A premium quote live on the phone — instead of a callback tomorrow

The broker has grown with commercial clients — machinery, cyber, disability, property, transport — and works with 15–50 insurers in parallel, each with its own rating engine: web portals, Excel rate files, BiPRO interfaces in various versions, legacy Windows programs.

When an adviser had a customer on the phone who “just wanted to know what it would cost,” it took an hour to answer — gather the key data, open three rating engines, enter everything three times, compare, call back. By then the customer was with a competitor.

The same key data had to be typed three times — each engine with different field names: ‘sum insured’ here, ‘SI’ there, ‘limit’ in the English engine; WZ-2008 here, the insurer’s own industry code there.

Reporting on the book was Excel work, and line-of-business experts were tied up with standard requests instead of handling complex special risks.

Piko captures the risk situation once in a structured form (or pulls it from the broker management system). Eligibility is checked automatically across every applicable rate — inapplicable rates aren’t even calculated, with a reason given.

Premiums are calculated in parallel through the respective rating systems. The adviser sees a comparison table with a source reference per calculation: mapping version, entered values, rating-system receipt. The rate mappings are curated and maintainable with no software release.

The broker management system remains the system of record for the book and master data. Advisers assess the proposals before communicating with the customer; their corrections improve the mapping and eligibility rules.

Ninety minutes of research became an answer in around two — live on the phone, while the customer is still on the line.

Time to close, previously 2–4 days and often ending with a competitor, shortens dramatically because the answer comes immediately.

Rate distribution across the book, eligibility error rates per insurer, and average processing time are available as a standard query for the first time.