This put up is a part of a collection sponsored by AgentSync.
Insurance coverage is a extremely regulated trade, and, with a producer workforce that’s turning over as a technology retires and indicators over their companies, decreasing time spent on handbook knowledge entry for each inner and exterior groups is essential to long-term development.
Once I took on the function of president at Bridger Insurance coverage Providers somewhat greater than a yr in the past, one in all my first priorities was to streamline operations. As a lot because the trade likes handbook, I used to be prepared to fireplace “handbook.”
Appointing was a kind of processes that was too handbook and required an excessive amount of hands-on consideration for a corporation that has lots of of places of work across the nation. Previous to working with AgentSync, our course of went one thing like:
- A producer would ship us an electronic mail or name us to ask to be appointed
- Our crew would ship a PDF of our company settlement, an digital funds switch settlement, a W-9, and so on.
- The producer would ship again the whole lot with copies of their licenses
- Our employees would manually sort up the whole lot to place it into our consumer relationship administration system and coverage admin system
It was a very inefficient course of, regardless of wanting very like 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 trade, and we are able to solely keep appointments and do enterprise with producers who’re correctly licensed. So, synchronizing nationwide producer numbers (NPNs) and having 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 status as a technology-forward firm. But, we’re seeing the insurance coverage trade change, with long-time company homeowners leaving the trade and promoting their companies. So, after I noticed our portal nonetheless had 40 or so questions, I knew we had some room for enchancment.
In the case of on-line processes, if one thing is just too lengthy or difficult, there will probably be a drop-off in completion. So we examined our portal to critically have a look at the info we had been amassing. We tried to expertise the method as our customers would, and perceive the place the bottlenecks or ache factors had been. And we determined there have been a variety of locations we might create much more efficiencies past a digitized model of our onboarding course of.
Buyer Success crew ranges up the partnership
Taking a handbook, 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 crew about how one can additional streamline our onboarding and appointment course of.
One of many challenges we confronted was managing producers and company companions throughout lots of of areas in numerous states. Rethinking our onboarding course of was going to require a variety of hands-on studying, and, fortuitously, the AgentSync Buyer Success crew proved to be as much as the duty.
From discipline mapping between AgentSync and our e-signature instruments to stripping down required fields and making certain the person expertise was strong, the AgentSync crew was with us each step of the way in which. Not solely did they do what we requested, however they engaged with us to present suggestions and enter on methods to enhance our course of, too.
The crew at AgentSync noticed this as a problem to higher not simply the Bridger expertise, but in addition the AgentSync options set. Understanding that we had a crew 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 info, fields autofill throughout our platforms. Our potential companions can join on-line, entry the portal, and apply for an appointment in a matter of minutes. Our admins examine purposes to make sure the data is all there, then click on a button to create a signature bundle. I signal it, the producer indicators it, and we’re finished. 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 %, so having an environment friendly, automated, and streamlined onboarding and appointing course of is instrumental.
Utilizing improvements to fulfill a altering trade for development
Trade longtimers are growing old out. Whereas there are lots of 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 identify modifications, entity principal modifications, and a complete course of of fixing info for the enterprise entities and the producers concerned.
We’re rising our base whilst this trade 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 programs, all of which make it simpler to draw new company homeowners and retain the companies we already contract with. However there are lots of carriers on the market which can be nonetheless utilizing written papers to deal with these modifications.
Benefiting from expertise places us a reduce above. As an alternative of recruiting new places of work 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 telephone.
Partnering with AgentSync has been a part of this imaginative and prescient – we’ve got come to count on the responsive communication wanted to implement modifications as we see them, and we all know we are able to get responses or conferences with our AgentSync crew in a measure of hours, not days. That has set us up for achievement in higher concentrating on our alternatives in untapped market areas, profiting from 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 circumstances proceed to drive these improvements, we’re wanting ahead to what comes subsequent.