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.

Let’s take a Mario Puzo minute here and pretend you’re Michael Corleone. When do you want to know Fredo’s gone sour? Is it after the assassination attempt? Or is it before?

If you sell insurance, you have historically had some kind of incentive structure beyond a commission. Yet, these rewards and incentives are an area of scrutiny for producers who may be selling annuities funded by retirement plans.

Producer management and licensing compliance isn’t the most attractive part of working in insurance. This guide makes understanding it a bit easier and AgentSync makes the process even easier.

The insurance world isn’t moving at the speed of light quite yet, but technology is still bound to transform the ways insurance agents and carriers do business with one another and their customers.

You can want to grow your business – including expanding your distribution channel partnerships – all day long but without the right talent in place growth is pretty hard to come by. 

With AgentSync’s leading producer management technology, Senior Life has created massive efficiencies and streamlined agent onboarding to take minutes, not days.