Does Producer Licensing Ever Feel Like Groundhog Day?

For those of us of a certain age, we can’t celebrate February second without thinking about Bill Murray’s 1993 box office hit “Groundhog Day.” For our readers of a younger generation, the basic idea was that Murray’s (highly unlikeable) character was stuck in an endless time-loop, where he relived the same day over and over until he wised up and got it right by becoming a decent human being. 

We’re certainly not implying anything about your character here, but raise your hand if the process of onboarding new producers, getting carrier appointments, and keeping your producers in compliance across multiple states and lines of business has ever felt like this: 

If that feels familiar, you’re not alone! All over the U.S. insurance producers, agents, agencies, and carriers are stuck in an endless loop of filling out forms, sending them off, reviewing them, redoing them, and so on. 

Why is insurance licensing so repetitive? 

Because very few insurance carriers and insurance agencies have modern insurance infrastructure with real-time, two way communication to create a single source of truth and connect members of the distribution channel instantly. That’s a mouthful, but it’s true! Without real-time, two way communication there’s no way to avoid the cycle of filling, sending, reviewing, refilling, resending, and re-reviewing that many producers, agency staff, and carrier employees get stuck in. 

How can AgentSync help your producer compliance process? 

AgentSync can free everyone from manual and tedious insurance compliance processes by automating and streamlining everything from producer onboarding to carrier appointments to license renewals and agent offboarding. Literally, the entire producer lifecycle and the compliance checks that need to happen each step along the way. 

Automate producer onboarding 

Agencies and carriers alike can use AgentSync to get producers ready to sell in days, not weeks or months. Our customized producer portal lets agents enter their own information (just once!) and guides them through the process, auto-filling their data as needed and verifying nothing’s missing before they submit. 

Make Just-in-Time appointments work for you 

For carriers, appointing hundreds or even thousands of agents but never seeing a policy sale from them is time consuming and costly. With AgentSync, you can trigger JIT appointments automatically if and when a producer sells their first policy. 

Producer license renewals without the effort 

AgentSync takes the task of tracking producer license renewals off your staff’s plate. It sends alerts and reminders to the right people at the right time, ensuring no one is selling with an expired or invalid license. 

Compliance scorecard

If you’re looking for a bird’s eye view of compliance across your distribution channels, AgentSync’s got that. Compliance admins can see exactly what’s going on with each producer at all times, with information updated daily. If you’re wondering about the license status, which states producers are licensed in, which lines of business they’re licensed in, who’s got an upcoming renewal, who might need continuing education credits, and much more, the AgentSync compliance scorecard gives it to you. 

Eliminate internal and external data and workflow silos 

How many different teams are using different systems and cross referencing one between another by hand? If your answer isn’t “zero,” you might have data and workflow silos standing in the way of your compliance staff and producers doing their best work. Getting rid of silos means creating a single source of truth that everyone can rely on. This helps your internal teams be more productive, and helps your external partners know they don’t need to double check information you provide. 

So, this Groundhog Day, whether the groundhog sees his shadow or not, we can predict you’ll have a quick transformation to a world where producer license compliance isn’t a recurring nightmare. See how AgentSync’s solutions can help.