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Archives

The Evolution of Compensation Management System in a Changing Economy

When the average person thinks of insurance, they have an effective preconceived idea as to how to shop and purchase a policy, have coverage, or get administrative questions answered, and what to do in the event of a claim. But it wasn’t always that easy to navigate the insurance-buying process. From that early beginning—when insurance… Read more »

by John Sarich2018

16th Annual Insurance-Canada Technology Conference: Insurance Vectors in Play: Risk, Technology, Engagement Feb 27th and Feb 28th

I’m looking forward to attending the Insurance Canada Technology Conference this year to learn and share ideas of how our Industry is preparing for change. This is a great conference to see new technology, share new concepts, and learn new business models that all come together under one roof. As the conference theme states: “Hear… Read more »

by Gil Quesnelle2018

Cue Carnac the Magnificent: 2018 Predictions for Insurance Technology

I recently received an inquiry from one of our analyst firms asking about issues in insurance technology for 2018. It’s the New Year, so receiving this type of questionnaire isn’t unusual and it does have the benefit of making me think about what we will be talking and writing about in 2018. So, without further… Read more »

by John Sarich2018

Preparing for State Appointment Renewals 2018

Many carriers are starting to receive annual appointment renewal invoices, from insurance departments which can be quite daunting, to say the least. We all know that if we miss paying an invoice by the due date, all appointments get automatically terminated. The good thing is that technology is available to help us get organized and… Read more »

by Gloria Camacho2018

Oklahoma Announced it No longer Allows Backdating!

The Oklahoma Department of Insurance announced on October 27, 2017 that they will no longer allow appointments to be backdated beginning December 27, 2017. Oklahoma will join Georgia and Pennsylvania, which also do not allow backdating of appointments. What is appointment backdating? Generally, it is the process by which states allow carriers to appoint an… Read more »

by Gloria Camacho2017

The Future of Agent-Carrier Relationships Lies in Self-Service: Interactions for Progress

A few years ago a large career focused life client, was seeking to expand their business and bring on agents in a training capacity and move them up a sales ladder. In this development approach to grow and maintain a sales force, the producers gradually proved themselves, became eligible to sell more products, and were… Read more »

by Roger Lavine2017

It’s a War Out There: InsureTech’s to the Rescue?

One of my pet peeves is the one-dimensional approach of technology companies when selling their particular “solution” to an insurance carrier. You can see this clearly if you look at the hundred plus insurance-technology vendors, mostly start-ups, that make up the phenomena known as “InsurTech.” These new faces in insurance technology can tout their particular… Read more »

by John Sarich2017

Who Exactly is the NIPR and What Do They Really Do?

Many people confuse the NIPR with the PDB. They think the terms are interchangeable. In fact, though, one is the organization and the other is a database of producer information. The NIPR or National Insurance Producer Registry was incorporated in October, 1996 as a nonprofit affiliate of the National Association of Insurance Commissioners (NAIC). One… Read more »

by Karen Machamer2017

Insurance Automation: A day in the life of an Insurance Compliance Manager

Does the following sound familiar? Read on to see if this is not reminiscent of your world today. Rest assured; there is a better solution. You come to work and immediately see a stack of paper on your desk. You haven’t even had your first cup of coffee. The paperwork has been faxed by prospective… Read more »

by Karen Machamer2017

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 Sarich2017