During a recent webinar, our co-founder and COO, Richard Perrott, and director of partner integrations, Nick Carlson, discussed how ThreeFlow Connect enables even more efficiency in broker and carrier benefits placements. Here we summarize the key points from their conversation and explore how ThreeFlow Connect is an exciting step forward for the benefits industry.
What’s ThreeFlow Connect
ThreeFlow helps carriers and brokers simplify the renewal and RFP process without sacrificing control or relationships with one another. Our team’s market research revealed that over 85% of brokers want more time for strategy-related tasks, while more than 40% of carriers wish to receive more accurate and complete information from brokers when quoting opportunities. These insights highlight manual data entry as a significant point of friction.
We built ThreeFlow Connect to address these very needs. Connect is a suite of integrations for brokers and carriers to further automate their placement workflows, removing manual data entry from their processes. With Connect:
- Brokers can have faster ThreeFlow client setup and accurate post-sale details sent directly to their agency management system (AMS).
- Carriers can pass information directly to and from their rating and quoting systems.
This workflow saves a significant amount of time for everyone involved while ensuring data accuracy.
How it works
With ThreeFlow Connect, many once-manual placement tasks can be automated. Breaking this down into stages of placement:
- Renewals and go to market: new business RFPs and renewal requests automatically flow to the connected carrier’s system, ready for quoting.
- Quote submission: when a quote is ready, it’s automatically sent from the carrier’s system to ThreeFlow.
- Decision and closure: once a decision is made, carriers receive the final sold terms and win-loss details. Brokers also receive the final sold terms in their AMS to capture the post-sale details.
- Implementation: final policy details are automatically sent to the connected carrier’s policy management systems.
- Effective: any errors identified during ThreeFlow’s new policy audit can be corrected and sent to the AMS to ensure accurate data across systems.
A competitive edge
After analyzing over 5,000 RFPs, we found that carriers who submit quotes on or before the due date are 15% more likely to win the business. Connect accelerates the quoting process for carriers and significantly increases the likelihood of submitting timely, accurate quotes to their broker partners.
Easy integrations to get started
Our integration paths are low-effort and implementation-ready, making it easy for you to connect.
- ThreeFlow API: We’ve taken the guesswork out of schemas and data fields, making this easy for your technical team to integrate. Connect quickly without the need to design your own technical solution.
- Salesforce: This is a great place to start for brokers and carriers that use Salesforce as an AMS or CMS. This plug-and-play integration provides low-effort automation to eliminate redundancies between systems.
ThreeFlow is connected with over a dozen carriers. Stay up to date here.
Integrations are becoming table stakes in benefits placement. In fact, over 60% of our certified carriers are actively pursuing a Connect integration. If you’re not in the 60%, now is a great time to talk.
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