6 Causes to Discover Automated Compliance and Producer Administration with AgentSync

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

The insurance coverage business has been gradual to undertake digital-first frameworks for doing enterprise, and the a part of the enterprise that offers with compliance and regulation change administration much more so.

However, day-to-day, we’re seeing that pattern change. Sometime this trickle of early adopters of insurance coverage compliance and producer administration tech will discover itself an entire flood as inside stakeholders and state regulators alike cease shopping for a shoulder shrug and a “that’s how we’ve all the time performed it” as a convincing purpose for noncompliance.

With a wide range of tech-based compliance options in the marketplace (and no, we’re not counting a digital spreadsheet as a tech-based compliance solution, sorry, not sorry), why are extra corporations turning to AgentSync? Stick to us and we’ll provide you with six convincing causes.

1. Velocity issues for producers, brokers, brokers, and customers

AgentSync Handle and Autopilot take an company’s or provider’s duties from hours of guide information entry, together with cross-referencing web sites and spreadsheets, to a couple minutes of exercise in a single platform.

Utilizing APIs, cloud-native, and low-code tech options, AgentSync’s sturdy integrations and unparalleled information accuracy breaks via the milieu of outdated legacy tech to revolutionize operations and compliance within the insurance coverage department of the monetary providers business. This issues when the distinction between you and the competitors comes right down to speed-to-quote or speed-to-bind.

If you happen to put your brokers and brokers on ice whilst you generate quotes, or worse, you ship simple quotes with zero license validation for assurance that it’s good, certified enterprise, then you definately threat dropping to a competitor. Or dropping enterprise to license verification missteps. Regardless, guide compliance and guide producer administration on this respect are simple methods to make a poor impression in your customers.

Since some strains of enterprise gained’t see any direct connection between a provider and the tip shopper till that first premium examine is written, impressing them with correct and well timed enterprise processes is a should.

2. Scale back threat by placing fashionable compliance in all places

If you happen to’re already engaged on legacy tech, you don’t need your compliance resolution to look the identical: dated, complicated, custom-coded, and tough to make use of. Managing compliance “the best way you all the time have” with gradual, guide methods means taking massive dangers: monetary, authorized, reputational, and extra.

AgentSync is dedicated to constructing insurance coverage infrastructure that’s present, automated, and integrated into an organization’s full tech stack. We constructed the first-of-its-kind API built-in with the business’s supply of fact, giving our prospects a style of insurance coverage licensing and compliance information up to date throughout all their methods every day.

Our APIs weave compliance and agent administration via our prospects’ whole ecosystems, giving them the ability to cease violations earlier than they occur, and all with much less guide hands-on time. By working automated license validation processes – no human contact crucial except it comes again with a pink flag! – you may guarantee compliance at each level of the gross sales cycle, avoiding expensive regulatory errors, fee clawbacks, or, for adjusters, even fraudulent payouts.

3. Perceive your information and spend much less time saying, “however what does it imply?“

It’s not nearly high quality information – state variations in licensing and information interpretation make 1:1 comparisons tough. AgentSync humanizes and contextualizes information, explaining what it means state to state. For insurance coverage companies struggling to do extra with much less, this implies employees want fewer hours and fewer coaching to make sense of the data at their fingertips, and may instantly act on it.

If you happen to don’t perceive the significance of your employees taking speedy motion in your information, perhaps you missed level No. 1, however we’ll reiterate right here, speed equates to trust in lots of industries, so long as that pace is paired with accuracy. With AgentSync’s integrations, and information sourced every day from the business’s supply of fact, it’s each/and.

4. Make change quick

Generally it’s good to pivot in enterprise, and adjustments of virtually any form really feel very dramatic if you’re strapped to legacy methods like Wile E Coyote to an ACME weapon in a Roadrunner cartoon.

Because the business’s first cloud-native resolution, AgentSync has introduced low-code options to life, permitting us to nimbly deal with state regulatory adjustments and customizations. By utilizing low-code fixes, we are able to change course in response to state adjustments (like, as an example, Texas’s and Kansas’s full overhauls of producer regulation in 2021) or to bespoke buyer wants.

5. Future-proof your corporation

Late adopters to the automated compliance and producer administration pattern will discover themselves doing a cowboy shuffle on an empty dancefloor. Put one other method, right now’s tech is already figuring out tomorrow’s high canine within the insurance coverage business.

We serve the fastest-growing corporations in insurance coverage in addition to legacy companies, clearly demonstrating our skill to assist prospects use superior information to develop and scale whereas decreasing threat and remaining compliant.

Good companies are dropping persistence with onboarding processes and distributors that take months to deliver on new brokers after they know others can do it in weeks and even days. They don’t settle for that their operations division has to spend nights and weekends on guide information entry.

6. Be part of the long run

Our improvements have already modified business expectations for compliance and agent administration, and we’re simply getting began.

Don’t simply take our phrase for it:

“After we had been evaluating compliance expertise options, the opposite merchandise appeared dated, bland, and didn’t appear to be customizable. They had been onerous to navigate round, and onerous to learn. AgentSync was the other. It felt cutting-edge and the interface was interesting to take a look at,” stated Matt Brockmeier, Enterprise Growth Specialist at Veterans United Insurance coverage and an AgentSync buyer. “AgentSync confirmed a degree of insurance coverage business experience that we didn’t see in different distributors we had been . A few of them didn’t actually appear that conversant in the business.”

If you happen to’re able to discover what the way forward for compliance and producer administration appear to be in your group, check out a demo today.

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