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IN FORCE INNOVATIONIn Force Data Partner Program
www.meetnic.com | info@ins-connect.comPage 2INCREASED CUSTOMER SATISFACTIONHUNDREDS OF THOUSANDS IN ANNUAL COST SAVINGSMINIMAL IMPACT ON CARRIER RESOURCESSECURE SOLUTION = RISK REDUCTIONALLIGNS WITH CARRIER PLATFORM STRATEGYCARRIER RESOURCE OPPORTUNITY COST SAVINGSIMMEDIATE TIME TO MARKETDOWNLOAD IN FORCE POLICY SERVICES TO DISTRIBUTIONIN FORCE DATA PLATFORM for the LIFE INSURANCE INDUSTRYEmpower your distribution with easy access to in force information
www.meetnic.com | info@ins-connect.comPage 3WHY A SHARED PLATFORM Distributors and Agents demand access to in force data, no longer a ‘nice to have’ but now table stakes. Carriers are using critical resources to support this growing demand that could result in hundreds of individual data feed requests. A partnership with NIC not only saves money, but also saves time, effort, and frees up technical resources. Resources can now focus on strategic, revenue producing initiatives while delivering ‘best-of-breed’ in force data to the marketplace. CARRIER CHALLENGES Supporting hundreds of individual requests for in force data feeds Security risk associates with a Distributor’s lack of secure infrastructure Support costs due to the lack of distributor technology sophistication Opportunity costs resulting from allocating technical resources away from strategic and revenue producing technology initiativesIN FORCE DATA PROGRAM Established platform with existing in force Carrier feeds and hundreds of thousands of Agents Secure, Carrier approved protocols and infrastructure for transferring and storing in force data Modern, easy to use, secure interface to access data APIs and batch feeds to support distributors of all sizes Provides actionable data for Carriers, Distributors, and Agents to grow sales
www.meetnic.com | info@ins-connect.comPage 4IN FORCE DATA PARTNER PROGRAM SAVINGS Cost Savings: approx. $1,500,000 over the next 3 years Opportunity Cost Savings: 1,285 person days (this time can now be redeployed on strategic, revenue producing activities) Carrier ‘Do It Yourself’Inforce Data Feed CostsData feed tasks & costs per Distributor• Distributor engagement costs; $1,250• One-time data feed costs; $4,150• Annual maintenance costs; $950Cost per Distributor (3 years)• Total One-time; $5,400• Annual; $950 Carrier Distribution Partners• 200Carrier 3 Year Costs• $1,650,000NIC’s Inforce Data Partner Program enables Carriers to share their in force life and annuity data with their Distributor and Agent partners through a secure, controlled environment.Carriers provide NIC with a single, secure data feed and NIC enables controlled access for all downline BGAs, GAs, Firms and Agent partners.Carriers can access the in force book for all Distributor and Agent partners through the NIC Carrier App.
www.meetnic.com | info@ins-connect.comPage 5 25 years in the Insurtech industry Partnered with the majority of large IMOs & BGAs Over 500,000 independent Agents/Producers 40+ Life Carrier feeds (direct, daily feeds) SOC2 Type 2 Industry fundedRick Hyderick.hyde@ins-connect.com416.727.6066www.meetnic.com