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Lifecycle Technology Simplifies Producer Compliance

Increased regulation and the need to stay competitive make automated producer compliance an agency imperative.

By Tim Owen | Updated on May 23, 2012

By Tim Owen, vice president, producer lifecycle management, Vertafore

Making sure producers can sell multiple lines of business through many carrier partners in one or more states is a complex web of back-and-forth communication. When performed manually, getting and keeping each of your producers properly credentialed to sell can take days or even weeks to complete. Although agencies are responsible for ensuring their producers are licensed and appropriately appointed with their carrier partners for the business they sell, carriers are responsible for staying informed of producer status changes. Not keeping all parties informed and up-to-date can come at great regulatory risk and cost. 

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