A Broker Transfer allows an existing client to move from one book of business to another within the FormFire system. FormFire offers Brokers the ability to either use the Automated Broker Transfer option or have the HR Manager complete an online Broker Transfer form.
Remember, both transfer processes takes up to five business days to complete, unless expedited by the outgoing Broker. This article will discuss how the HR Manager can complete the online Broker Transfer form.
First, the Broker logs into FormFire and clicks Broker Resources. This is available on the blue FormFire Admin menu on the left-hand side of the screen.
Once on the Resources page, the Broker will click Broker Transfer Request under General.
This will open either a new tab or window on your browser.
There are 4 areas that the HR Manager needs to complete:
- Company To Be Transferred
- New Broker Information
- Current Broker
- Submitted By
Items that are required will be noted with an asterisk ( * ). Once complete, the HR Manager will sign and click the blue Submit Form button.
FormFire will the receive this information and process the transfer request. An automated notification is then sent to the client's human resources (HR) contact, the outgoing Broker and the new Broker.
Once approved, the transfer will be completed in five business days. This mandatory waiting period is a courtesy to allow the outgoing Broker time to finish any outstanding business with the client before the transfer takes place. Although we understand requesting Brokers may want immediate action, this waiting period cannot be bypassed unless the outgoing Broker expedites the transfer by clicking the associated link in the email notification as shown below.
If the outgoing Broker doesn't need time to tie up any loose ends, they can click Expedite Link which gives the option to expedite or decline. If expedited, the transfer is effective immediately.