Quote Engines

With new, digital-first, players entering the market the need to create an amazing online experience has never been higher for Finance and Insurance companies. 

Here are recommendations for building a quote engine that will drive sales and reduce the costs associated with an agent-centred business model 



Customer on-boarding in
Veygo's flexible auto insurance
React Native application




Projects built by our quote engine development team:

  • A website and mobile app allowing drivers to get flexible insurance from one hour to thirty days
  • A web app allowing car buyers to compare their options, and apply for finance entirely online 
  • A website to simplify the renters insurance market
  • Integrations to customer data APIs, such as Equifax, and KYC and AML tools, such as Jumio
  • A backend allowing underwriting teams to understand the implications of pricing changes in real-time 

Creating Effective Quote Engines

Think about the user first

First things first. Who is your audience? 

This feels like obvious advice but truly thinking about the user can radically alter how you present the product.  Have they purchased a product like this before? Is this a familiar quote process? Is this something they do every year or just one time?

The answer to these questions should change how you present  information. For example, if you are an insurer targeting new drivers you may want to:

  • Let them know the information they'll need before they start
  • Cut the jargon and place a greater emphasis on providing clear information
  • Talk in more emotive terms. They probably don't really care about the insurance, they just want the freedom that comes with being insured

Price is important, so show it early

Most customers  are price sensitive and even those who aren't want to have an indication of what a product will cost. 

Customers anticipate that quote engines are going to be long and complicated, making instant reward and quick gratification important.

This can come in many forms, however price is often the best way to keep users going. If they see a price they like earlier, they are going to commit down the funnel.

Veygo LDI


Ask as little as possible

People hate giving out personal information but financial products inevitably require lots.

Your marketers will want to know detailed demographics, your underwriting team will want to collect data to test future pricing, operations want questions to help improve future customer interactions.

All of these feel important, but none of them are important to you customers.

The less intrusive the online experience is, the better the conversion you'll achieve.

Show progress and signpost 

Even if your customer has seen a price they like, they will still get disheartened the more steps the quote process has. Helping them visualize that the end is in sight is key. A simple way to do this is with a progress bar or breadcrumbs

Be more human

Finance isn't renowned as an industry that evokes warm, fuzzy feelings, but that doesn't mean you shouldn't attempt to form a human connection with your audience. 

As financial products become digital the need to humanize the experience grows. 

Being drawn to a human face is literally imprinted in our DNA and used effectively, a well chosen image can help build trust and emotional connection. 

Farmers Insurance

You don't need to have J.K.Simmons front your product to make it feel trustworthy (but it helps)


One company doing an awesome job and implementing all of these principles is Lemonade.

They go even further to make life easy with AI and Chatbot functionality to make getting insurance as painless as possible.


Standard quote engine project architecture

Generic quote engine architecture

(1) Users can get a quote through any web or mobile interface. They request a quote to the quote engine API (2) coded in Python or JavaScript.

The details provided by the customers (personal details along with characteristics of the product they are looking to purchase) are analyzed by the pricing model (3). Depending on these details, different loading factors (4) are applied to a base price. All loading factors and product base prices can be updated in real time by a pricing manager (5).

(6) The personal details provided by customers can also be checked against a real time KYC (Know Your Customer) provider — such as Jumio — to ensure they are who they pretend to be. Other analysis can be run against, for instance, Financial risk assessment services (7) or other third parties (8).