September 22, 2023

This put up is a part of a sequence sponsored by AgentSync.

For carriers seeking to personal the way forward for their distribution channels, having a reputational benefit with downstream businesses and their producers is mission important.: To assist, AgentSync has sponsored a report with Aite-Novarica, known as Modernizing the Producer Onboarding Expertise.

Learn the report back to study extra about how most carriers’ present processes pose liabilities, how mergers and acquisitions will probably enhance as agent churn rises, and the way rising instruments like service administration software program might want to lower dangers whereas enabling progress.

Or, in the event you’re prepared to remodel your appointment administration processes past onboarding to impress your producers and downstream insurance coverage distribution companions, obtain Guidelines: Turning Compliance right into a Aggressive Benefit for Carriers.

Service challenges to the producer expertise

Many carriers have rightly trended towards opening direct gross sales instruments to client audiences as they grow to be extra comfy with instruments that present a strong digital expertise and extra client autonomy. Nonetheless, with 75 percent or more of all insurance sales led by human agents, there’s ample motive to imagine the non-public component isn’t going away any time quickly.

Together with each information and contextual commentary from trade executives, Modernizing the Producer Onboarding Expertise tackles questions comparable to:

  • As unprecedented retirement charges go away a youthful cohort of producers within the workforce, how are their digital expectations altering?
  • What can carriers count on from producer relationships sooner or later?
  • In an more and more various impartial channel, what elements most affect producers’ preferences for particular person carriers?
  • How do carriers efficiently navigate the stress of producer repute and progress with the dangers and inconveniences related to thorough compliance?

As mergers and acquisitions stay excessive and even enhance within the insurance coverage trade, carriers looking for to develop whereas sustaining reputations of being low-risk and straightforward to work with might want to lean into digital transformations that preserve progress and compliance from competing. Modernizing the Producer Onboarding Expertise elaborates on how: Download your copy of the report here.

Alternatives for carriers that set up strong producer relationships

Insurance coverage distribution companions from businesses to MGAs to producers typically type their first (and probably most lasting) impressions of a service via the onboarding expertise. A “course of” consisting of a string of emails and cellphone calls, missed sync-ups, and messages that start with “I’m sorry however we haven’t but acquired…” can begin you off on the fallacious foot. However modern insurance agent onboarding software can transfer your companions via the method shortly, effectively, and with as little forwards and backwards as doable.

Carriers that may place their compliance duties as a progress prospect through the use of producer onboarding administration software program could have some great benefits of each decreasing danger and successfully leveraging insurance coverage expertise to construct relationships. Velocity and belief collectively make for a frictionless expertise – best for the rising insurance coverage producer market.

Additional, onboarding administration software program may help carriers preserve {dollars} of their pockets by not solely decreasing churn and making it simpler to recruit and retain proficient monetary professionals, but in addition via utilizing Just-In-Time (JIT) appointment processes that get monetary savings on pointless producer appointments.

To find out how ahead carriers throughout the trade are buying a producer-friendly repute in onboarding, download your copy of Modernizing the Producer Onboarding Experience. To handle your individual producer compliance protocols from onboarding to termination, download the Checklist: Turning Compliance into a Competitive Advantage for Carriers.


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