Top 5 ways to eliminate NIGO

There are few greater challenges for financial professionals and their clients than the paper annuity application. There are plenty of opportunities to make an error from missing pages to unsigned documents. Across the industry, the average Not In Good Order (NIGO) rate for paper applications is a staggering 60%! And while electronic applications and e-signatures improved the process, the NIGO rate for e-applications is still 40%.

The only way to truly solve NIGO is through a fully realized, 100% digital end-to-end platform that starts with planning through the opening and managing an account. FIDx solves possible errors by enabling real-time checks for items like licensing and appointment, state availability, and up-to-date client information. FIDx hasn’t just changed the application process; it’s changed how financial professionals think about annuities by embedding the solutions directly into their wealth management platform.

Top 5 ways FIDx can help eliminate NIGO:

1. No paper—paper applications can easily have missing pages or entire documents. By completing all paperwork electronically, we ensure all pages and required documents are completed and submitted.
2. E-signatures—one of the biggest culprits for NIGO is missing signatures. With e-sign, the application can’t be submitted until all signatures are completed.
3. Effortless process—the application process flows electronically between the financial professional, client, and carrier, eliminating gaps in the process that leave it open to NIGO.
4. Less wait time—there is no waiting on snail mail or lost applications to make it from one location to another since the entire process is electronic.
5. One platform, one application—financial professionals don’t need to be familiar with different application processes from multiple carriers.

FIDx is your partner for efficiency. With a complete digital end-to-end process, NIGO can be reduced dramatically, allowing financial professionals to focus more on what they do best.

Technology that fits your business model 

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.