This submit is a part of a collection sponsored by AgentSync.
When a service insurance coverage firm determined to increase nationwide, what was as soon as a considerably tedious activity (solely in Texas) was a formidable problem. The shift from a state-specific focus to a nationwide growth meant grappling with a patchwork of producer licensing rules and processes throughout all 50 states.
This new problem has led service insurers to seek out new options. By partnering with AgentSync, this employees’ compensation insurance coverage chief was in a position to cut back what used to take days to simply minutes.
Read the full service insurance company success story here
Beforehand: Low-tech and boring
Jay Howard, Director of Compliance and Threat Administration for Service Insurance coverage Firm, stated the newly fashioned firm will start its transition from working solely in Texas to offering employees’ compensation insurance coverage nationwide. He was appointed to guide the compliance division.
Traditionally, Mr. Howard needed to fill out paper kinds by hand and mail them to the Texas Division of Insurance coverage with a test for every producer, making it not possible for Mr. Howard to spend his weekends in only one state. It was sufficient to nominate a producer. Mr. Howard shortly realized that he couldn’t increase his service insurance coverage firm’s nationwide presence with out the assistance of contemporary expertise to hurry up the method.
Making an attempt an answer
Earlier than embarking on AgentSync, Howard’s small compliance workforce tried to make do with what the corporate already had: an IT ticketing system. They shortly realized the draw back of making an attempt to make use of the flawed instrument for the job. Like many groups that attempt to repurpose what they’ve into one thing they really want, this “answer” created as many new issues because it improved some.
Howard shortly realized that the one actual answer to his workforce’s issues was to discover a trendy expertise platform purposefully constructed with compliance administration in thoughts. Thankfully, given the intense nature of market conduct and the scrutiny that each one insurance coverage corporations are topic to, we had no issue in making the case for automated compliance options to service insurance coverage firm leaders. , stated Howard.
An answer that stands out
“AgentSync’s agility was an enormous promoting level for us. That, together with AgentSync’s safety and cloud-based nature, made AgentSync totally different from different merchandise we have been contemplating, particularly from a technical stakeholder perspective. – Jay Howard, Director of Compliance and Threat Administration.
With administration buy-in, Howard started looking for the fitting insurance coverage compliance expertise answer. For a lot of in his place, he has issue getting buy-in from the IT division when contemplating new software program. Thankfully for Howard, his IT chief was the primary to recommend he take into account AgentSync.
As Howard dug deeper, it was clear that AgentSync stood out from the competitors. When contemplating AgentSync, the providers insurance coverage firm prioritized info safety and the answer’s technical agility. Each of those have been essential promoting factors.
How AgentSync helps service insurers
AgentSync dramatically lowered producer reserving administration time from two days to simply minutes, permitting service insurers to:
- Remove time-consuming and labor-intensive duties that beforehand required employees to work extra time.
- Get pleasure from full peace of thoughts as our producers is not going to promote with out correct reservations in any state.
- Give compliance groups, treasurers, leaders, and regulators instantaneous entry and a clear view of the data they want.
- Export information shortly as required by regulatory authorities with out spending additional time
Moreover, AgentSync’s affect on service insurance coverage corporations goes past simply enhancing operational effectivity. This has essentially improved the day-to-day work of these chargeable for managing agent appointments and compliance. “The primary profit we observed with AgentSync was that we not needed to spend our weekends manually processing appointments,” he says.
Read the full service insurance company success story here
Are you prepared to rework your compliance processes?
In case your service insurance coverage firm’s journey from compliance chaos to streamlined effectivity resonates with you, take into account what AgentSync can do on your group. Contact us now Speak to considered one of our insurance coverage compliance specialists.
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