Xchange Agency Contracting delivers a single solution for all distribution channels, enabling rapid onboarding of agencies and agents to speed time to market
RegEd will present its next-generation Xchange Agency Contracting solution at the 2022 InsureTech Connect (ITC) Conference. Developed with input from some of the nation’s largest insurance companies, Xchange Agency Contracting significantly reduces the time to contract and appoint producers while providing a streamlined user experience.
ITC Vegas is the world’s largest insurtech event – offering unparalleled access to the most comprehensive and global gathering of tech entrepreneurs, investors, and insurance industry executives. Over the course of three days, the industry will convene to showcase new innovations, learn how to increase productivity and reduce costs, and engage in exceptional networking opportunities. Attendees will include industry executives from Property & Casualty, Life, Health, Small Business and Specialty.
“To gain competitive advantage in today’s marketplace, insurance companies must foster strong relationships with their distribution partners,” said Debra Freitag, Chief Strategy Officer at RegEd. “Xchange Agency Contracting improves producer satisfaction and can increase lifetime sales potential by providing a seamless experience that attracts top producers and accelerates the placement of compliant business. We look forward to discussing the opportunities these capabilities present with the leaders gathered at ITC.”
Improving onboarding for agencies and agents
Xchange Agency Contracting automates agency and agent onboarding and credentialing, providing a seamless, frictionless process:
- Best-in-class capabilities connect contracting, licensing, appointment, registration and CE/training and ongoing maintenance of credentials.
- The appropriate contracting package is automatically generated and presented based on agency data to reduce data entry.
- Following contract completion, business process automation (BPA) auto-triggers transactions and drives work processes without human intervention, providing true “hands-free” transactions.
- Licensure and demographic data automatically populate from an agency’s CRM solution and regulatory databases, greatly streamlining the collection of producer data.
- Real-time credentials validation delivers an automated “clear to sell” signal to ensure compliant business placement.
- Automated data synchronization with the National Producer Database (PDB) through alerts from the National Insurance Producer Registry (NIPR), Web Electronic Filing Transfer (WebEFT) and internal databases maintains producer and agency credentialing and compliance data.
Xchange Agency Contracting also offers comparative metrics, such as a snapshot of an independent agent’s appointments across multiple carriers and a view of the insurer’s share of written premium from each agency. These metrics can help carriers identify opportunities and form strategies to gain that business.
To learn more about how Xchange Agency Contracting drives high efficiency in agency and agent contracting, visit RegEd at booth #2377 the 2022 ITC Conference or schedule a demonstration.
About RegEd
RegEd is the market-leading provider of RegTech enterprise solutions with relationships with more than 200 enterprise clients, including 80% of the top 25 financial services firms.
Established in 2000 by former regulators, the company is recognized for continuous regulatory technology innovation with solutions hallmarked by workflow-directed processes, data integration, regulatory intelligence, automated validations, business process automation and compliance dashboards. The aggregate drives the highest levels of operational efficiency and enables our clients to cost-effectively comply with regulations and continuously mitigate risk.
Trusted by the nation’s top financial services firms, RegEd’s proven, holistic approach to RegTech meets firms where they are on the compliance and risk management continuum, scaling as their needs evolve and amplifying the value proposition delivered to clients. For more information, please visit www.reged.com.