How will NARAB Affect State Insurance Regulators?

This is the final installment in our series on the potential impact of NARAB II on producer lifecycle stakeholders. If you haven’t seen the posts yet, we have already covered covered how the bill’s passing could affect agencies, producers and carriers. Now let us examine some ways NARAB could affect state insurance regulators. What will not change: State insurance regulators will license their resident agents just as they always have. This means the lifecycle of...

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How will NARAB affect Carriers?

As NARAB II appears closer to passing than ever before, let’s continue to explore how it would affect carriers by creating a national clearinghouse for non-resident insurance licensing. Producers who opt to go the NARAB route will be looking to get credentialed in more states, which would likely increase non-resident sales of insurance throughout the US. Of course, those producers will continue to obtain their initial resident license from their home state. This will not aff...

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Between the Lines at the NetVU Leadership Summit

Spending face time with customers is one of my favorite things. Last month NetVU (Network of Vertafore Users) hosted over 100 Vertafore customers and a few Vertafore employees for 3 days in Dallas, TX for the NetVU 2014 Leadership Summit. The weekend long meeting marathon focused on professional development for the impressive brigade of volunteers that lead NetVU activities like local chapters, and on identifying education tracks for the 2015 NetVU Conference. ...

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How Will NARAB Affect Agencies?

Many of the scenarios Dane Sprecher covered in his post about the impact of NARAB on individuals also apply to the agency as a business. However, a number of issues remain that agencies should consider. So your agency already has state licenses … More than 75 percent of agencies hold only a resident license, meaning NARAB wouldn’t provide much benefit. And the next 17 percent can count their non-resident licenses on one hand. So, the vast majority of agencies shouldn’t expect ...

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Humans In Sync: The True Value of Licensing Automation

Wouldn’t life be better if you didn’t have to worry so much? I sat in for my first demo of Producer Manager over Webex last week. And, as someone fairly new to the business of insurance credential management, I must admit I expected the subject matter to be very dull. Like, painful, difficult-to-stay-awake dull. There’s just something about the phrase, ‘routine producer licensing compliance’ that makes me want to take a nap. But, before the credential management enthusi...

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