The Actual Distinction for MGAs and Wholesalers

This text is a part of a sponsored collection by Knowledgeable Insured.

Should you’re an MGA or wholesaler quoting private or business strains, chances are high you’ve come throughout PL Ranking by Vertafore. It’s a extensively used platform within the retail company world. However once you’re managing delegated authority, service packages, or inside underwriting ops, you want one thing extra highly effective.

This weblog breaks down the actual distinction between RQB and PL Ranking-so you’ll be able to select the proper device to your quoting workflows.

What Is PL Ranking?

PL Ranking is a private strains comparative rater designed for retail brokers. It permits customers to enter applicant information as soon as and obtain real-time quotes from a number of carriers.

It’s a stable match for:

• Auto, House, and Umbrella quoting
• Direct agent-to-consumer workflows
• Unbiased businesses on the lookout for quick charge comparisons

Nevertheless it’s not constructed for:

• Business strains
• Delegated quoting workflows
• Service program routing
• Underwriting guidelines enforcement

What Is RQB?

RQB (Price Quote Bind) is a multi-carrier quoting engine constructed particularly for MGAs, wholesalers, and delegated authority use instances. It helps private and business strains, applies customized guidelines, and integrates immediately with carriers, underwriters, and downstream programs like Knowledgeable Insured.

Key options embrace:

• Submission triage and consumption automation
• Program-based service routing
• Service API integrations
• Inner and agent-facing portals
• Full quote-to-bind workflows

Comparability Desk: RQB vs PL Ranking

Why MGAs and Wholesalers Select RQB Over PL Ranking

PL Ranking is helpful when you’re a retail agent quoting private strains. But when it is advisable:

• Deal with service packages
• Route and triage submissions
• Management quoting authority
• Combine with an AMS like Knowledgeable Insured …then PL Ranking merely isn’t sufficient.

RQB offers you the infrastructure to centralize quoting, implement guidelines, and bind sooner.

Actual-World Check Case: PL Ranking vs RQB

A quick-growing MGA initially used PL Ranking for Owners quoting. Nonetheless, they bumped into the next points:

• Couldn’t management quoting guidelines for subagents
• No assist for business property
• Needed to rekey quote information into their AMS
• Binding nonetheless required guide service steps

They switched to RQB and carried out:

• Direct submission consumption from subagents
• Automated routing based mostly on service urge for food
• Actual-time quoting + binding for House, Condominium, and Small Business
• One-click export into Knowledgeable Insured for invoicing and coverage issuance

Consequence:

• 60% sooner quote-to-bind cycle
• 3x extra quotes issued per underwriter
• Zero rekeying
• Improved E&O compliance

FAQs: RQB vs PL Ranking

Can RQB quote private strains like PL Ranking?
Sure. RQB helps Owners, Auto, Umbrella, and extra—however provides service guidelines and binding options that PL Ranking lacks.

Is RQB just for inside customers?
No. RQB provides portals for each inside underwriters and exterior brokers with role-based entry management.

Can I preserve utilizing PL Ranking for some strains and use RQB for others?
Sure, however most MGAs ultimately transition absolutely to RQB resulting from higher management and effectivity.

Does RQB assist multi-carrier business quoting?
Completely. RQB is constructed to deal with a number of packages throughout Normal Legal responsibility, BOP, WC, and Property.

Is RQB built-in with our AMS or CRM?
Sure. RQB connects with AMS platforms like Knowledgeable Insured and might push information downstream to CRMs, invoicing programs, and doc storage.

Conclusion

PL Ranking works for fundamental private strains quoting on the retail level-but it’s not designed for the complexity of MGA or wholesaler operations. RQB provides triage, ranking, guidelines enforcement, and binding-all in a single unified quoting engine.

Should you’re able to scale packages, enhance underwriter productiveness, and take away quoting bottlenecks, RQB is the next move.

Nonetheless caught utilizing PL Ranking for MGA quoting?
Request a Demo of RQB and see the distinction purpose-built quoting makes.

Subjects
Insurance coverage Wholesale