Creating Policies and Procedures from Statutes and Regulations

If you haven’t read my blog on “Statutes and Regulations/I’m not an attorney so what do they mean”, I encourage you to do so before reading this blog entry. It gives a brief explanation of what statutes and regulations are and the differences between them. Once you understand what they are, then it’s time to… Read more »

by Karen MachamerOctober 24th, 2016

Producer Lifecycle Management: The Long and Winding Road

A common term in insurance management is Producer Lifecycle Management (PLM). It means pretty much what you would expect: anything and everything to do with managing insurance agents, brokers, and advisors who are engaged in the sales and service of insurance products. PLM addresses all facets of producers: recruiting, onboarding, compliance/credentialing, compensation, portal technology that… Read more »

by John SarichOctober 20th, 2016

Statutes and Regulations? I’m not an attorney so what do they mean?

When I first started working in insurance compliance and had no prior legal experience (how did I get the job then; a story for another time), people would talk about “statutes.” Then the next sentence would be about “regulations.” I asked myself, what is a statute anyway? And how do they differ from regulations. Statutes… Read more »

by Karen MachamerOctober 19th, 2016

Complying with the Affiliated Agent Process in Insurance Licensing

I could start off this blog by saying we care because affiliated agents have to do with complying with state statutes and regulations, but then that would start things off on a negative note. Let me give you some history. Affiliated agents, or more correctly stated, affiliated “individuals,” are those who represent the agency. Twenty-eight… Read more »

by Karen MachamerOctober 4th, 2016

How Insurer Saved over Half Million Dollars in just over 6 months with VUE

Many insurers, face challenges with their compensation and commission systems. With the marketplace becoming more and more competitive, increasing sales month over month is critical. The onus is on the insurer to drive the sales behaviour to focus on the right products that give maximum push to the bottom-line. It comes down to creating appropriate... Read more » by Arjun SomanchiAugust 19th, 2016

SILA’s Annual Education Conference: An Insider’s View

SILA (Securities and Insurance Licensing Association) has existed for over twenty-five years.  It has grown and developed over the years to be “the” insurance licensing conference to attend; actually no others exist that cover licensing for all lines of authority, licensing compliance, and interaction among attendees and departments of insurance (DOI) regulators. When I attended… Read more »

by Karen MachamerJuly 19th, 2016

Insurance Summit 2016

By Karen Machamer, SILA-A, Insurance Licensing and Compliance Manager at VUE Software I attended the first Insurance Summit on May 16-17, 2016 in Kansas City, MO.  This Summit replaced the annual NIPR E-Reg Conference and combined it with the NAIC.  There were various tracks; I attended the Licensing Track. The key benefit for attending was… Read more »

by Karen MachamerMay 26th, 2016

The End of the Affordable Care Act?

Recently the Wall Street Journal published an article titled Highmark Sues U.S. Over Affordable Care Act, in which the insurer says it didn’t get nearly $223 million it was owed under the ACA’s ‘risk corridors’ program. To me, this heralds the logical end to an illogical program. Chickens really do come home to roost: health… Read more »

by John SarichMay 23rd, 2016

Will Your Company Survive the Millennial Invasion?

Thought leaders in the insurance industry have been talking about Millennials and the impact they will have on the industry in the next few years. Recently, I participated in a workshop, where the attendees were Baby Boomers, Generation X (Gen X), and Generation Y (Millennials). Their interactions were very interesting and it was a major... Read more » by Margaret LivermoreMay 2nd, 2016

Did the Insurance Industry Expect Google Compare to Close its Doors?

The news regarding the failure of Google Compare is on everyone’s tongue. Some industry watchers believe it’s a temporary setback whereas insurers who saw them as a viable threat are cheering silently. In the INN article entitled “Why You Shouldn’t Expect Google To Give Up On Insurance,” Nathan Golia referenced Ellen Carney of Forrester as… Read more »

by Margaret LivermoreMarch 4th, 2016