What is the difference between Onboarding and Contracting?
- Onboarding is the process of getting the agent set up on APEXA and the Carte Risk Management Inc back office systems
- Contracting is the process of requesting and getting approved for carrier contracts and travel insurance contracts
How long does onboarding take?
- Onboarding takes a minimum of 5 days. The speed at which the onboarding process is completed depends on how well the agent responds to direction provided by the Carte Risk Management Contracting department. If the agent is non-responsive, the agent will be removed from our follow up system and the application will be closed
- We can reopen the file once closed, however, the agent must complete the rest of the onboarding process within 7 days
- If the onboarding process closes a second time, the agent will be charged $250.00 CAD to reopen the request
Onboarding is an involved process and we cannot do it without the involvement of the agent. Ensure the agent has time dedicated to onboarding to avoid delays, frustration, and additional cost.
How long does contracting take?
- Contracting begins after the agent is successfully onboarded.
- Carrier contracting times vary greatly based on the type of contract requested
| Contract Request Type | Average Approval Time* |
|---|
| New Contract, No Sponsorship | 5-10 business days |
| New Contract, Sponsorship Required | 10-20 business days |
| Transfer of Existing Contract, No Business Transfer | 10-20 business days |
| Transfer of Existing Contract, Business Transfer Required | 15-45 business days |
What are the most common contracting delays?
- Lack of response to the contracting department
- This is the most common delay in the onboarding and contracting. If agents respond to our team and act immediately, it is possible to onboard in as little as 5 business days!
- Most often, due to lack of agent involvement, onboarding can take up to 8 weeks (or more!)
- Please ensure agents are ready to commit the time and effort needed to complete the process. Our team works diligently to provide thorough follow ups with specific direction to assist agents in completing the process
- If agents require additional support, they are encouraged to reach out to HFG Canada Contracting support or the upline directly
- Low credit score
- The industry standard for credit score is a minimum of 600
- Credit score must be from Equifax; other providers are not considered
- APEXA will do a soft credit check monthly to monitor credit; your credit score will not be affected by this monitoring
- If your credit score is below 600, you will be required to provide an explanation regarding why your credit score is below 600 and provide a plan, and timeline, to increase your credit score to the minimum requirement
- Some carriers will not approve contracts for credit scores below 600; if you fall within this category we will inform you what carrier contracts you are eligible to apply for
- Failed Background Check
- An incomplete or failed background check does not mean you cannot get contracted, however, specific details will be required
- Depending on the severity of the incident reported and the time elapsed, there are cases that onboarding and contracting cannot be approved
- If you believe this could be an issue, please reach out to HFG Contracting directly and they will be able to provide you with a realistic expectation in terms of successful contracting
- Immigration Status
- If your current immigration status falls under "Work Permit" or "Student Visa" and/or you have a temporary SIN number, there are some carrier restrictions
- Some carriers will allow contracting and sponsorship
- Some carriers will allow contracting, not sponsorship
- Some carriers will not allow contracting or sponsorship
- Carte Risk Management Inc. has carefully selected insurance carrier partners to ensure a variety of carriers are available to agents to suit the needs of the agent based on their immigration status. As HFG continues to grow, we will work towards adding more carriers to your available product shelf.
What are some factors that affect contracting and sponsorship?
- Low Credit Score
- Missing information on the CHLIA Advisor Screening Questionnaire
- Incomplete/Failed Background check
- Immigration status
- Non-disclosure of previous bankruptcy, consumer proposal, industry debt and other professional affiliations
I have worked in the industry before, and I already have business with other carriers that HFG does not have. Can I transfer that business to Carte?
- No, unless HFG has the carrier contract required, you cannot transfer business
- Note: not all other MGAs/agencies will allow you to transfer your business. Be sure to confirm whether your business is eligible for transfer before requesting a contract transfer through Carte Risk Management Inc.
I previously held a license, but it has expired. What are my options?
- Expired less than 2 years – you can apply to reinstate your license; if your license expired prior to completing the 24 month sponsorship/supervision period, you will need to continue with sponsorship/supervision until 24 months of sponsorship/supervision have elapsed
- More than 2 years – you must retake the full LLQP course and all four provincial exams; you will require license sponsorship – you are considered a "new" agent
