This put up is a part of a sequence 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, lowering time spent on handbook knowledge entry for each inner and exterior groups is essential to long-term progress.
Once I took on the position of president at Bridger Insurance coverage Providers just a little greater than a 12 months in the past, considered one of my first priorities was to streamline operations. As a lot because the business 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 an organization that has a whole lot of workplaces 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 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 consumer relationship administration system and coverage admin system
It was a very inefficient course of, regardless of trying very similar to the method of quite a few insurance coverage corporations working in our house.
Gaining effectivity by way of 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 will solely keep appointments and do enterprise with producers who’re correctly licensed. So, synchronizing nationwide producer numbers (NPNs) and with the ability to let businesses know to get their producers present on their persevering with schooling (CE) and licenses was an effective 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 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.
In terms of on-line processes, if one thing is simply 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 information we had been gathering. 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 lots of locations we may 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 software – whether or not digital or on paper. So, we began a dialog with the AgentSync crew about how you can additional streamline our onboarding and appointment course of.
One of many challenges we confronted was managing producers and company companions throughout a whole lot of areas in numerous states. Rethinking our onboarding course of was going to require lots of hands-on studying, and, luckily, the AgentSync Buyer Success crew proved to be as much as the duty.
From subject mapping between AgentSync and our e-signature instruments to stripping down required fields and guaranteeing 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. Realizing 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 a substitute 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 verify purposes to make sure the knowledge is all there, then click on a button to create a signature bundle. I signal it, the producer indicators it, and we’re carried out. 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 satisfy a altering business for progress
Trade longtimers are getting older out. Whereas there are a lot of statistics to again this up, even anecdotally, Bridger is seeing a fair proportion of people who find themselves retiring and promoting their companies. Most of those gross sales find yourself with title modifications, entity principal modifications, and an entire course of of adjusting info for the enterprise entities and the producers concerned.
We’re rising our base whilst 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 programs, all of which make it simpler to draw new company homeowners and retain the companies we already contract with. However there are a lot of carriers on the market which can be nonetheless utilizing written papers to deal with these modifications.
Benefiting from know-how places us a reduce above. As a substitute of recruiting new workplaces by having to make a prolonged case for why they need to sit by way of an hour or extra of printing, filling, and scanning paperwork, we will 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’ve got come to count on the responsive communication wanted to implement modifications as we see them, and we all know we will 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 trying ahead to what comes subsequent.