Personal Insurance - Travelers
Note:
• These procedures replace any previous Personal Insurance Financial Statement Reviews procedures including procedures dated February 7, 2005 issued by Neal Montgomery (as applicable to Personal Insurance), Field Management regarding New Agency Appointments – Agency Financial Statements.
• Financial Reviews are not required for appointments of Personal Insurance Agents. Regional Finance Officers will receive a copy of the Agent’s application from Agency Administration for his/her information.
• Once the Agent submits the application to Agency Administration, the appointment (contracting) process will not stop unless Agency Administration is contacted by the PI Sales Staff
• There will be periodic monitoring of these procedures to ensure compliance. It is expected that information about this monitoring will be communicated in the second quarter 2008.
• These procedures will be posted to the Field Sales Resource Center by June 15, 2008.
• It is strongly encouraged to check with PI Sales Operations, if you have a question regarding the steps of another department (e.g Agency Administration). Information will be obtained directly from that department to ensure that the most current information is obtained in order to respond to your inquiry.
These procedures are written with the understanding that it is Personal Insurance management’s position that these individuals, as designated by their roles, have the appropriate level of knowledge, and/or supervision necessary to perform their responsibilities in the new agency appointment process. Therefore, it is PI management’s expectations that the individuals specified will exercise their judgment to evaluate information and/or to make decisions regarding their responsibilities for the appointment process.
Procedures
An Agency is identified to be appointed (contracted) with Travelers.
1. Sales Executive/Recruiter (SE) fills out the InfoPath form after having discussions with the Agency. The SE is strongly encouraged to fill out the form completely.
2. The InfoPath form is emailed to the Regional Sales Director (RSD) for review to ensure that in the RSD’s judgment that the agent should be contracted with Travelers.
3. If the RSD approves the agency for appointment, he/she forwards the SE’s email to the “Netappoint Request” mailbox.
4. This will notify Agency Administration and MI Operations in PI Strategic Planning & Analysis of the approved Agency. The approved InfoPath forms and the related emails are retained by MI Operations.
5. An email will be sent to the agent with the agency application.
6. Agent replies to the email with the submitted agency application.
7. Agency Administration emails the Agent’s submitted application to the Regional Finance Officer for his/her information.
It is important to note, if at any time the PI Sales Organization wants to terminate the appointment process for the agency, they must send an email to Agency Administration with a copy to Stacey Eldridge, PI Sales Operations. Beverly Gilman is Stacey Eldridge’s back-up.
8. Agency Administration will review the results of the Agent’s background check to ensure it is clear, and if clear, they will proceed with contracting and licensing the agency.
9. If the background investigation is not clear, please refer to the Background Investigator’s procedures maintained by Sharon Hurley, Agency Administration.
Background Check - Summary:
If the principal/producer fails the background check, all communications will be handled by Agency Administration (contact Sharon Hurley, Agency Administration for procedures). This communication will include the Regional Sales Director. The Agent can appeal, if the Regional Sales Director will sponsor the appeal. The appeal process is handled by the Chief Compliance Officer’s office, who will communicate directly with the Regional Sales Director and Agent. Appeal Process procedures are handled by the Office of the Chief Compliance Officer.
Appointments due to Sale of an Agency
Sale or purchase of an agency – may result in an appointment of an agency. Standard agency appointment procedures should be followed.
Appointment of Agency already Appointed by Another Business Unit of Travelers
Standard procedures for new appointments should be followed when an agent is being considered for appointment with Personal Insurance, but is already appointed with Travelers.
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