Invite Vendors for a POC – Given the information gathered so far from the RFI, RFP, and requirements documents, your project team can decide which vendors to invite to perform a proof-of-concept demonstration. Your team also decides the content for the POC but it usually involves putting up a key product on the vendor’s system.
To See How Their Solution Performs – The focus is only on this product, taking it all the way from front to back. The vendor demonstrates to your team each step of how to add a product to the system, how to issue a policy, and how commissions for an agent would be defined. Once a policy is issued, it is advanced through to maturity and termination. This is all so your team can get a feel for the policy functions, accounting, agency support, Etc. – all the way through the vendor’s solution