e&o_mgmtManaging your agency’s E & O compliance is a crucial part of maintaining your agency’s reputation and legality, and something to which you should commit a great deal of time and effort. However, it can be difficult to keep track of all the details related to E & O management. One way to ensure your agency is staying on top of error and omission compliance is through employing a variety of tools related to E & O processes. Such tools can help you stay compliant, and provide effective means to check and double check your procedures and processes.

Tools for E & O Management

  • An E & O checklist is a great, oft overlooked, tool to ensure you’ve hit all the right points. It’s helpful to break checklists out by specific processes such as risk analysis and commercial and personal line coverage
  • Frequent reviews of your agency’s E & O practices will help you stay up to date on the latest rules and regulations, helping you ensure your agency is in compliance. Reviews can happen monthly or annually, and should involve multiple perspectives within you staff
  • Paperless workflow, whether through cloud apps or your agency management system, reduces the likelihood of misplacing documents containing essential information. Additionally, by going paperless you can see all documents related to one client or policy in one place, making it easier to review for accuracy
  • Mobile access to your agency management system and other document storage systems allows you to update information in the moment, making it less likely to forget to add or change important details. Such all-time access makes it easier for you to review data at any moment to ensure accuracy and correct any missteps immediately

Both mobile access and paperless workflow should be part of your agency’s management system, and you can find ideas for checklists and reviews through connecting with other agencies. Our Partner XE user group, PartnerNet, is an excellent resource for Partner XE users searching for tips to stay E & O compliant.

You can find out more about Partner XE, PartnerNet and the other great resources SIS has to offer by contacting us today at sales@sisware.com

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