Online Quote-Bind System for Insurer

Request for Proposal (RFP) Project Title: Development of Online Quote and Bind Functionality for MHIA Insurance 1. Introduction MHIA Insurance is seeking proposals from qualified developers or development agencies to build an online quote and bind platform. The solution must integrate seamlessly with our existing bespoke insurance system, enabling customers to obtain home and contents insurance quotes, verify eligibility through underwriting guidelines, and bind policies with payment options. 2. Project Goals and Objectives • Develop a user-friendly platform for online quoting and policy binding. • Ensure integration with our SQL database and CRM system via API. • Provide customers with secure payment options (annual and monthly instalments - already have api connected to gateway for annual payment) • Deliver a solution that complies with Australian data security and privacy regulations. 3. Scope of Work The project includes: 3.1 Core Features • Online quote form with all relevant customer and property data fields. • Integration with a pricing algorithm to calculate premiums in real time. • Underwriting guidelines evaluation: • Approve eligible customers for policy binding. • Notify ineligible customers that their quote requires further review. 3.2 Policy Binding • Allow customers to choose annual or monthly payments. • Annual Payments: Integration with a secure payment gateway for one-off payments. • Monthly Payments: Securely capture BSB, account name, and account number for direct debits. 3.3 API Integration • Create customer and quote records in the CRM. • Retrieve pricing data and underwriting outcomes from the SQL database. • Update policy details in the CRM upon binding. 3.4 Notifications • Display real-time messages for approval or further review. • Alert MHIA staff when manual review is required. 3.5 Compliance and Security • Encrypt all sensitive data (e.g., payment details, personal information). • Comply with PCI DSS and Privacy Act 1988 (Australia). 4. Deliverables 1. Functional online quoting and binding system. 2. API documentation detailing endpoints and data flows. 3. Testing plan covering accuracy, security, and system performance. 4. Security audit report demonstrating compliance with regulations. 5. Deployment and post-launch support plan. 5. Timeline [Insert Timeline, e.g.: Proposal deadline, project start date, milestone deadlines, launch date, etc.] 6. Budget [Provide an estimated budget range or ask vendors to propose pricing.] 7. Evaluation Criteria Proposals will be evaluated based on: • Technical expertise and relevant experience. • Understanding of the project requirements. • Proposed timeline and deliverables. • Cost-effectiveness and value for money. • Post-launch support and maintenance plan.