Convert quotes to policies

Trigger: A prospect or agent formally accepts a valid insurance quote and requests to bind coverage.

1. Receive binding request and signed application
2. Verify quote validity and confirm no material changes to risk
3. Process initial premium payment or establish billing schedule
4. Generate policy contract and declarations page
5. Transmit policy documents to the insured and agent
6. Activate policy record in the core administration system

Outcome: Coverage is legally bound, the policy is recorded in the administration system, and documents are delivered to the policyholder.