This submit is a part of a sequence sponsored by AgentSync.
Are your producers bored with getting into (and re-entering) their solutions 5 alternative ways into slight variations of the Uniform Producer Utility each time they apply for a brand new license or renewal?
In case your response is “effectively, too unhealthy, they should in the event that they need to be compliant,” at AgentSync, our Handle product and customized onboarding processes want 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 Utility
State adoption of the Uniform Producer Utility for resident or nonresident licenses has been transformative throughout the trade, standardizing (for probably the most half) the knowledge a producer must maintain 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 should fill out the appliance 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 Utility is that many states have nonuniform questions. Typically these questions are the very same. However generally there’s a slight variation – assume, “When you’ve got ever been convicted of against the law…” vs. “When you’ve got you been charged with against the law…” vs. “Within the final 10 years, when you have you been convicted of against the law…” vs. “In case you’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. It’s a must to examine that you simply flagged all of the variations and answered them appropriately based on no matter taste of the query is on that specific state’s app. And in case your producer occurs to have a prison background, determining which states require what for reporting is its personal wrestle.
The results of handbook utility fills
Purposes are much less horrible than they was, however the state of issues nonetheless means a lot of repetitive information entry for nonresident license purposes, 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 pink flags – these inconsistencies don’t essentially imply your producer’s utility might be rejected. However they might decelerate the state’s approval course of as somebody checks solutions in opposition to the info on 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 Utility. 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 a substitute of sending a producer a stack of purposes to fill out for the checklist 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: Lowering nonuniform query variations
States will doubtless all the time have their very own flavors and variations within the type of nonuniform questions for the producer utility. 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 making an attempt to maintain your reply in line with the altering phrasing in order to not reply dishonestly or confuse your self might be tough whenever 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 reduce 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 utility, nonresident utility, 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 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 based mostly on resident license, agent kind, and line of authority
States are completely different – it’s variety 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 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 distinct utility?
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/service 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 utility inquiries to solely these states (or strains of authority) that matter, additional lowering the effort and frustration on your producer companions.
Shifting from paper to digital to your subsequent stage
Simply since you’ve transitioned off of paper purposes doesn’t imply the effort of paperwork on your producers has ended. And not using a system that actively cuts down on the work and frustration on 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 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 purposes can change into a chance for your online business to WOW producers and assist them get the licenses they want.
Reworking 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 studies you possibly can type by state or gross sales territories
- Bulk transactions that will let 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 wonderful complexity
- Integrations that synchronize correct information with different software program, making your whole workspace extra helpful and de-siloing very important information 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 group immediately, and get began in your future state.
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