This information attempts to address those concerns and explain why it makes sense for your company to participate in the iiX Underwriting Services POS program. To get reimbursed, agents will submit a list of MVRs ordered on its submitted applications.
Most companies agree that there is significant effort associated with managing that process.
Then, the company must determine if the particular agent qualifies for reimbursement and verify the individual reports requested for reimbursement. This process is repeated time and again as requests dribble in from numerous agents. Should the process stall along the way due to mishandling of paper, further correspondence ensues with the agent who follows up on his reimbursement request. Our stats indicate that the average retail agent orders 11 MVRs per month. If the company reimburses at the full agent rate, unnecessary costs are incurred.