Applications
ACORDS are very essential in processing insurances in the United States. These are standardized forms that give a summary or quick view of the important information of a policy.
It is important to be familiar with these ACORDS and be able to complete them accurately. These documents are usually used for binding policies. Make sure you know which specific Acord is applicable to the Business you are processing
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Training Link for Acords - https://meet.google.com/qjf-rnof-bto
Commercial Lines
Personal Lines
Follow the video above to get to Applications! This is where you will get started. Then follow the steps below:
Generate and Submit Apps
Info in Description Boxes
Rating Board & Select Quote
Binding Requirements
Requesting Approval
Broker Approval
Client Approval
SMALL ACCOUNTS
A) If renewing AS IS we do not need any additional signatures other than the POLICY DELIVERY procedure and Certificates
B) If New Carrier we Docusign the client with all Binding Paperwork and always CALL THEM to explain the switch.
C) When u call You must always say “John asked me to give you a call you that the renewal we are switching to another company XXXX. PLEASE NOTE ONLY LICENSED individuals can offer advice but u can say the above as long as u don’t go over coverages
WE ALWAYS NEED TO ENSURE BILLING IS BEING PROCESSED AND PREFERABLY SET ON ACH/EFT
MEDIUM ACCOUNTS
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If renewing AS IS we DOCUSIGN the client and follow up with a PHONE CALL to explain the docusign.
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If New Carrier we Docusign the client with all Binding Paperwork and CALL THEM to explain
WE ALWAYS NEED TO ENSURE BILLING IS BEING PROCESSED AND PREFERABLY SET ON ACH/EFT
LARGE ACCOUNTS
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DOCUSIGN binding requirements and ALWAYS INVOLVE THE BROKER to do the call to the client.
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Essentially, the Broker is involved throughout the process
​WE ALWAYS NEED TO ENSURE BILLING IS BEING PROCESSED AND PREFERABLY SET ON ACH/EFT
*It is important to remember that when going to fill out other tabs, you select the correct policy in "submit apps"*
Handling Re-Issued Policies- In Portal
If there is a case where a policy has been cancelled and reissued please follow the below steps:
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DO NOT replace the cancelled policy
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First, archive it
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Then, create a NEW product
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Enter the new policy #, effective date, limits & billing as if you are renewing/binding in the portal
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Then upload the new policy, and finally you can contract it
This will help the accounting side, ensuring the appropriate commission on each policy