If every applicant you interviewed regarding their insurability profile enjoyed total recall and a straightforward attitude about their driving history, the job of being an insurance agent would be a lot easier.
Unfortunately, many folks don't have this ability - which is why you and your carriers can enjoy the benefits of the iiX Point of Sale process.
iiX gives you the opportunity to verify the underwriting information from your applicant. From one software product, or through the internet, any agent can establish the facts by:
- Ordering iiX underwriting reports as a sponsored agent of one of your carriers, or
- An independent agency decision to order reports prior to placement.
Point of Sale - how it works:
Once an agent has made the decision, based on the applicant's initial profile, to place the business with a sponsoring company, the iiX Point of Sale (POS) program allows the agent to access specific underwriting reports that the company deems appropriate. Through software provided to an agent (or over the internet), an agent is prompted to order certain reports. The charge for those reports is then transferred to the sponsoring company. The only effort required by the agent is to complete the one-step minimal input to obtain the required reports. Based on the immediate underwriting information that is returned, the agent makes the final decision in the submission process:
- Follow-through on the placement with the sponsoring company, or
- Take the application to another carrier whose underwriting guidelines fit the true profile of the applicant.
What reports are available?…
Motor Vehicle Reports (MVR)
Undisclosed Driver Reports
A-PLUS Auto Loss History
A-PLUS Commerical & Personal Property Loss History
Trans Union Credit Score
Benefits? ...you bet:
- Simple to use
- No charge for reports that the sponsoring company requires
- Eliminates rejected apps….correct placement the first time without re-submissions
- Rated correctly the first time…no requests for additional premium
- Follow-up calls to the applicant for additional placement information are virtually eliminated
- proper placement helps protect loss rations for contingency opportunities
No company sponsor? ...no problem:
With the same connection and software enjoyed by sponsored agencies, an agency not sponsored by one of it's carriers can verify driver history data using MVRs from all states (many on an immediate response basis) and have the charge for the reports billed directly to the agency. Additionally, determination of drivers not disclosed on application interview can be found using the iiX Undisclosed Driver process.
How do I become sponsored by a company?…
If you are currently using iiX to access underwriting data, or even if you are not, there is a way to become a sponsored agency. Simply contact your lead carriers and explain the program above or better yet, refer them to this website link (pos.htm). Once a company arranges with iiX for a sponsorship program, chances are your existing iiX software can meet your needs as a sponsored agent.
Requesting iiX Point Of Sale from a company shows you want to do the best job possible, for the least amount of money. POS helps you write the best business, at the right rate, and in the most efficient manner. Companies like it…so will you.
