Agents and brokers are increasingly feeling overloaded, and that can lead to errors and omissions. They deal with inbound calls, lead generation, lead follow-up, requests from managers, applications, underwriting requests, and in many offices administrative work and servicing of policies. That opens up a wide opportunity for failure that could lead to expensive E&O liability claims.
When agents and brokers are maxed out, it’s time to look at the type of systems and processes they are using with the MGAs and Program Administrators to see if there are improvements that can be made to ease their workload. Streamlining and automating some processes can relieve some of the time consumed in the underwriting and quoting process. A quality commercial lines insurance rating system like NetRate can provide both efficiency and accuracy that will make agent and broker work processes smoother and less stressful with their MGAs and Program Administrators.
Eliminating re-entry of data reduces on chances of introducing errors along the way while also shaving critical time off of each application. Our policy printing system, NetPPS, is part of a fully automated rate-to-issue process. It automatically generates mandatory, conditional and optional policy forms selected by the user, removing the need for redundant data entry in the issuance process. With business rules pertaining to the forms already embedded in the system, proper forms are generated based on coverage selections, policy jurisdictions and other rating data. What could be easier!
Agents and brokers can also have the confidence that a complete suite of forms across all supported ISO lines of business are available within the system, along with company-specific and non-ISO forms that can be created on a custom basis to include mapping to carrier-specific rating data that is generated within the NetRate commercial lines rating system.
Reducing agent and broker workload while increasing productivity and accuracy is a NetRate net win for all parties in the insurance quoting business. Keep your highest-quality talent happier with insurance quoting software that reduces input time and errors and frees them up to develop and follow up on new leads and business generation to keep your MGA, program administrator or insurance company growing.
NetRate can help make your rating and associated business processes more efficient and enhance your competitiveness while keeping your unique needs at the center of the system. Please give us a call at (877) 790-1114 or email us to find out how NetRate can provide you with solutions to improve your comparative rating process.