The word-jumble that constitutes the insurance industry often includes businesses with nebulous roles and frustratingly vague descriptions – consider FMOs, IMOs, and NMOs, or aggregators, or MGAs, or brokerages.

People often think change is expensive. But what about the cost of staying the same? When your insurance business doesn’t invest in process improvements, modern technology, and automation, you run the risk of paying the price in the long run.

The Health Insurance Portability and Accountability Act of 1996 (HIPAA) may be one of the most commonly referenced health insurance laws. Learn a bit more about what it is, what it does (and doesn’t do), and how it impacts the insurance industry. 

Your internal teams and stakeholders as well as your external partners can all benefit from insurance tools like compliance management systems, contracting management solutions, and other carrier or agency management software.  

State by state variations of laws, compliance protocols, industry transparency, and general regulatory cultures is a little bit like herding cats. So, what better way to wrangle some of the more localized insurance news than in a Regulatory Roundup?

Insurance producers are generally expected to meet a “standard of care” for their clients, but what does that really mean? Let’s discuss a few of the standards insurance producers are held to, and what these standards mean for their clients.

MGAs and their life insurance counterparts, MGUs, are often skating the edges of insurance regulation. In some contexts, they’re regulated like agencies, in others, like carriers. Because of this, they might get paid through a variety of means. 

Breaking down the data, workflow, and communication silos in your insurance business may feel daunting, but it doesn’t have to be.

Whether you’re working directly with a carrier or through an upstream agency umbrella, you’ll need to be somewhat familiar with the appointment requirements of the various regions your producers are working in.

Insurance technology leader AgentSync unveils the most efficient solution to streamline all carrier contracting needs, from managing carrier requirements to tracking producer status.

We built AgentSync with a Salesforce backbone because the bottom line for us is a secure, customer-centric experience, and Salesforce has helped us deliver that. Every time Salesforce updates we – and our customers – automatically benefit.

According to Congress.gov, in the 117th Congress, we’ve had more than 1,500 bills introduced in the Senate or House of Representatives that affect insurance regulation.

DRLP licensing is pretty important for an agency, since, in some states, if the DRLP license lapses, the agency is also considered to have lapsed. In one case, a DRLP who quit terminated the agency’s ability to operate as an insurance agency.

The producer management lifecycle for carriers, agencies, and MGAs/MGUs is made of distinct stages, each managed by different teams, regulatory requirements, and general processes.