As you are probably well aware, the contracting process can be a headache and a half! With agents representing multiple carriers at once and approval taking anywhere from one to three weeks, it is very easy to feel overwhelmed. Each company involved holds different expectations, regulations, and timelines. This scenario places a demand on agents. To mitigate some of that overwhelm, we recommend a few things to help you survive contracting and thrive.
Utilize SuranceBay
SuranceBay is a powerful tool that helps you keep track of what carriers you are currently contracting/certifying for and where you stand in the contracting process. You can check the status of any pending contracts by logging on and clicking on the Appointments tab. There, you will be able to see all the carriers you contract with and where you are in the process.
When checking your contracting status with carriers, it is important to pay attention to where your application is. If the most recent application update says at the carrier, you must wait for the carrier to perform the next step in your application process. If you want a more detailed status on your application, you can usually call the carrier’s helpline.
Conversely, if the application says it is at the upline or brokerage (BGA), you are waiting on Empower personnel to review and push the application along. It is important to remember we are always processing contracts for carriers, so we will need some time to get to your appointment request. Transparency is important to us, so our contracting team will send you an email once we complete our side of the process.
If the application says it is waiting for an agency action, then we are waiting for you to complete an action. You will need to be cognizant of the process steps you are responsible for and complete them in a timely manner. Otherwise, the contract may time out and need to be re-done.
Follow Our Contracting Tips
Aside from ensuring you have a working knowledge of SuranceBay, here are a few of our shorthand tips to help you have a smooth and simple contracting process.
- Make sure all of your information is current. As you grow your business, you can expect that your personal information will also change. Verify that you have updated profile information on all of your digital tools so that you get every email and notification without issue.
- Take note of where your emails for contracting are going. The contracting process will have you emailing a lot of different entities at once, including interfacing with Empower staff members. Keep organized and know where your information is going and where you are with each carrier contract.
- Be sure to check the email you signed up with for updates. It is common for agents to juggle multiple business-related inboxes at once. Whatever email address you use to contract with Empower is the one you need to be monitoring closely. Do not let critical messages slip through the cracks!
- Have reasonable expectations for processing times. Once more, the contracting process can take weeks and weeks because of necessary background checks. Keep yourself on alert so that as soon as contracting for a carrier opens up, you can complete the steps for which you are responsible.
- Stay up-to-date with carrier training. Training requirements for each carrier will be different. For instance, some carriers also require face-to-face training. The yearly requirements are released right before the enrollment period begins, so guarantee you know what is expected of you and get any training done quickly.
Ask Us For Help
At Empower Brokerage, we have the resources to help you through the contracting process with ease. Please do not hesitate to reach out to our contracting team (via phone or email correspondence) for any questions or concerns.
Please note that we have a product specialist for each carrier Empower works with. When you call or email in, give as much information as possible upfront so that our staff can efficiently direct you to the specialists and tools you need. Also, if you leave a voicemail, please give us 24 hours to return your call.
Are you not contracted with Empower yet? No problem. We offer specialized agent training through our free licensing class, educational webinars, live meetings, one-on-one specialist mentorship, Lead Maximizer data mining system, online comparative rating engines, and our generous leads co-op program. Because of all we offer, we are quickly becoming the most hands-on FMO in the country. We would love to have you join the Empower family!
Want to get contracted?
Agents
We hope that this information on Empower Brokerage’s contracting process has been useful to you.
Empower Brokerage is dedicated to helping you make informed decisions about your career, health, and finances. Whether it’s through webinar training, one-on-one calls, seminars, or marketing plans, we want you to be successful!
Give us a call at 888-539-1633 or leave a comment below if you have any questions.
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This article was updated on 9/10/2024.
