6 Causes to Discover Automated Compliance and Producer Administration with AgentSync


This put up is a part of a collection 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 development change. Sometime this trickle of early adopters of insurance coverage compliance and producer administration tech will discover itself a complete flood as inside stakeholders and state regulators alike cease shopping for a shoulder shrug and a “that’s how we’ve at all times accomplished it” as a convincing cause for noncompliance.

With quite a lot of tech-based compliance options available on the market (and no, we’re not counting a digital spreadsheet as a tech-based compliance answer, sorry, not sorry), why are extra firms turning to AgentSync? Persist with us and we’ll provide you with six convincing causes.

1. Pace issues for producers, brokers, brokers, and shoppers

AgentSync Handle and Autopilot take an company’s or service’s duties from hours of handbook knowledge 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and low-code tech options, AgentSync’s strong integrations and unparalleled knowledge accuracy breaks via the milieu of outdated legacy tech to revolutionize operations and compliance within the insurance coverage department of the monetary companies business. This issues when the distinction between you and the competitors comes right down to speed-to-quote or speed-to-bind.

For those who put your brokers and brokers on ice when 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 shedding to a competitor. Or shedding enterprise to license verification missteps. Regardless, handbook compliance and handbook producer administration on this respect are simple methods to make a poor impression in your shoppers.

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

2. Cut back threat by placing fashionable compliance in every single place

For those who’re already engaged on legacy tech, you don’t need your compliance answer to look the identical: dated, complicated, custom-coded, and tough to make use of. Managing compliance “the way in which you at all times have” with gradual, handbook programs means taking huge dangers: monetary, authorized, reputational, and extra.

AgentSync is dedicated to constructing insurance coverage infrastructure that’s present, computerized, and built-in into a corporation’s full tech stack. We constructed the first-of-its-kind API built-in with the business’s supply of reality, giving our prospects a style of insurance coverage licensing and compliance knowledge up to date throughout all their programs each 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 handbook hands-on time. By working computerized license validation processes – no human contact essential until it comes again with a crimson flag! – you’ll be able to 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 knowledge and spend much less time saying, “however what does it imply?

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

For those who don’t perceive the significance of your workers taking speedy motion in your knowledge, perhaps you missed level No. 1, however we’ll reiterate right here, velocity equates to belief in lots of industries, so long as that velocity is paired with accuracy. With AgentSync’s integrations, and knowledge sourced each day from the business’s supply of reality, it’s each/and.

4. Make change quick

Typically it is advisable pivot in enterprise, and adjustments of virtually any variety really feel very dramatic whenever you’re strapped to legacy programs like Wile E Coyote to an ACME weapon in a Roadrunner cartoon.

Because the business’s first cloud-native answer, AgentSync has introduced low-code options to life, permitting us to nimbly handle state regulatory adjustments and customizations. Through the use of low-code fixes, we will change path in response to state adjustments (like, for example, Texas’s and Kansas’s full overhauls of producer regulation in 2021) or to bespoke buyer wants.

5. Future-proof your small business

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

We serve the fastest-growing firms in insurance coverage in addition to legacy companies, clearly demonstrating our potential to assist prospects use superior knowledge to develop and scale whereas lowering threat and remaining compliant.

Good companies are shedding endurance 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 handbook knowledge entry.

6. Be a part of the longer term

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:

“Once we had been evaluating compliance know-how options, the opposite merchandise regarded dated, bland, and didn’t appear to be customizable. They had been exhausting to navigate round, and exhausting to learn. AgentSync was the other. It felt cutting-edge and the interface was interesting to take a look at,” mentioned Matt Brockmeier, Enterprise Improvement Specialist at Veterans United Insurance coverage and an AgentSync buyer. “AgentSync confirmed a stage of insurance coverage business experience that we didn’t see in different distributors we had been taking a look at. A few of them didn’t actually appear that acquainted with the business.”

For those who’re able to discover what the way forward for compliance and producer administration appear like to your group, take a look at a demo in the present day.


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