Agent's Guide to working with us

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At Ibiliti, our allegiance to the goals of Professional Insurance Advisors is reflected in our concurrent operations, elevated understanding and collaborative approach.

Simplify Your Workflow

Commission Protocol

  • Swift commission payment for collected premiums within the same month.
  • Invoicing, processing, and scheduling commission payments for the 20th of each month, with statements dispatched by the 25th.
  • Commission calculations are based on invoiced amounts, with adjustments made for credit amendments in the subsequent month.
  • Implementation of measures for version management to maintain standards and syncing financial transactions to policy schedules.

Statement and Account Management

  • Easy access to commission statements via our policy management system for convenience.
  • Timely notifications and proactive procedures in place for unpaid premiums and debit order issues to maintain the integrity of policies.

Coverage initiation and Policy processing

  • Coverage begins upon online acceptance after meeting subjectivity requirements.
  • Cover is temporarily held pending finalisation of premiums, requiring written confirmation from authorised representatives.
  • Pro rata adjustments are processed together with new premiums to facilitate a seamless policy implementation process.

Policy Acceptance Responsibilities

  • Verify that the insured has completed and signed all essential documentation.
  • Submit timely policy documentation to Ibiliti promptly for new policies.
  • Maintain accurate records of insured-requested changes or cancellations in accordance with the FAIS Act General Code of Conduct.

Premium Invoicing and Recovery

  • Premiums are invoiced upfront with payment due within the same month.
  • If a policy is cancelled due to non-payment, commission amounts will be recovered from the Agency. Emphasis is placed on financial responsibility and transparency.

Quotation Process

  • Submit quotations meeting minimum criteria to the underwriting department via our online system or email.
  • Provide comprehensive risk descriptions, policy numbers, insured details, loss history, and relevant documentation to facilitate accurate quoting.
  • Quotations are valid for 30 days, subject to Ibiliti Policy Wording terms and conditions.

Standard Terms and Conditions for Business Acceptance

At Ibiliti, our unwavering dedication to excellence shines through in the following standard terms and conditions for business acceptance.

Quotations hold validity for 30 days from the issuance date, aligning with the Ibiliti Policy Wording to ensure crystal-clear comprehension.
Full acceptance of the entire quotation is mandatory to uphold the integrity of the terms. Any changes may necessitate a revision of the agreed-upon terms.
The default application of the Condition of Average guarantees equitable coverage across policies unless specified otherwise.
Mandatory burglar alarm installation is required for Theft Cover across various sections, including Office Contents, Money, Business All Risks, Electronic Equipment, and Householders, to bolster security measures.
Complete disclosure of material information and claims history is essential before quotation approval, enabling thorough risk assessment and tailored coverage.
The emergence of claims history post-acceptance may lead to adjustments in terms, conditions, and rates, emphasising transparent communication and equitable resolutions with the insured.
Upon quotation approval, final terms and conditions are promptly furnished for immediate acceptance unless additional information or survey requirements are specified, showcasing our efficiency and clear communication commitment.
Acceptance of risk hinges on detailed information clarification, validation of claims history, surveys, and facultative reinsurance confirmations, underscoring our dedication to robust risk assessment and client safeguarding.
Our terms are subject to a survey and a satisfactory report when necessary for the policy, illustrating our proactive approach to implementing risk management measures for optimal policy outcomes.

By embracing these comprehensive standard terms and conditions, Ibiliti ensures a principled business acceptance process, cultivating trust, reliability, and client-centric solutions in alignment with our brand’s ethos.

Enhance Your Client Service

New Business Acceptance Process

At Ibiliti, we ensure a smooth and transparent process for accepting new business risks:

Coverage Provision

Quotation Acceptance

Coverage is activated upon acceptance of the quotation on our policy administration system, provided that all subjectivities and requirements are met.

Temporary Cover

In exceptional circumstances, cover can be temporarily held with written confirmation from our authorised representatives during the finalisation of premiums.

Pro Rata Adjustments

Payment Adjustments

Pro rata debits or credits are processed alongside the new premium on the subsequent payment date unless other arrangements have been mutually agreed upon.

Emergency Situations

Cover Extension

Coverage is extended solely in emergency situations, and written confirmation from our representatives is essential for policy inclusion, showcasing our dedication to prudent risk management practices.

Responsibilities Upon Acceptance

Guided Completion

Insured individuals are directed to complete and sign essential documents, such as quotations, declarations, debit order authority forms, and Agency agreements.

Digital Acknowledgment

By electronically acknowledging the disclaimer, the insured fulfils their outlined responsibilities as received in the automatic email.

Key Responsibilities

Submitting all requested documentation to Ibiliti before policy inception.
Promptly notify Ibiliti of any changes or cancellations requested by the insured.
Maintaining records of all relevant documentation for inspection as per regulatory requirements.
Ensuring timely delivery of all policy documents to the insured within 30 days of acceptance.
Adhering to the General Code of Conduct stipulated by the FAIS Act.

Through these meticulously outlined procedures and guidelines, Ibiliti ensures a high standard of abidance, efficiency, and professionalism in the acceptance of new business risks. Advisors partnering with Ibiliti can anticipate a meticulous and efficient workflow, underpinned by transparency, accuracy, and strict adherence to insurance regulations for a seamless and mutually beneficial alliance.

Secure Seamless Business Operations

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