Renewing Agent’s Appointments
Data modeling to optimize insurers investment in renewing Agent’s appointments
Many diversified insurers rely on negotiated selling agreements with broker--dealer firms and banks to sell their product lineups. In fact, roughly 92 percent of life and protection products are sold through third--party distribution arrangements. How are the insurers making sure that they’re aligning their wholesaling field organizations to the right opportunities? Many insurers still see the business of wholesaling as an art, not a science, but xtLytics is introducing quantitative methods into qualitative sales practices. Insurers can apply these analytic initiatives at all levels of the distribution chain, from the external and internal wholesaling organizations to the producers. This Analytic tool enables carriers to bring more profitable producers to the filed organization and ensures that wholesalers were spending time with the producers that would bring the most value to the insurer.