This put up is a part of a collection 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 “effectively, too dangerous, they should in the event that they need to be compliant,” at AgentSync, our Handle product and customized onboarding processes wish to problem that line of pondering.
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 probably the most half) the knowledge a producer must preserve 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 should fill out the applying repeatedly 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 workers.
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 – suppose, “If in case you have ever been convicted of a criminal offense…” vs. “If in case you have you been charged with a criminal offense…” vs. “Within the final 10 years, you probably have you been convicted of a criminal offense…” vs. “Should you’ve by no means been charged with a criminal offense…”
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. It’s important to examine that you just flagged all of the variations and answered them appropriately based on no matter taste of the query is on that individual state’s app. And in case your producer occurs to have a legal background, determining which states require what for reporting is its personal battle.
The results of guide software fills
Purposes are much less horrible than they was once, however the state of issues nonetheless means plenty of repetitive knowledge entry for nonresident license purposes, and variations in a producer’s solutions might outcome within the sort of inconsistencies that set off yellow flags in state critiques. Yellow flags aren’t pink flags – these inconsistencies don’t essentially imply your producer’s software will probably be rejected. However they may decelerate the state’s approval course of as somebody checks solutions in opposition to the info to 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 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 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 probably 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 comparable 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 could be troublesome if 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 attenuate the quantity of deja vu and disparate variations your producers encounter. This in flip will increase the chance 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 they usually can change something that’s modified. However they don’t have to know at reminiscences of previous solutions or actual phrasing. It’s the distinction between filling out an entire 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 sort, and line of authority
States are completely different – it’s sort of a complete factor in insurance coverage. With AgentSync, your producers get served the precise questions that matter to them based mostly on their resident state license, their agent sort, 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 need to apply in or will that be a distinct 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 handle. However by baking state reciprocity guidelines into producer licensing purposes and onboarding processes, AgentSync may also help you make the expertise cleaner and extra streamlined than ever earlier than.
No. 5: An company/service can specify the producer’s project 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 traces of authority) that matter, additional decreasing the trouble and frustration to 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 trouble of paperwork to your producers has ended. And not using a system that actively cuts down on the work and frustration to your producers (and your inside 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 an extended and hard-won recruitment course of. With AgentSync, producer onboarding and license purposes can grow to be a possibility for your online business 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 shoppers get full visibility into their distribution channels and optimize their profitability with:
- Dashboards that present high-level overviews and detailed stories you possibly can 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 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 wonderful complexity
- Integrations that synchronize correct knowledge with different software program, making your total 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 degree. Schedule a demo with our workforce immediately, and get began in your future state.
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