Post by account_disabled on Dec 12, 2023 5:38:13 GMT 1
Time to market is reduced to a minimum. A very important issue related to the change in the cooperation model is the removal of the intermediary's responsibility for the amount of the premium the value of the discount granted the identification of a special client or directing the offer to the path of individual risk assessment because this is done by the insurer. The multiagency provides data and their analysis is handled by the company's system. Additionally the multiagency employee can keep track of the progress of the case without having to send e mails or call anywhere when the IOR process is completed information about its result and the value of the premium will be automatically transferred from.
TU system to the intermediary's application. Importantly the company takes full responsibility for the scope of insurance e.g. mutually exclusive clauses extensions unusual sum insured and the validity period of the offer. The multiagency does not have to ensure that the document Email Marketing List templates and policy annexes are up to date and correct because they always receive them directly from the insurer. An important convenience for intermediaries is that they do not have to perform often very complicated settlements calculate commission values and monitor monthly discount limits because the insurer receives all information on an ongoing basis as it issues the policies itself.
There is also no need to generate data files for companies or load files from insurers into your system which usually have different formats structures and scope of data depending on the insurance company. Since the calculations are not performed in the broker's software questions may arise as to whether they will always be available. Nowadays every multi agency uses the Internet so connecting to the company's system will not pose any problem but potential interruptions in the operation of web services should not be noticeable to intermediaries because all service work is performed outside the working hours of insurance distribution points.
TU system to the intermediary's application. Importantly the company takes full responsibility for the scope of insurance e.g. mutually exclusive clauses extensions unusual sum insured and the validity period of the offer. The multiagency does not have to ensure that the document Email Marketing List templates and policy annexes are up to date and correct because they always receive them directly from the insurer. An important convenience for intermediaries is that they do not have to perform often very complicated settlements calculate commission values and monitor monthly discount limits because the insurer receives all information on an ongoing basis as it issues the policies itself.
There is also no need to generate data files for companies or load files from insurers into your system which usually have different formats structures and scope of data depending on the insurance company. Since the calculations are not performed in the broker's software questions may arise as to whether they will always be available. Nowadays every multi agency uses the Internet so connecting to the company's system will not pose any problem but potential interruptions in the operation of web services should not be noticeable to intermediaries because all service work is performed outside the working hours of insurance distribution points.