <\/b>When is the insurance offer valid until, after which date, the customer would need to complete a new request?\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><b>Commission percentage: <\/b>In some countries, brokers must also disclose their commission percentage to their clients as part of the proposal document.\u00a0<\/span><\/li>\n<\/ol>\n<ol style=\"text-align: justify;\">\n<li style=\"list-style-type: none;\">\u00a0<\/li>\n<\/ol>\n<h2 style=\"text-align: justify;\"><b>Insurance proposal template\u00a0<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Gone are the days when brokers had to write every proposal from scratch. Now, there are templates to work from, which mean that you don\u2019t need to reinvent the wheel every time. If you\u2019re looking for some inspiration of how to implement, update or overhaul your broker proposal templates, the following examples should provide some inspiration:\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/betterproposals.io\/proposal-templates\/insurance-proposal-template\"><span style=\"font-weight: 400;\">https:\/\/betterproposals.io\/proposal-templates\/insurance-proposal-template<\/span><\/a><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.proposify.com\/proposal-templates\/insurance-proposal-template\"><span style=\"font-weight: 400;\">https:\/\/www.proposify.com\/proposal-templates\/insurance-proposal-template<\/span><\/a><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.pandadoc.com\/insurance-proposal-template\/\"><span style=\"font-weight: 400;\">https:\/\/www.pandadoc.com\/insurance-proposal-template\/<\/span><\/a><\/p>\n<p>&nbsp;<\/p>\n<h2 style=\"text-align: justify;\"><b>How do I automate preparing an insurance proposal?<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Templates are a great place to start, but to go a step further, the whole insurance proposal process can now be automated, to minimize the amount of broker input required, improving consistency and reducing the chance of errors. Broker proposal software, such as Brokerflow, covers three key steps:\u00a0<\/span><\/p>\n<ol style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Application:<\/b><span style=\"font-weight: 400;\"> The customer completes an application form (request for quote), which is either sent to the customer or hosted on the broker website. Information can also be extracted from third-party data sources to ease form filling, e.g., official company register, or car registration database.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Request for proposal (RfP):<\/b><span style=\"font-weight: 400;\"> From the completed application form, brokers can automatically generate a risk survey or insurance request form in the template that insurers require, streamlining the quote tendering process among insurance companies.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Building a proposal:<\/b><span style=\"font-weight: 400;\"> With conditions received from insurers, broker proposal software will then build a clear, aggregated and branded pdf proposal, incorporating all the insurer&#8217;s conditions and cover information required. This can then be shared with customers, by instant emailing this document together with an online link where they can preview the proposal online and accept, or request any adjustments.<\/span><\/li>\n<\/ol>\n<p style=\"text-align: justify;\">\n<img fetchpriority=\"high\" decoding=\"async\" width=\"2052\" height=\"1147\" class=\"aligncenter size-full wp-image-17048\" src=\"https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_create_new_application_9_products.png\" alt=\"Selecting a product for the new application\" srcset=\"https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_create_new_application_9_products.png 2052w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_create_new_application_9_products-250x140.png 250w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_create_new_application_9_products-700x391.png 700w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_create_new_application_9_products-768x429.png 768w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_create_new_application_9_products-1536x859.png 1536w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_create_new_application_9_products-2048x1145.png 2048w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_create_new_application_9_products-120x67.png 120w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_create_new_application_9_products-1920x1073.png 1920w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_create_new_application_9_products-175x98.png 175w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_create_new_application_9_products-660x369.png 660w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_create_new_application_9_products-286x160.png 286w\" sizes=\"(max-width: 2052px) 100vw, 2052px\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The broker selects the type of insurance that the customer wants to purchase.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><img decoding=\"async\" width=\"1951\" height=\"881\" class=\"aligncenter size-full wp-image-17049\" src=\"https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_builders_risk_application_form.png\" alt=\"Risk application form\" srcset=\"https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_builders_risk_application_form.png 1951w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_builders_risk_application_form-250x113.png 250w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_builders_risk_application_form-700x316.png 700w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_builders_risk_application_form-768x347.png 768w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_builders_risk_application_form-1536x694.png 1536w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_builders_risk_application_form-120x54.png 120w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_builders_risk_application_form-1920x867.png 1920w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_builders_risk_application_form-217x98.png 217w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_builders_risk_application_form-660x298.png 660w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_builders_risk_application_form-318x144.png 318w\" sizes=\"(max-width: 1951px) 100vw, 1951px\" \/><br \/>\n<span style=\"font-weight: 400;\">This screen enables the brokers to input the customer\u2019s details directly into the system, which automatically populates Request for Proposal (RFP) documents for relevant insurers.\u00a0<\/span><img decoding=\"async\" width=\"1682\" height=\"1133\" class=\"aligncenter size-full wp-image-17050\" src=\"https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_online_builders_risk_offer.png\" alt=\"online risk offer\" srcset=\"https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_online_builders_risk_offer.png 1682w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_online_builders_risk_offer-250x168.png 250w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_online_builders_risk_offer-700x472.png 700w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_online_builders_risk_offer-768x517.png 768w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_online_builders_risk_offer-1536x1035.png 1536w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_online_builders_risk_offer-120x81.png 120w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_online_builders_risk_offer-1603x1080.png 1603w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_online_builders_risk_offer-145x98.png 145w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_online_builders_risk_offer-660x445.png 660w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_online_builders_risk_offer-238x160.png 238w\" sizes=\"(max-width: 1682px) 100vw, 1682px\" \/><img loading=\"lazy\" decoding=\"async\" width=\"1730\" height=\"703\" class=\"aligncenter size-full wp-image-17052\" src=\"https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_builders_risk_application_price_options.png\" alt=\"price options\" srcset=\"https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_builders_risk_application_price_options.png 1730w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_builders_risk_application_price_options-250x102.png 250w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_builders_risk_application_price_options-700x284.png 700w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_builders_risk_application_price_options-768x312.png 768w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_builders_risk_application_price_options-1536x624.png 1536w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_builders_risk_application_price_options-120x49.png 120w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_builders_risk_application_price_options-241x98.png 241w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_builders_risk_application_price_options-660x268.png 660w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_builders_risk_application_price_options-318x129.png 318w\" sizes=\"(max-width: 1730px) 100vw, 1730px\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">When insurers respond, the broker is prompted to choose the quote that best suits the needs of the customer.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"986\" height=\"1053\" class=\"aligncenter size-full wp-image-17053\" src=\"https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_proposal_document_pdf.png\" alt=\"insurance proposal document\" srcset=\"https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_proposal_document_pdf.png 986w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_proposal_document_pdf-250x267.png 250w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_proposal_document_pdf-700x748.png 700w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_proposal_document_pdf-768x820.png 768w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_proposal_document_pdf-120x128.png 120w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_proposal_document_pdf-92x98.png 92w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_proposal_document_pdf-660x705.png 660w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_proposal_document_pdf-150x160.png 150w\" sizes=\"(max-width: 986px) 100vw, 986px\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The system automatically generates a branded proposal document, which can be automatically emailed to the customer for review.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><img loading=\"lazy\" decoding=\"async\" width=\"1117\" height=\"780\" class=\"aligncenter size-full wp-image-17054\" src=\"https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_internal_email_send_popup.png\" alt=\"email send popup\" srcset=\"https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_internal_email_send_popup.png 1117w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_internal_email_send_popup-250x175.png 250w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_internal_email_send_popup-700x489.png 700w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_internal_email_send_popup-768x536.png 768w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_internal_email_send_popup-120x84.png 120w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_internal_email_send_popup-140x98.png 140w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_internal_email_send_popup-660x461.png 660w, https:\/\/insly.com\/wp-content\/uploads\/2023\/11\/bf_internal_email_send_popup-229x160.png 229w\" sizes=\"(max-width: 1117px) 100vw, 1117px\" \/><\/p>\n<h2 style=\"text-align: justify;\"><b>Seamless implementation\u00a0<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Integrating broker proposal software into how you work has never been easier, thanks to Insly\u2019s low code setup, which avoids the need for hands-on IT development. The platform integrates seamlessly with brokers\u2019 other systems through in-built APIs, for seamless data transfer. Plus, as it is built specifically for brokers, it fits with their exact needs and workflows with minimal adjustments. So, you can focus on winning customers and growing your business.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">To find out more about BrokerFlow or to arrange a demonstration, get in touch.<\/span><\/p>\n<p style=\"text-align: center;\"><strong><span data-ccp-props=\"{}\"><span style=\"color: #333333;\"><span style=\"color: #000000;\"><a class=\"btn light-green-border medium radius animated animation-delay-1 book-a-demo, popmake-10953\" href=\"https:\/\/info.insly.com\/broker-proposal-software#form\">Get in touch<\/a><\/span><\/span><\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Preparing an insurance proposal is a critical step in the broker sales process. By capturing client risk details and presenting cover options and recommendations, a well-written proposal ensures that clients understand all the details of an insurance product and enables them to make an informed decision before the policy is bound. It also helps to [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":17063,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[39],"tags":[342,22,69,352],"class_list":["post-17025","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insurance-innovation","tag-brokerflow","tag-innovation","tag-insurance-broker-software","tag-insurance-proposal"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The art of crafting an effective insurance proposal | Insly<\/title>\n<meta name=\"description\" content=\"Insurance proposals are critical to the broker sales process. 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