Also, with Accelewriting®, the eApp cannot be submitted if it is missing information; which helps eliminate omissions and errors and speeding up the whole process.
PeS: Well, we spoke about busy clients but we also know that agents tend to work and sell almost any hour of the day, how can Accelewriting® help in these cases?
SS: The beauty of Accelewriting® is that agents can process business 24/7 so they can write business anytime of the day or night, weekends and even holidays.
Essentially, they have the best underwriter, on his best day, who is always awake to take their eApp.
PeS: In your experience, for agents that don’t already use Accelewriting®, what can be their hesitation when exploring this as an option?
SS: Typically, it’s simply a hesitation of learning something new, which is easy to address. Once an agent overcomes that small hurdle they really love using Accelewriting® and realize what a great tool it is. Because it’s so easy to use, it generally takes about 2 to 3 eApps to get the full understanding of how the process works. There aren’t many new things we learn every day that have such a short learning curve.
Sagicor offers webinar training on Accelewriting® and has a dedicated Producer’s Resource Center with a helpful, knowledgeable staff that can assist should the agent ever get stuck.
PeS: What about agents who already use an eApp, such as iGo, or others that are on the market?
SS: Here’s the difference, and it’s a big one. When you press submit on an ordinary eApp, all you typically get is a pop-up that says “Thanks for submitting your application!” However, Accelewriting® goes beyond that by taking the information that was submitted and pulling from multiple databases – including MIB, MBR, and more – to provide an immediate underwriting decision.
We don’t use the sterile “Yes or No” model that is the industry standard and that makes it hard to get approvals using eApps. Sagicor has 5 risk classes as well as drill down questions that help guarantee our decisions are as fair as possible.
With Accelewriting®, there is minimal data entry – the agent is basically checking a box or selecting from a drop down menu.
Finally, there is a safety measure to prevent unwarranted declines in which an application is referred to a live underwriter. This takes a bit longer for a decision, but it’s better than having your client’s application turned down!
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