Say 'No More' to NIGO

Paperwork errors and annuity applications have, unfortunately, gone hand in hand for far too
long. Even the slightest of errors can cause the application to be considered Not in Good Order
(NIGO). Across the industry, the average NIGO rate for paper applications is a staggering 60%!

The arrival of electronic applications and e-signatures were much-needed first steps to improve
the process, but the average NIGO rate for e-applications are still 40%. Enter FIDx. With a fully realized, 100% digital end-to-end platform that starts with planning all the way through the opening and managing the account, FIDx can solve most of the errors leading to NIGO. The only acceptable NIGO rate is zero, and it’s only a click away with FIDx.

Top 11 eNIGO reasons (70% of eNIGO)

1. Replacement form needed
Paperwork missing altogether 

2. Owner's signature 
Missing form(s) turned in without signature 

3. Replacement reason missing
On NAIC form turned in without

4. Miscellaneous paperwork form needed
Undefined form missing

5. ACCORD form incomplete
Form not fully filled out

6. ACCORD form needed
Form missing altogether 

7. Trust document needed
Missing altogether

8. RPL form signature(s) missing
Paperwork not signed

9. RPL form question
Could leave one blank or both

10. Verification form needed
Form missing altogether

11. RPL rep signature
Paperwork submitted, not signed 

While e-applications and e-signatures have improved the process, there are still too many factors that can lead to NIGO. Copyright © 2021 by the Insured Retirement Institute (IRI), 1100 Vermont Avenue NW, 10th Floor, Washington, DC 20005. All rights reserved. This use of this copyrighted material by FIDx has been specifically authorized by IRI for educational purposes only. This copyrighted material may not be otherwise used, published, distributed, reproduced, or shared, in whole or in part, without the express written consent of IRI.

We're here to help

With a growing selection of commission-free and commission-based products from the industry’s top carriers, along with real-time insights to help identify client opportunities, FIDx is leading the way in bringing this important asset class to more households.

Most importantly, FIDx fits into a financial professional’s existing model and wealth management
dashboard to meet them where and how they do business.