AgentSync, a leader in insurance distribution channel management (DCM) software, today announced AgentSync Contracting, a groundbreaking solution designed to fully automate the critical contracting stage of insurance agent onboarding. With the introduction of Contracting, AgentSync provides an end-to-end platform that seamlessly connects distributors and underwriters, accelerating the ready-to-sell process for agents and their distribution partners, from carriers to managing general agencies (MGAs), managing general underwriters (MGUs), field marketing organizations (FMOs), insurance marketing organizations (IMOs), and everyone in between.
AgentSync Contracting addresses longstanding industry challenges by eliminating manual processes, reducing administrative burdens, and minimizing errors common in traditional contracting workflows. Contracting complements AgentSync’s existing APIs, which enable carriers to effortlessly accept and process contract requests from a variety of submission sources, in a standardized format. This flexibility positions AgentSync as the modern infrastructure upon which distribution networks can reliably and efficiently operate.
“Contracting was our ‘last mile’ in achieving complete automation of the distributor-to-underwriter workflow, which has always been our North Star,” said CEOÂ Niji Sabharwal. “With this release, we’re establishing AgentSync as the definitive system of record for agent onboarding and contracting in the insurance industry.”
Initially designed for the life and health insurance sectors, Contracting rapidly expanded its capabilities to serve property and casualty (P&C) agencies. Contracting now caters equally well to small agencies with as few as five agents as it does to large-scale FMOs and IMOs managing upward of 50,000 agents.
Contracting is also seamlessly integrated with AgentSync’s Manage product, creating an end-to-end producer onboarding workflow automated through to appointment. Enhanced by robust security measures, including single sign-on (SSO) backed by Okta, Contracting ensures compliance, security, and ease of use for all users.
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Since its inception in 2018, AgentSync has secured $161 million in funding from prominent investors, including Craft Ventures, Valor Equity Partners, Salesforce founder Marc Benioff, renowned entrepreneur Elad Gil, and Caffeinated Capital. This significant financial backing has enabled AgentSync to invest heavily in research and development, delivering cutting-edge technology solutions tailored specifically for the complex needs of the insurance industry.
AgentSync Contracting is fully operational and, with multiple early access customers already using the product, this marks a significant milestone in the company’s mission to transform and modernize insurance distribution.
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