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Insurance Compliance News: Kansas has Revised Third Party Administrator Life and Health Licensing

Kansas Insurance Department (KID) has passed Senate Bill No. 22, updating statutes relating to the regulation of third party administrators. It amended K.S.A. 40-3801 et seq., regarding the licensure of third party administrators in Kansas. The law became effective March 9, 2017. (See Bulletin 2017-2 http://www.ksinsurance.org/department/LegalIssues/bulletins/Bulletin-2017-2.pdf) An individual or business entity that performs the duties… Read more »

by Karen MachamerMay 18th, 2017

VUE CRM is essential to DISTRIBUTION MODERNIZATION

A well-designed distribution system or platform with the ability to manage the key business process of distribution—recruiting and on-boarding, compliance, compensation, portal, and analytics—will have all the requisite functionality. Additionally, the modular design of the system should let modules “plug and play” with each other. This allows various applications, some disparate, to be used in… Read more »

by John SarichMay 15th, 2017

Property & Casualty Insurers: Technology to Navigate Today’s Changing Ecosystem

In the past decade, property and casualty (P&C) insurance has been the segment most affected by technology.  The speed at which technology is developing and the proliferation of Internet applications, mobile devices, and cloud computing has significantly changed the distribution and sales of insurance premiums. To continue to grow, maintain operational efficiency, and maintain a… Read more »

by Margaret LivermoreMay 10th, 2017

Insurance Compliance News: Virginia Will Require Producers to Complete Annuity Training 

Recently VA amended Chapter 45 of Title 14 of the VA Administrative Code effective April 1, 2017. The revised Rules require agents to complete a one-time, four (4) credit continuing education (C.E.) course on annuity products.  The deadline for compliance with this training requirement is January 1, 2018, for agents currently holding a life insurance… Read more »

by Karen MachamerApril 26th, 2017

Insurance Solutions – The House of Mirrors

Every time I peruse anything dealing with insurance technology, I come upon the term “Insurance Solutions.” I guess insurance solutions is a category for anything and everything related to insurance-technology. So, all insurance tech is in the insurance solutions bucket. I do get that, but any technology that is insurance related isn’t necessarily a solution…. Read more »

by John SarichApril 17th, 2017

In the Age of The Customer, Life & Annuity Insurers Must Embrace Digital Processes

All businesses, regardless of industry, must be aware that customers expect the ease, intuition, and anytime/anywhere interaction of digital. Customers have the power to dictate how and when they want to do business with you—and if you aren’t available, they will go elsewhere. A recent PWC Global Survey found that customers expect this ease of… Read more »

by Margaret LivermoreApril 12th, 2017

How Health Insurance Companies Can Digitally Transform their Distribution Channel

As a company that keeps its finger on the pulse of the insurance industry, VUE Software is always aware of how the latest technology can help companies in the industry thrive and remain competitive by implementing the latest technology. VUE is currently modernizing the platform and processes of health insurers with digital technology. Digital refers… Read more »

by Margaret LivermoreMarch 28th, 2017

Core Systems: The Elephant in the Room is Distribution Management

The New Car without a Transmission Core systems are always in the insurance news since they are the engine that drives each, and every insurance company. Recently, Novarica published its biannual review of Core Systems—Policy Administration Systems—for the P&C world. One is struck by the number of policy admin systems that are in the study… Read more »

by John SarichMarch 16th, 2017

CRM for Insurance – Distribution Modernization, Future Technology

A simple definition of CRM is “A system for managing a company’s interactions with current and future customers. CRM involves using technology to organize, automate, and synchronize sales, marketing, customer service and technical support.” Most people engaged in sales and marketing are familiar with contact databases such as ACT and Goldmine. Most companies in the… Read more »

by John SarichMarch 14th, 2017

The Importance of Insurance Licensing Software

Automation, paperless, not having to decipher a producer’s handwriting, not having to contact an agency for missing information, no more manual entry in multiple databases, protection of personally identifiable information (PII), less human error, built in compliance … these are just a few reasons why it is important to have VUE insurance licensing software do… Read more »

by Karen MachamerMarch 6th, 2017