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Nothing will change unless we all work together. That is the driving force behind AUGIE Group, a non-profit organization that supports the discussion and implementation of technology to improve the efficiency of the independent agent and broker distribution channel. AUGIE brings together agents, brokers, carriers, MGA/Wholesales, solution providers, association representatives and others to share ideas, anticipate market needs and influence change. Groups can come together regardless of their associations, user groups and other affiliations.
AUGIE Group listens to independent agents and identifies key pain points that, if solved, could significantly improve agency operations. It then brings carriers and solution providers into the discussion, connecting the groups and fueling the conversation on how to bring about change.
The Need for Agribusiness Download
One pain point that AUGIE Group is working to solve right now is agribusiness download. Agribusiness standards and forms have been around for a number of years, but there hasn’t been a significant focus putting it all together in download. Many carriers offer agribusiness in their commercial lines packages. But this is inefficient as it doesn’t include all of the documents and everything else the agent needs to service their customers. For example, most agribusiness policies involve commercial and personal policies, so agents have to develop workarounds if agribusiness download is only available as part of a commercial lines package.
The need for agribusiness download is real. A lot of agribusiness policies are not for large corporate farms, but small family farms that need coverage. These small accounts have a great need to expedite the insurance process and make agribusiness a valuable product for agents to sell. These policies require a lot of data. If agents need to spend a lot of time to service a single policy, it can become unprofitable to sell, which leaves these smaller farms with limited places they can turn to.
Having true agribusiness download will enable agents to efficiently capture the personal and commercial lines aspects that are involved in an agribusiness policy. It can limit errors and omissions (E&O) exposures by reducing the risk of human error since data is downloaded directly into the form. Agents have more time to spend with their clients. Additionally, there is less room for interpretation as the download will put the coverage information on the correct contract rather than where it is convenient for the agent.
AUGIE Group’s Working Group
AUGIE Group has developed a working group for agribusiness download that includes agents, carriers and system providers. This group is developing a two-fold strategy to make this capability a reality. Part one is convincing agency management system providers and carriers to add this capability. Part two shifts the focus to the agents persuading them to adjust their workflows and utilize agribusiness download once it becomes available.
As a result of AUGIE’s efforts, the needle is beginning to move. Some agency management systems are preparing to incorporate this feature when carriers get onboarded. A few carriers are already offering it. AUGIE wants to continue the momentum. As a next step, AUGIE is holding discussions with agency management systems providers and carriers to get their perspectives, understand what might be holding them back and see if there are ways to overcome these challenges.
Get Updates on Agribusiness Download
This is just one area that AUGIE Group is looking to solve. The organization also has working groups dedicated to solving challenges with contracts and codes, provisioning and credentialling, two-way communication and submission ID and tracking. To learn more about AUGIE Group and get updates on agribusiness download its other key initiatives visit www.augiegroup.org.
