This publish is a part of a sequence sponsored by AgentSync.
Are your producers uninterested in coming 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 “properly, too unhealthy, they need to in the event that they need 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 purposes 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 business, standardizing (for essentially the most half) the knowledge a producer must hold available to fill out the paperwork.
Sadly, in lots of instances, every time a producer desires to use for a license in a brand new state, they nonetheless need to fill out the appliance 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 purposes
One of many myriad challenges of producer insurance coverage purposes 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, “In case you have ever been convicted of against the law…” vs. “In case you have you been charged with against the law…” vs. “Within the final 10 years, when you’ve got you been convicted of against the law…” vs. “For those who’ve by no means been charged with against the law…”
As a result of so many states have these nonuniform questions, you possibly can’t even depend on the regular gruntwork of copy/paste to get you thru. You need to verify that you simply flagged all of the variations and answered them appropriately in line with no matter taste of the query is on that specific state’s app. And in case your producer occurs to have a legal background, determining which states require what for reporting is its personal wrestle.
The results of guide software fills
Functions are much less horrible than they was once, however the state of issues nonetheless means numerous repetitive knowledge entry for nonresident license purposes, and variations in a producer’s solutions might end result within the sort of inconsistencies that set off yellow flags in state opinions. Yellow flags aren’t pink flags – these inconsistencies don’t essentially imply your producer’s software shall be rejected. However they may decelerate the state’s approval course of as somebody checks solutions in opposition to the info 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 are able to take the ache out of your producer licensing:
No. 1: Flattened purposes
If you wish to finish the chase for solutions, AgentSync’s onboarding portal has flattened all state purposes right into a single supply. As an alternative of sending a producer a stack of purposes to fill out for the record 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 probably at all times have their very own flavors and variations within the type of nonuniform questions for the producer software. Many variations, nonetheless, are nonetheless stuffed with double-work and confusion. Think about questions similar to “Are you a citizen?” “Are you a noncitizen?” or “Are you not a citizen?” Answering these questions and attempting to maintain your reply per the altering phrasing in order to not reply dishonestly or confuse your self could be troublesome 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 doable in order to attenuate 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 usually happen when their preliminary license software, nonresident software, and renewal purposes 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 reminiscences of previous solutions or precise phrasing. It’s the distinction between filling out an entire new sequence of questions and paperwork vs. strolling in and having somebody ask, “has something modified?”
No. 4: System presents inquiries to brokers primarily based on resident license, agent kind, and line of authority
States are totally different – it’s form of a complete factor in insurance coverage. With AgentSync, your producers get served the particular questions that matter to them primarily based on their resident state license, their agent kind, and their line of authority. Do they want a selected surplus strains 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 need 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 purposes 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 slender 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 possibly can restrict the scope of their onboarding or license software inquiries to solely these states (or strains of authority) that matter, additional decreasing the effort and frustration in your producer companions.
Shifting from paper to digital to your subsequent degree
Simply since you’ve transitioned off of paper purposes doesn’t imply the effort of paperwork in your producers has ended. With out a system that actively cuts down on the work and frustration in your producers (and your inner compliance and ops groups!), you’ve simply moved from analog to digital, with few advantages.
Onboarding and producer license purposes are incessantly a possibility for dropped enterprise and misplaced producers, even after a protracted and hard-won recruitment course of. With AgentSync, producer onboarding and license purposes can turn into a possibility for your enterprise to WOW producers and assist them get the licenses they want.
Remodeling your onboarding and license purposes is only the start.
Handle can be serving to AgentSync purchasers get full visibility into their distribution channels and optimize their profitability with:
- Dashboards that present high-level overviews and detailed reviews you possibly can type by state or gross sales territories
- Bulk transactions that can help you apply licenses, appointments, or terminations in bulk to right-size your distribution channels in a given area
- Simply-in-Time workflows that enable 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 priceless and de-siloing very important knowledge for background checks, commissions, and extra
See what else Handle can do to make you use at your subsequent degree. Schedule a demo with our group at the moment, and get began in your future state.
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