Wednesday, March 30, 2016

Utilizing Your Ann Arbor Annuity Exchange New Business Team

By AAAE New Business Department
Meghan Eiler, New Business Coordinator
Jennifer Potter, New Business Coordinator

We are here for you! The New Business team at Ann Arbor Annuity Exchange, that is, and we want you to know how you can utilize us now and in the future! Nowadays there are plenty of options when submitting your new business. One insurance carrier may accept faxes, while another insurance carrier requires originals be mailed in. Some allow uploading or emailing of applications, and there are even carriers that have fully executable online application processing!

There are common challenges that may arise during the new business review process at the carrier, regardless of what method is used for submission. As your field marketing organization (FMO) for your fixed insurance business, we consider it our responsibility to assist you no matter how you submit your business. Below are some of those potential challenges and ways we can help.

Everybody has a hold time!

We know that everybody, at one time or another, has waited on hold with a carrier for what could be considered a ridiculous amount of time. Let us do it! In some cases we may have a more direct line to a new business representative or other means of contacting home office personnel, but even if we don’t, we’ll wait on hold for you! Through our follow-up system we track status and keep up-to-date notes on pending cases that have come through our office. In many cases we will already have the information you are seeking in our system and can provide it to you without time on hold or bouncing around a carrier’s phone queue.

All carriers do things differently!

Whether it is differences in the process of receiving and reviewing new applications or in the setup of department responsibilities, no two carriers seem to be exactly alike when it comes to their new business departments. When you call into a carrier and ask for new business, you may assume that you will eventually be connected to a representative that has actually been part of the process of entering and reviewing your application. This is very often not the case! With some carriers, their new business department is just their customer service department. A “customer service” representative usually means that they are part of a call center and may only have access to view notes from their system posted by the actual reviewers. They may not have any more information than what is notated in front of them and often may not answer questions regarding that carrier’s processing procedures or timeframes.

While one carrier’s new business department may incorporate suitability review, agent/FMO communication, and transfers all in one process, another carrier may consider each form (application, suitability, transfer) a separate part and therefore each part is reviewed by a different individual. When you call in for a status update on your case, you do not want to have to first decipher if you are speaking to the appropriate person or department. You do not want to have to repeat yourself to multiple people while being redirected to other areas. You want the most efficient and effective way to gather information and obtain updates as soon as possible, and that is where we can help!

We can help simplify your experience!

You are assigned to a specific AAAE New Business contact to work with for all business written through our FMO, regardless of the carrier, regardless of the submission method. Your new business coordinator at AAAE is your liaison, your second pair of eyes on an application, your single point of contact, your follow up specialist, your requirement clarifier, your dedicated customer service representative. We are available and armed with the patience, experience, knowledge, and resources to help you accomplish our mutual goal of getting your new business submitted, processed, issued, and paid!

It’s never too late!

We understand that there are many agents that always have and always will submit their cases directly to the carrier for various reasons. Now with the availability of e-applications like ApplyNOW from Allianz Life Insurance Company of North America, an annuity contract can be applied for and automatically submitted to the carrier through a secure online system. We think this technology is awesome and of great benefit to both your practice and the value you provide to clients. You may think that choosing this route excludes you from using your new business representative at AAAE, but we’re here to tell you that’s definitely not the case! We still have access to support and follow-up on e-app business. Electronic submissions, or direct faxes, or hard copies mailed direct to the carriers – you face the same challenges: the hold times, the phone queue confusion, and the deciphering of requirements. If you provide AAAE’s New Business Department with copies and information on a case submitted direct or via e-app, then we can still follow up, gather information, and report the status to you.

These are just some of the perks of submitting business through us and utilizing the AAAE New Business team and our resources. We want you to be fully aware of the dedicated, knowledgeable resource you have who is just a phone call away! The AAAE New Business team consists of Meghan Eiler and Jennifer Potter, who have both been in their roles as new business coordinators for more than nine years each. Both new business coordinators have extensive experience working with each carrier we are contracted with and with agents nationwide. The AAAE New Business team is here to help!

Meghan Eiler | New Business Coordinator
Ann Arbor Annuity Exchange
Ph: 800.321.3924 x156 | Dir: 734.786.6156

Jennifer Potter | New Business Coordinator
Ann Arbor Annuity Exchange
Ph: 800.321.3924 x135 | Dir: 734.786.6135

Designed for Financial Professionals.