This post is part of a series sponsored by AgentSync.
For operators looking to own the future of their distribution channels, having a reputational advantage with downstream agencies and their producers is mission critical. To help, AgentSync has sponsored a report with Aite-Novarica, called Modernizing the Producer Onboarding Experience.
Read the report to learn more about how most carriers’ existing processes pose liability, how M&As are likely to increase as agent turnover increases, and how emerging tools like carrier management software are they must reduce risks and allow growth.
Or, if you’re ready to transform your appointment management processes beyond onboarding to impress your downstream insurance producers and distribution partners, download Checklist: Turning Compliance into a Competitive Advantage for Carriers.
Carriers challenges to the producer experience
Many operators have rightly tended to open up direct selling tools to consumer audiences as they become more comfortable with tools that provide a robust digital experience and greater consumer autonomy. Nevertheless, with 75 percent or more of all insurance sales led by human agentsthere are many reasons to believe that the personal element is not going away anytime soon.
Including data and contextual feedback from industry executives, Modernizing the Producer Onboarding Experience addresses questions like:
- As record retirement rates leave a younger cohort of producers in the workforce, how are your digital expectations changing?
- What can carriers expect from producer relationships in the future?
- In an increasingly diverse independent channel, what factors most influence producer preferences for individual operators?
- How do shippers successfully manage the strain of producer reputation and growth with the risks and drawbacks associated with strict compliance?
As mergers and acquisitions remain high or even increase in the insurance industry, insurers looking to grow while maintaining a reputation for being low risk and easy to work with will need to lean on digital transformations that prevent growth and growth. compliance compete. Modernizing the Producer Onboarding Experience explains how to: Download your copy of the report here.
Opportunities for carriers building strong relationships with producers
Insurance distribution partners, from agencies to MGAs to producers, often form their first (and possibly most lasting) impressions of an operator through the onboarding experience. A “process” consisting of a series of emails and phone calls, lost syncs, and messages beginning with “Sorry, but we haven’t received yet…” can start off on the wrong foot. But modern insurance agent onboarding software you can move your partners through the process quickly, efficiently, and with as little back and forth as possible.
Operators who can position their compliance obligations as a growth prospect through the use of producer onboarding management software will have the advantages of reducing risk and effectively leveraging insurance technology to build relationships. Speed and trust together create a frictionless experience ideal for the emerging market of insurance producers.
Additionally, onboarding management software can help traders keep dollars in their pockets by not only reducing turnover and making it easier to hire and retain talented financial professionals, but also by using Just-in-time appointment (JIT) processes that save money on unnecessary appointments with producers.
To learn how carriers across the industry are building a producer-friendly reputation on onboarding, Download your copy of Modernizing the Producer Onboarding Experience. To address your own producer compliance protocols from onboarding to termination, download the checklist: turning compliance into a competitive advantage for carriers.
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