How Service Insurance coverage Firms Went Nationwide in No Time

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

When Service Insurance coverage Firms determined to develop nationwide, what was as soon as a mildly cumbersome job (for simply the state of Texas), morphed right into a Herculean problem. The shift from a state-specific focus to a nationwide presence meant grappling with the patchwork of producer licensing rules and processes throughout all 50 states.

This new problem led Service Insurance coverage Firms to discover a new answer. By partnering with AgentSync, this staff compensation insurance coverage chief was in a position to take what had beforehand been days of labor down to only a few minutes.

Read Service Insurance Companies’ full success story here

The earlier than state: low-tech and tedious

Jay Howard, Director of Compliance and Danger Administration at Service Insurance coverage Firms, discovered himself on the helm of a newly established compliance division, as the corporate started its transition from working solely within the state of Texas to offering staff compensation insurance policies nationwide.

Traditionally, appointing producers in only one state was sufficient to take up Howard’s weekends as a result of he needed to fill out paper types by hand and mail them to the Texas Division of Insurance coverage with a verify for every producer. Howard instantly knew that he couldn’t scale up Service Insurance coverage Firms’ nationwide presence with out the assistance of recent expertise to expedite the method.

Makes an attempt at an answer

Earlier than diving into AgentSync, Howard’s small compliance workforce tried making do with one thing the corporate already had: an IT ticketing system. They shortly realized the downsides of making an attempt to make use of the mistaken software for the job. Like many groups that attempt to repurpose one thing they’ve into what they really want, the “answer” created as many new issues because the few issues it improved.

Howard quickly realized the one actual answer to his workforce’s downside was to discover a trendy expertise platform that was deliberately constructed with compliance administration in thoughts. Fortunately, given the intense nature of market conduct and the scrutiny each insurer is beneath, Howard mentioned he didn’t have a tough time making the case for an automatic compliance answer to his leaders at Service Insurance coverage Firms.

The answer that stood out from the gang

“AgentSync’s agility was an enormous promoting level for us. That, and the safety and cloud-based nature we noticed AgentSync had set it other than others we have been contemplating, particularly from our technical stakeholder’s perspective.”—Jay Howard, Director of Compliance and Danger Administration

With management’s buy-in, Howard began his seek for the proper insurance coverage compliance expertise answer. For a lot of in his place, getting the IT division’s buy-in is a problem when taking a look at any new software program. Fortunate for Howard, an IT chief was truly the primary one to recommend having a look at AgentSync.

As soon as Howard dug deeper, it was clear that AgentSync stood out from the competitors. Service Insurance coverage Firms prioritized info safety and the technical agility of their answer, each of which have been key promoting factors after they examined AgentSync.

How AgentSync helps Service Insurance coverage Firms

With AgentSync, the time to handle producer appointments plummeted from two days to mere minutes, permitting Service Insurance coverage Firms to:

• Remove time-consuming and laborious duties that employees beforehand needed to work time beyond regulation to finish
• Take pleasure in full peace of thoughts that no producer is promoting in any state with out the proper appointments
• Present everybody from the compliance workforce, accounting, management, and regulators fast entry and a clear view of any info they want
• Shortly export knowledge at regulators’ request with out spending any additional time

Moreover, AgentSync’s impression at Service Insurance coverage Firms prolonged past operational efficiencies. It essentially improved the day by day work life for these answerable for managing agent appointments and compliance. “The primary profit I observed after we obtained AgentSync was that I wasn’t spending my weekends catching up on processing appointments by hand anymore,” Howard shared.

Read Service Insurance Companies’ full success story here

Prepared to rework your compliance course of?

If Service Insurance coverage Firms’ journey from compliance chaos to streamlined effectivity resonates with you, it’s time to discover what AgentSync can do to your group. Contact us today to talk with one among our insurance coverage compliance consultants.

Subjects
Carriers
Texas