Rater vs. Real-Time Quoting

[John Inglemyer]

All,

Hope everyone is having a great week -

Some of the AMS vendors are offering real-time quoting as a service and I am confused at the difference between that service and their rater (outside of the ability to provide a consumer-facing service). Is the advantage that you are receiving a quote from the carrier's site vs. the rater's logic and if so, are you getting pinged for MVR's for each carrier that returns a quote?

Probably a stupid question, but thankful for any insight -

 

[Markthebroker]

All,

Hope everyone is having a great week -

Some of the AMS vendors are offering real-time quoting as a service and I am confused at the difference between that service and their rater (outside of the ability to provide a consumer-facing service). Is the advantage that you are receiving a quote from the carrier's site vs. the rater's logic and if so, are you getting pinged for MVR's for each carrier that returns a quote?

Probably a stupid question, but thankful for any insight -

Not a stupid question. I don't use raters anymore, but my thinking is the advantage of a real time quote is not just that they aren't pinging the MVR, but also that it's a real quote that you can update, print and present, not just what the rater thinks the rate might be.