How we calculate time savings

Agency Onboarding

We estimate the average agency onboarding to take 2.5 hours, not including any context switching on tasks, which may 1.5x-2x the actual time estimated here. This includes: (1) prepping forms and documents to go out; (2) tracking and following up on pending onboarding's; (3) reviewing documents such as PDF's of licenses or E&O and Cyber documentation and then following up for corrected or additional documentation; and (4) organizing and storing documentation.

Agent Onboarding

We estimate the average agent onboarding for each new agency to take 10 minutes. This number can vary widely dependent upon if there is one state license to review for the agent or 40+ state licenses to review.

Document Processing

For the purpose of our estimates, we only count documents we process outside of a new agency onboarding. These can include updates of E&O and Cyber documents, E&S filings, or updated contractual terms. On average, we assume a time savings of 20 minutes for each document processed, which includes the request for the document, follow-up request, review and further follow-up, and organization and storage of the document. Please contact us if you'd like more specifics.

Time Saved Ensuring Full Compliance

When connected to your PAS via our API, the Turris platform can automatically check the license status of your distribution partners in real-time when a policy is bound, renews, has a mid-term adjustment, or when a commission is paid. By statute, it is a carriers responsibility (or their MGA's responsibility) to ensure the licensed status of a distribution partner at each of these events. We assume 5 minutes to manually check this status if you're not using our API (this is the time we use in our cost savings calculations). We also assume each agency would need 10 license checks per month. If you're not using our platform, this is closer to 20 minutes and cannot be done in real-time without an ongoing data expense.

API Calls

Time You Saved Your Agencies

We estimate an average time savings of 2.5 hours saved by our agency partners. This estimate can vary widely depending on the number of agents the agency is onboarding, the number of states in which they are collectively licensed, and how well organized the agency is. More importantly, we know the time to become onboarded is dramatically less than the industry average, which right now stands at just under 10 business days! Once an agency starts the process with us, they can onboard in as little as 10 minutes!

*** If you feel like these numbers are off based on your experience, please do reach out so we can learn more and make adjustments if necessary.