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Generating Quotes

Quotes are the bridge between parametric insurance design and policy activation. After configuring and activating a coverage, you can generate quotes to return a summary document for a specific sum insured, risk period, client details and coverage with premium details. This guide explains how to create and manage quotes through both the Riskwolf portal and API integration.

Quote Generation Methods

Using the Riskwolf Portal

The Riskwolf platform offers an intuitive interface for creating quotes:

Quote Generation

  1. Select a Program: After clicking New Quote Navigate to the Programs section and select the appropriate program containing your pre-configured coverages
  2. Configure Quote Parameters: Specify Sum insured (maximum payout amount), Risk period (coverage duration), Client details, and Additional custom parameters specific to your coverage
  3. Generate Quote: The system will calculate the premium based on the configured parameters and risk analysis
  4. Review and Share: Once generated, quotes can be shared with clients or exported for further processing

Using the API

For automated and seamless integration with your existing systems, Riskwolf provides comprehensive API endpoints for quote generation and management. The API allows you to:

  • Create quotes programmatically for any configured coverage
  • Monitor quote status through its lifecycle
  • Accept or reject quotes via API calls

Key information required for API integration includes:

  • Coverage ID (from your pre-configured coverage)
  • Sum insured amount and currency
  • Customer ID (for policy holder identification)

For detailed API documentation including request formats, endpoints, parameters, and response structures, please refer to the Quote API Reference.

Quote Management

Once quotes are generated, you can:

  • Accept a Quote: Convert it into an active policy
  • Reject a Quote: Remove it from consideration
  • Download Quote Documents: Access formal documentation for client presentation

After acceptance, the system returns a policy ID that serves as the reference for ongoing monitoring and potential claims processing.