This submit is a part of a collection sponsored by AgentSync.
Are your producers bored with coming into (and re-entering) their solutions 5 other 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 “nicely, too unhealthy, 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 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 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 data a producer must maintain readily 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 applying many times 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 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 have ever been convicted of a criminal offense…” vs. “When you have you been charged with a criminal offense…” vs. “Within the final 10 years, if in case you 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’ll be able to’t even depend on the regular gruntwork of copy/paste to get you thru. It’s a must to test that you simply flagged all of the variations and answered them appropriately in response to 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 implications of guide utility fills
Purposes are much less horrible than they was once, however the state of issues nonetheless means a number of repetitive information entry for nonresident license functions, and variations in a producer’s solutions may end result within the form of inconsistencies that set off yellow flags in state evaluations. Yellow flags aren’t pink flags – these inconsistencies don’t essentially imply your producer’s utility will probably be rejected. However they may decelerate the state’s approval course of as somebody checks solutions towards 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 Utility. Following are the highest methods we are able to 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 an alternative of sending a producer a stack of functions 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 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 filled 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 according to 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 doable 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 truly 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 utility, nonresident utility, 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 know at recollections of previous solutions or precise 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 primarily based on resident license, agent kind, and line of authority
States are totally different – it’s sort of an entire 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 particular 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 unique 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 handle. 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 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’ll be able to restrict the scope of their onboarding or license utility inquiries to solely these states (or traces of authority) that matter, additional lowering the trouble and frustration to your producer companions.
Shifting from paper to digital to your subsequent stage
Simply since you’ve transitioned off of paper functions doesn’t imply the trouble of paperwork to your producers has ended. With out 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 functions are continuously a possibility for dropped enterprise and misplaced producers, even after an extended and hard-won recruitment course of. With AgentSync, producer onboarding and license functions 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 functions is just the start.
Handle can also 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 experiences you’ll be able to type by state or gross sales territories
- Bulk transactions that permit you to 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 wonderful complexity
- Integrations that synchronize correct information with different software program, making your complete workspace extra precious 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 at present, and get began in your future state.
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