Aite-Novarica Report back to Modernize Service Onboarding for Increasing Distribution

This publish is a part of a collection 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 vital.: To assist, AgentSync has sponsored a report with Aite-Novarica, referred to 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 seemingly improve as agent churn rises, and the way rising instruments like service administration software program might want to lower dangers whereas enabling progress.

Or, if you happen to’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 turn out to be extra snug with instruments that present a sturdy digital expertise and extra client autonomy. Nonetheless, with 75 percent or more of all insurance sales led by human agents, there’s ample purpose to imagine the non-public ingredient isn’t going away any time quickly.

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

  • 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 numerous unbiased channel, what components most affect producers’ preferences for particular person carriers?
  • How do carriers efficiently navigate the strain of producer repute and progress with the dangers and inconveniences related to thorough compliance?

As mergers and acquisitions stay excessive and even improve within the insurance coverage trade, carriers looking for to develop whereas sustaining reputations of being low-risk and simple to work with might want to lean into digital transformations that maintain 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 stable producer relationships

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

Carriers that may place their compliance duties as a progress prospect by utilizing producer onboarding administration software program can 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 – perfect for the rising insurance coverage producer market.

Additional, onboarding administration software program may help carriers maintain {dollars} of their pockets by not solely decreasing churn and making it simpler to recruit and retain gifted monetary professionals, but additionally by way of utilizing Just-In-Time (JIT) appointment processes that lower your expenses 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 personal producer compliance protocols from onboarding to termination, download the Checklist: Turning Compliance into a Competitive Advantage for Carriers.


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