This put up is a part of a collection sponsored by AgentSync.
Are your producers uninterested in getting into (and re-entering) their solutions 5 other ways into slight variations of the Uniform Producer Software each time they apply for a brand new license or renewal?
In case your response is “nicely, too unhealthy, they must in the event that they wish to be compliant,” at AgentSync, our Handle product and customized onboarding processes wish to problem that line of considering.
Let’s pop the hood and see how Handle can simplify life for you and your producers and cease you from submitting irregular functions to state DOIs.
The problem: Uniform Producer Software
State adoption of the Uniform Producer Software for resident or nonresident licenses has been transformative throughout the trade, standardizing (for essentially the most half) the data a producer must hold available to fill out the paperwork.
Sadly, in lots of instances, every time a producer needs to use for a license in a brand new state, they nonetheless must fill out the applying time and again and once more. For a lot of states, the expertise has descended into checkbox hell, a course of many producers have managed to dump onto their employees.
Nonuniform questions on producer insurance coverage functions
One of many myriad challenges of producer insurance coverage functions even with a Uniform Producer Software is that many states have nonuniform questions. Generally these questions are the very same. However generally there’s a slight variation – assume, “When you have ever been convicted of against the law…” vs. “When you have you been charged with against the law…” vs. “Within the final 10 years, in case you have you been convicted of against the law…” vs. “When you’ve by no means been charged with against the law…”
As a result of so many states have these nonuniform questions, you may’t even depend on the regular gruntwork of copy/paste to get you thru. It’s important to verify that you simply flagged all of the variations and answered them appropriately in response to no matter taste of the query is on that exact state’s app. And in case your producer occurs to have a felony background, determining which states require what for reporting is its personal battle.
The implications of guide software fills
Purposes are much less horrible than they was once, however the state of issues nonetheless means a lot of repetitive knowledge entry for nonresident license functions, and variations in a producer’s solutions may outcome within the type of inconsistencies that set off yellow flags in state opinions. Yellow flags aren’t purple flags – these inconsistencies don’t essentially imply your producer’s software will probably be rejected. However they might decelerate the state’s approval course of as somebody checks solutions in opposition to the information in your producer housed at NIPR.
5 methods AgentSync helps
AgentSync’s flagship product, Handle, was constructed out of an effort to make managing producer compliance far simpler, and nowhere is that this effort extra evident than in the way it solves for variations within the Uniform Producer Licensing Software. Following are the highest methods we will take the ache out of your producer licensing:
No. 1: Flattened functions
If you wish to finish the chase for solutions, AgentSync’s onboarding portal has flattened all state functions right into a single supply. As a substitute of sending a producer a stack of functions to fill out for the listing of states of their gross sales area or filling them out on their behalf, our portal collects all solutions in a single streamlined place.
No. 2: Decreasing nonuniform query variations
States will doubtless at all times have their very own flavors and variations within the type of nonuniform questions for the producer software. Many variations, nevertheless, are nonetheless stuffed with double-work and confusion. Think about questions equivalent to “Are you a citizen?” “Are you a noncitizen?” or “Are you not a citizen?” Answering these questions and making an attempt to maintain your reply in step with the altering phrasing in order to not reply dishonestly or confuse your self may be tough once you’ve been filling out paperwork – digitally or in any other case – for an hour.
AgentSync’s producer portal consolidates these sorts of questions when attainable in order to reduce the quantity of deja vu and disparate variations your producers encounter. This in flip will increase the probability that your newly recruited producers will really end the method of onboarding and answering questions.
No. 3: Producer solutions are saved for renewals
Points for producers typically happen when their preliminary license software, nonresident software, and renewal functions are inconsistent. But these inconsistencies are sometimes the results of easy forgetfulness versus a nefarious plot. So what’s a producer to do?
AgentSync saves solutions for producers so, at renewal time, their earlier solutions resurface and so they can change something that’s modified. However they don’t have to understand at recollections of previous solutions or precise phrasing. It’s the distinction between filling out a complete new collection of questions and paperwork vs. strolling in and having somebody ask, “has something modified?”
No. 4: System presents inquiries to brokers based mostly on resident license, agent kind, and line of authority
States are completely different – it’s form of a complete factor in insurance coverage. With AgentSync, your producers get served the particular questions that matter to them based mostly on their resident state license, their agent kind, and their line of authority. Do they want a selected surplus traces license, or will a P&C license suffice? Does their resident life and well being license translate for annuity gross sales within the nonresident state they wish to apply in or will that be a special software?
These variations generally trigger complications for producers who’re left to wonder if they’re answering irrelevant questions or lacking out on questions they should tackle. However by baking state reciprocity guidelines into producer licensing functions and onboarding processes, AgentSync may help you make the expertise cleaner and extra streamlined than ever earlier than.
No. 5: An company/provider can specify the producer’s task to slim or broaden the scope of questions
In case your producers are restricted to a Kansas-Nebraska gross sales territory, it doesn’t make sense to make them reply Florida questions. By assigning producers to a regional territory, you may restrict the scope of their onboarding or license software inquiries to solely these states (or traces of authority) that matter, additional lowering the trouble and frustration in your producer companions.
Transferring from paper to digital to your subsequent stage
Simply since you’ve transitioned off of paper functions doesn’t imply the trouble of paperwork in your producers has ended. With no system that actively cuts down on the work and frustration in your producers (and your inside compliance and ops groups!), you’ve simply moved from analog to digital, with few advantages.
Onboarding and producer license functions are continuously a chance for dropped enterprise and misplaced producers, even after a protracted and hard-won recruitment course of. With AgentSync, producer onboarding and license functions can turn into a chance for your enterprise to WOW producers and assist them get the licenses they want.
Remodeling your onboarding and license functions is only the start.
Handle can also be serving to AgentSync shoppers get full visibility into their distribution channels and optimize their profitability with:
- Dashboards that present high-level overviews and detailed reviews you may kind by state or gross sales territories
- Bulk transactions that mean you can apply licenses, appointments, or terminations in bulk to right-size your distribution channels in a given area
- Simply-in-Time workflows that permit carriers to keep away from paying for appointments for producers who by no means promote their merchandise
- Hierarchy administration that visualizes producer uplines and displays distributor relationships in all of their superb complexity
- Integrations that synchronize correct knowledge with different software program, making your whole workspace extra worthwhile and de-siloing important knowledge for background checks, commissions, and extra
See what else Handle can do to make you use at your subsequent stage. Schedule a demo with our staff immediately, and get began in your future state.
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