This put up is a part of a collection sponsored by AgentSync.
Insurance coverage is a extremely regulated business, and, with a producer workforce that’s turning over as a era retires and indicators over their companies, decreasing time spent on guide knowledge entry for each inner and exterior groups is vital to long-term development.
Once I took on the function of president at Bridger Insurance coverage Providers a bit greater than a yr in the past, one in all my first priorities was to streamline operations. As a lot because the business likes guide, I used to be prepared to fireside “guide.”
Appointing was a kind of processes that was too guide and required an excessive amount of hands-on consideration for a corporation that has tons of of workplaces across the nation. Previous to working with AgentSync, our course of went one thing like:
- A producer would ship us an e mail or name us to ask to be appointed
- Our group would ship a PDF of our company settlement, an digital funds switch settlement, a W-9, and so forth.
- The producer would ship again every little thing with copies of their licenses
- Our workers would manually sort up every little thing to place it into our shopper relationship administration system and coverage admin system
It was a really inefficient course of, regardless of wanting very similar to the method of quite a few insurance coverage corporations working in our house.
Gaining effectivity by course of enhancements
Previous to my coming aboard as president, Bridger was already working with AgentSync and had applied an agent onboarding portal to automate this course of. This can be a closely regulated business, and we are able to solely keep appointments and do enterprise with producers who’re correctly licensed. So, synchronizing nationwide producer numbers (NPNs) and with the ability to let companies know to get their producers present on their persevering with training (CE) and licenses was a good way to make sure compliance.
That first step of automating producer onboarding and appointments helped additional our popularity as a technology-forward firm. But, we’re seeing the insurance coverage business change, with long-time company homeowners leaving the business and promoting their companies. So, after I noticed our portal nonetheless had 40 or so questions, I knew we had some room for enchancment.
Relating to on-line processes, if one thing is just too lengthy or difficult, there can be a drop-off in completion. So we examined our portal to critically have a look at the info we have been amassing. We tried to expertise the method as our customers would, and perceive the place the bottlenecks or ache factors have been. And we determined there have been plenty of locations we may create much more efficiencies past a digitized model of our onboarding course of.
Buyer Success group ranges up the partnership
Taking a guide, paper-based, course of and making it digital isn’t the identical as being trendy or digital. We all know our companions don’t have the time to spend 45 minutes on an appointment utility – whether or not digital or on paper. So, we began a dialog with the AgentSync group about methods to additional streamline our onboarding and appointment course of.
One of many challenges we confronted was managing producers and company companions throughout tons of of places in numerous states. Rethinking our onboarding course of was going to require plenty of hands-on studying, and, thankfully, the AgentSync Buyer Success group proved to be as much as the duty.
From area mapping between AgentSync and our e-signature instruments to stripping down required fields and guaranteeing the consumer expertise was strong, the AgentSync group was with us each step of the way in which. Not solely did they do what we requested, however they engaged with us to provide suggestions and enter on methods to enhance our course of, too.
The group at AgentSync noticed this as a problem to raised not simply the Bridger expertise, but in addition the AgentSync options set. Understanding that we had a group behind us, dedicated to delivering one thing that basically works for all of us, made the method far simpler. As an alternative of taking hours to sort and retype data, fields autofill throughout our platforms. Our potential companions can enroll on-line, entry the portal, and apply for an appointment in a matter of minutes. Our admins verify purposes to make sure the knowledge is all there, then click on a button to create a signature package deal. I signal it, the producer indicators it, and we’re completed. And in all of that, we all know state-specific compliance guidelines are baked in so we don’t fear about lacking them.
Over time, these efficiencies flip into revenue. During the last 12 months, we’ve grown our enterprise greater than 450 p.c, so having an environment friendly, automated, and streamlined onboarding and appointing course of is instrumental.
Utilizing improvements to satisfy a altering business for development
Trade longtimers are growing older out. Whereas there are numerous statistics to again this up, even anecdotally, Bridger is seeing a justifiable share of people who find themselves retiring and promoting their companies. Most of those gross sales find yourself with title adjustments, entity principal adjustments, and a complete course of of adjusting data for the enterprise entities and the producers concerned.
We’re rising our base at the same time as this business changing-of-the-guard happens as a result of we’re making this shift easy, with e-signature instruments and auto-filling integrations into our different techniques, all of which make it simpler to draw new company homeowners and retain the companies we already contract with. However there are numerous carriers on the market which can be nonetheless utilizing written papers to deal with these adjustments.
Making the most of expertise places us a lower above. As an alternative of recruiting new workplaces by having to make a prolonged case for why they need to sit by an hour or extra of printing, filling, and scanning paperwork, we are able to current potential companions with a QR code the place they will apply for an appointment straight from their cellphone.
Partnering with AgentSync has been a part of this imaginative and prescient – we now have come to count on the responsive communication wanted to implement adjustments as we see them, and we all know we are able to get responses or conferences with our AgentSync group in a measure of hours, not days. That has set us up for fulfillment in higher concentrating on our alternatives in untapped market areas, making the most of market cycles, and leveraging our momentum to develop and scale.
At Bridger, we’ve seen that operational effectivity, efficient compliance, and our companions’ expertise converge on this speedy onboarding course of constructed on trendy insurance coverage infrastructure. Because the market situations proceed to drive these improvements, we’re wanting ahead to what comes subsequent.
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