This article explains the Producer Contract Review process for producers which is now also supported on smartphones & tablets!
Once the request has been received from their agency, producers must complete the following steps to review, sign, and submit the contract request:
- Request Review Email
- Step 1: Welcome
- Step 2: Training
- Step 3: Errors & Omissions
- Step 4: Carrier Questions
- Step 5: Questionnaire
- Step 6: Review & Sign
Request Review Email
Once an agency worker sends a Request Review to a producer they will receive an email with a link to the request. In the following example, a United of Omaha new contract request review was sent by the agency to the producer Brian Smith to be reviewed and signed. The producer must click on the secure link to login and start the request review process.
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Producers MUST enter the last 6 digits of their SSN & their DOB to securely login where they can review and then approve the request.
Agency or affiliation contact information is shown to the right in case producers have any questions regarding the new contract request review process. The choice of which contact information to display is governed by the agency's settings.
Step 1: Welcome
The welcome step provides an introduction to the request received by the producer from their agency. The information shown here should be reviewed by the producer before moving on to the next step.
- Top bar – Persistent throughout the review process. Shows the carrier selection, request type, product(s) and state(s) selected by the agency for the request.
- Progress bar - Shows the producer which step they are on within the request review process (not visible on mobile devices).
- Next button - After reviewing the information shown on the welcome screen producers will click "NEXT" to move on to the next step.
For clarification it's important the producer reviews the definition of what each of the colored notices mean before moving on to the next step.
- Red notices indicate what is required in order to continue with the request
- Yellow notices indicate that the carrier may require additional information, but the request may be submitted without changes.
- Green notices indicate when the request may be submitted without changes.
- Blue notices provide general information.
MOBILE / TABLET VIEW
Step 2: Training
The training step provides the following sections that show which training courses the producer has completed related to the contract request based on the carrier, product(s) and state(s) selected. Each section may be expanded by clicking the arrow wherever it appears.
- Training Concierge – This section makes it easy for producers to import their completed training courses directly from the course providers' websites. Producers must give SuranceBay permission to retrieve their information on their behalf. User id and password must be provided so that the SureLC application can monitor and automatically import their training info. The credentials are encrypted and securely stored for the sole purpose of importing course completion details.
- Anti-Money Laundering (AML) Requirements – This section shows whether the AML requirement for the contract request has been met, if applicable. AML course information and certification can be manually added to this section as needed.
- FINRA - This section will only appear when a Variable product type has been selected. FINRA registration is required to sell variable products.
- Best Interest - This section will only appear when states that require Best Interest training for annuity products are selected (such as NY). Best interest is the name of the required training course to obtain NY 187 certification. If this requirement has not been met, producers can click the "Add Training" button to upload a copy of their NY 187 certificate.
- Annuity State - This section will only appear when an Annuity product type has been selected. It includes state annuity product training information that is automatically imported from various providers including Sircon, SBS (State-Based Systems), and individual state web sites. Click on each state to view its specific product training rules and status. Reciprocity rules are reflected where applicable.
- LTC State - This section will only appear when the Long-Term Care product type has been selected. It includes state LTC product training information that is automatically imported from various providers including Sircon, SBS (State-Based Systems), and individual state web sites. Click on each state to view its specific product training rules and status. Reciprocity rules are reflected where applicable.
Step 3: Errors & Omissions
This step shows the current Errors & Omissions coverage information from the producer's SureLC profile.
Producers can click on the PDF icon to view the E&O policy certificate (a.k.a the declaration page).
If the producer does not have current E&O coverage in their SureLC profile, they can choose to add an existing E&O policy or purchase new E&O coverage through SuranceBay (if this option is allowed by their agency).
Once uploaded the policy information will be imported automatically. This information should be reviewed for accuracy and any corrections needed should be made BEFORE moving on to the next step.
After reviewing the E&O information and verifying it's correct click "NEXT" to continue.
Step 4: Carrier Questions
This section contains additional carrier-specific questions related to the contract request, based on the product(s), states, and type of contract being requested. Producers must review all questions and provide any required info before clicking NEXT to continue.
Step 5: Questionnaire
This section shows the background questions from the producer's profile that the requested carrier asks on their contracting paperwork. The producer must reconfirm their answers for every contract request. Each question should be reviewed by the producer to make sure their answers are current BEFORE moving on to the next step. When any question is answered "Yes" explanations can be created or uploaded by the producer as necessary.
After answering "Yes" to any question an explanation must be provided. Producers can either:
- Upload an explanation document if they have one, or
- Create an explanation document, or
- Select the appropriate explanation from their existing uploaded documents.
To create an explanation document, enter the reason, explanation, and action taken related to the instance.
Step 6: Review & Sign
On this final step producers will review the forms that have been filled out with their information on their behalf.
Once reviewed, scroll all the way down to the bottom of the page. This will enable the "APPLY MY SIGNATURE" button. Click the button to proceed.
Review the "Apply Your Signature" declaration and click "SIGN" to apply your digital signature to the forms. This will complete the request and submit it to your agency.
After the request has been completed the following confirmation message will be shown. The next step is for the agency who received the approved request to review and process the request and send it to the carrier for processing.
If you have any questions regarding this process please contact SuranceBay technical support by sending an email to email@example.com or by calling 877-264-6888. Thank you!