NAILBA ID Trends Resource Guide 2019-20 | Page 19

#nailba38 19 Unlock new levels of success through digital transformation Achieve true straight-through processing with seamless sales experiences In today’s customer-centered world, firms can no longer solve for just one aspect of the insurance sales process. Instead, firms need to expand their definition of straight- through processing (STP) to include the entire sales lifecycle to accelerate efficiencies and growth. Companies that create fully connected processes will enjoy a clear competitive edge in the coming years. Here is what carriers and distributors should focus on to achieve true STP: Leverage product-agnostic technology A single, product-agnostic system that can support all lines of business unlocks the ability to quickly and easily sell multiple products. This provides agents one consistent sales process, which is imperative regardless of how many or what kind of products are being sold. Single solution for all sales activities Give agents one place to go to determine product fit, run quotes, illustrate products, send all previous data to an application, process payment collection, ensure in good order, e-sign, and submit to carrier. If everything is in one place, data can flow from one phase to the next without manual re-entry and you can ensure a fully- documented process. Include e-Signature e-Signature gives customers the flexibility they desire, lets agents easily collect all signatures, and helps firms reduce errors. With so many benefits, e-Signature should be built into solutions natively, not an afterthought or an optional add-on. When e-Signature costs extra, adoption rate plummets and paper sneaks back into the process. Flexibility is key Carriers need sales technology that supports their various channels, distribution relationships, and product offerings. Distributors need something that can handle their unique business processes simply and consistently. Firms should look for solutions that support flexible workflows and user experiences to meet their channel or distribution model. Integrate simply Firms need to be able to connect all pieces of the process, prefill data easily, validate data entered, and send it all to downstream systems like a CRM. APIs are the keys to fast and easy integration, driving efficiencies and experiences. Digitally Transform Your Sales Today! Don’t let your sales be conned by your technology solutions. Take back the control and digitally transform your sales processes and experiences with FireLight ® ! • One Platform, Interconnected Sales Activities • Multi-Carrier, All Lines of Business • Built-In and Included e-Signature • Automated Suitability and Compliance Workows • Easy API Integrations • Self-Management Admin Tools www.InsuranceTechnologies.com/NAILBA Pre-Sale Functions • Quoting/Illustration • e-Application • e-Delivery • Post-Sale Services