What are the benefits of using APEXA?

Detailed benefits for MGAs and Carriers. 

From a single profile for every licensed advisor to modern technology that can integrate with any CITS standard back office systems while meeting CLIEDIS standards, see below for detailed benefits of the APEXA system.

Benefits for Advisors

APEXA is the industry solution for greater standardization, clarity, timeliness, and efficiency for contracting and licensing. Streamlined processes means more time to focus on your clients. 

Single Profile

As a life and health licensed advisor, you will have one unique profile. If you have various licensed business entities, partnership agreements and/or registered corporations, all entities can be managed in your one profile.

Simple Profile Updates: A secure, centralized profile allows you to update your address, phone number, banking, email, and personal information so it is always current. MGA and Carrier records will reflect your updates so you will no longer need to update each entity with whom you are contracted.

Information Security: Your Profile is viewable only by those MGAs and Carriers with whom you have a contractual relationship or with whom you are applying for a contract.

Simplified Contracting

Standardized & Paperless: APEXA compiles all the information into a single profile that MGAs and Carriers require for contracting, so that the contracting process is standardized across the industry. Your profile will prefill the applications. No paper applications, delays, misplaced forms, or manual follow ups are necessary.

One Stop: You will be able to request a contract with any Carrier or MGA in a fast, efficient manner. Through APEXA, you will electronically transfer your contract application, and the partnering company can review your application and your profile, complete with license and E&O. With that information, they can start the application review immediately.

Compliance Tracking & Notifications

APEXA will track licensing, insurer contracts, MGA contracts, E&O insurance and annual attestations, all in one place. Through APEXA you will update your profile so you do not have to update the Carriers and/or MGAs directly.

Renewals/Expiries: APEXA provides you with notifications, reminders, and follow ups as you approach license expiry for each province and/or E&O insurance expiry. No need to manually track expiry dates or fear missing a reminder and becoming non-compliant.

Electronic Attestations: On an annual basis you will complete an APEXA attestation confirming that your profile is accurate and up to date. If there are MGA or Carrier attestations or documents that require completion or review this will be added to your annual attestation. Your profile will indicate if there is an attestation due and you will receive notification and reminders to make sure you do not miss important dates or documents.

Services & Support

CE Depot: You can add your CE credit activities and documents to your profile. This will allow you to track all CE credit activity from various sources, all in one location.

Credit Protection: Monitor your credit trending from time to time and set up alerts to monitor changes in your credit score.

Customer Service Support: Live support is available from 8am - 11pm EST for English and 8am - 6pm EST French to help you with any questions on how to use APEXA.

Modern Technology

Access: APEXA is compatible with multiple browsers and can be accessed from your desktop or laptop at any time.

Data Security: APEXA will keep the infrastructure protected behind multiple layers of firewalls and intrusion prevention systems, and will support an elevated level of encryption for all communications to and from the service.

Electronic Signatures: To make it easy, APEXA uses electronic signatures for contract applications, annual attestations, and more.



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Benefits for MGAs

APEXA’s national platform reduces contract cycle time, provides current accurate advisor background and information, standardizes process, selection and contracting.  APEXA reduces work and can meet future carrier and regulatory needs.

Single Advisor Profile

Each life and health licensed advisor will have one unique profile. Each of their business entities, partnership agreements and/or registered corporations will be contained and updated via that profile.

Easy Updates: One safe secure location for advisors to update personal information such as address, phone number, banking, email etc.

Simplified Contracting

Standardization: APEXA compiles background, license, E&O, credit, personal information and application data so that screening and contracting will be standardized.

Efficiency & Accuracy: Contracting applications populate data directly from the advisor profile. The application must be complete, no missing data or blank fields so applications will be submitted in good order. No paper applications, misplaced forms or manual follow ups. 

Electronic Signatures: - Advisors, MGA's and Carriers sign contracts electronically within the APEXA system.

Compliance Tracking and Notifications

Verifiable: Advisor background, licenses and E&O are documented on the system.

Provincial License Monitoring: APEXA maintains and validates license information for each province or territory. When an advisor is granted a new license or a renewal (or lapse) their profile will be updated.

Credit Checks: APEXA will provide an initial credit check, ongoing credit score monitoring and credit triggers for each advisor. You’ll have access to recent credit information at your fingertips.

Criminal Checks: A new advisor to the industry or a new advisor to a carrier or MGA will have a background check.

Notification System: Carriers and MGA's will be notified of compliance issues and or credit triggers if they arise.

Streamlined Electronic Attestations: Each year the advisor will be required to complete an attestation confirming the completeness and accuracy of information on their profile.  MGA and carrier partners may include additional documents required for review or signing at the time of attestation. Reminders will be sent to make sure that attestations are completed.

Flexible Technology

Integration: APEXA uses a CITS standard format to integrate with any back office system. 

Industry Change: New or amended contracts can be accommodated on APEXA and pushed to all advisors for electronic signing and acceptance.

Agility: APEXA can be modified to reflect new industry mandates or increasing compliance standards, keeping the industry and its advisors on pace.

Industry Governed

Governance: To maintain the interests of the industry, the Governance board is comprised of insurers, MGAs & ADVOCIS.



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