Agent/Broker Training

Manage Training & Compliance for Independent Agents

Independent agents are most commonly found in the financial, insurance and real estate sectors. When selling within these sectors, products are usually highly complex and highly regulated. These factors alone require the need for a highly knowledgeable individual to sell it - making this distribution model extremely attractive for certifiable formal training and the need to use a learning management system that can handle the complexities that come along with it.

Below are some of those major complexities, and how LatitudeLearning addresses the challenge ensuring certain aspects of your training program are not compromised.

My Unique Business Model

There is a certain way in which your organization conducts business that's different from your competition. A certain way you engage your agents/brokers which is dependent upon your unique business model.

How can you ensure that doesn't get lost when implementing an LMS?

LatitudeLearning Solution:
LatitudeLearning's Feature Management Architecture enables Latitude to completely customize the user interface and underlying processes to your exact specifications. This enables Latitude to support unique training processes and workflows.

Owners With Multiple Units

Organizations in the financial, insurance and real estate sectors must be able to accommodate owners that own multiple units and allow them to manage training across all their units.

LatitudeLearning Solution:
LatitudeLearning allows owners to have one account with multiple profiles in multiple units.

Thus multi-unit owners can manage a consolidated view of their locations with seamless access without having to log into multiple environments with multiple login IDs.

Different Field Organizations That Support Different Product Lines

Depending on how complex your organization's products are, you may have different field organizations (or office locations) that support different product lines.

How will my complex workflows fit into an LMS?

LatitudeLearning Solution:
LatitudeLearning allows for multiple field organizations (i.e. sales and training) and allows each field organization to have its own organizational structure.

For example, in the insurance sector most firms sell several insurance products including auto, life, and property insurance. It is very common for each product to have it's own specialized agents responsible for the sale and knowledge of each. This type of process calls for support by multiple field organizations.

User Management

Managing agent access to the training system is complicated because they are independent.

The organization rarely knows who the broker has hired, what their position is and how much training they need.

LatitudeLearning Solution:
LatitudeLearning meets this challenge by allowing agents to request access to the learning management system. The access request includes the employee's position and the broker location they work at. The appropriate training coordinator is notified of the access request, in which they can approve, deny or change the request.

The parent organization can control the overall process by setting limits on the number of users a given broker can house and by automatically deactivating employees after a set number of days.

Ensuring Training is Completed

High compliance costs are associated with products that are complicated and highly regulated, so it's important to the organization that training is completed. But with the absence of management command and control how can you insure that agents take the training, know your product, and know how to comply within regulation?

LatitudeLearning Solution:
LatitudeLearning offers performance based certification.

Performance based certification training is a very powerful tool when dealing with this type of distribution model. The learning (or training) side of performance based certification insures all agents meet the minimal level of knowledge required to sell your products. The performance metrics side is used to reveal whether or not agents are performing to your standards. For the insurance sector, strong metrics may include things like policies sold, types of policies sold, and retention rates. This type of training will allow your organization to differentiate from the agent that has successfully completed training, sells a lot of policies, and has a very high retention rate from the agent that has also successfully completed training but sells very little policies and has a lower retention rate.

Other performance metrics can include things like complaints and violations in regards to regulation. Using this data coupled with incentivizing is a very powerful tool in terms of managing the agent's performance and quality.

LatitudeLearning is a top rated learning platform built to meet the unique needs of managing agent/broker training programs.

Training agents will result in an increase in sales volume, closing rates and average purchase size.

Ready to give your training program the platform it deserves?

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