The term Onboarding means different things to different people.
For a background-check vendor, onboarding can mean collecting demographic information on their client’s potential employees; for a human-resource professional, it means recruiting new staff; and for some insurers, it involves collecting information, verifying, contracting appointing,
verifying product training, and setting up the producer in various administrative systems.
For many insurers, this is, or has been, a manual process that crosses multiple departments, often requiring management interventions and fraught with inefficiencies and unnecessary costs.
For producers, onboarding can be outdated and a barrier to selling.
Typically, the manual aspects of the onboarding process can take one to three weeks and inaccurate information on the forms can double this processing time.
Insurers using a manual process often lose top-performing producers and business to those using more modern automated solutions. With automation slicing down manual efforts by about 95%, today’s solutions are a must have for insurers to gain the market advantage.
Download this white paper and learn about all the benefits an insurer can reap from an effective producer onboarding solution.