The Actual Distinction for MGAs and Wholesalers

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

In case you’re an MGA or wholesaler quoting private or industrial strains, likelihood is you’ve come throughout PL Ranking by Vertafore. It’s a extensively used platform within the retail company world. However whenever you’re managing delegated authority, provider applications, 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 possibly can select the appropriate device on 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 strong match for:

• Auto, Residence, and Umbrella quoting
• Direct agent-to-consumer workflows
• Unbiased businesses in search of quick charge comparisons

However it’s not constructed for:

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

What Is RQB?

RQB (Charge Quote Bind) is a multi-carrier quoting engine constructed particularly for MGAs, wholesalers, and delegated authority use instances. It helps private and industrial 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 provider routing
• Service API integrations
• Inside 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 beneficial should you’re a retail agent quoting private strains. But when you’ll want to:

• Deal with provider applications
• 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 quicker.

Actual-World Check Case: PL Ranking vs RQB

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

• Couldn’t management quoting guidelines for subagents
• No help for industrial property
• Needed to rekey quote information into their AMS
• Binding nonetheless required handbook provider steps

They switched to RQB and carried out:

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

End result:

• 60% quicker 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 Householders, Auto, Umbrella, and extra—however provides provider 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 finally transition absolutely to RQB because of higher management and effectivity.

Does RQB help multi-carrier industrial quoting?
Completely. RQB is constructed to deal with a number of applications throughout Basic 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.

In case you’re able to scale applications, increase underwriter productiveness, and take away quoting bottlenecks, RQB is the next step.

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

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