Outsourced Insurance License Maintenance
Overview
ACCEL’s insurance license maintenance services give you peace of mind by ensuring that your business is in full compliance with state license requirements.
ACCEL will manage all aspects of your individual and entity insurance licenses, including initial applications, renewals, ongoing maintenance and updates. ACCEL Compliance can manage the following types of insurance licenses:
- Producer Licenses
- Surplus Lines Licenses
- Reinsurance Intermediary Licenses
- TPA/PBM Licenses
- Adjuster Licenses
- MGA Licenses
ACCEL’s license maintenance services combine expert compliance specialists with the GreenLight™ License Management System*, a state-of-the-art cloud-based system designed and built with your needs in mind. When you partner with ACCEL for license maintenance, ACCEL will monitor and manage all the tasks to obtain new licenses and ensure all existing licenses remain in good standing. (*Formerly known as the ACCEL Compliance Control Suite)
Benefits of Outsourced Insurance License Management
ACCEL Compliance has the privilege of working with some of the smartest insurance agencies, brokers, and TPAs in the country. Here are a few of the reasons they say it makes sense to partner with ACCEL:
GROWTH
They want their people focusing on growth, writing new business and working with clients. They are not interested in chasing the multitudes of regulatory requirements that govern their business.
MOVING TARGET
Regulatory requirements differ across jurisdictions and are constantly changing. If our 100% dedicated compliance staff finds this challenging, imagine how difficult and risky it can be for someone who handles compliance part-time.
CONFIDENCE
While our clients are out competing for business, they need to know that their regulatory position is secure. ACCEL provides this assurance, and with our GreenLight™ License Management System, clients can view their licenses, applications, renewal status and more in real-time from any computer or mobile device.
EFFICIENCY
ACCEL’s entire business is built around the efficient, cost-effective and secure management of insurance licenses. With our dedicated systems and workflows, we humbly believe that we’re handling these insurance maintenance tasks about as efficiently as it can be done, while also ensuring your compliance is never at risk.
ACCEL’s Approach to Insurance License Management
ACCEL Compliance manages thousands of licenses for agents, brokers and TPAs ranging in size from a handful of licensed producers to hundreds. We have established robust workflows that ensure all aspects of your licenses are maintained in a timely manner.
Due to our scale, we also have strong working relationships with departments of insurance and secretaries of state across the country. We diligently stay current on changes in rules and requirements, and we are ready to help you navigate tricky issues when they come up.
We invite you to explore more detail about our approach to Insurance License Management below:
Your ACCEL Compliance Manager
When you get started with ACCEL’s Complete License Maintenance Program, ACCEL will assign a dedicated Compliance Manager who will be available to assist you with all your licensing needs. With unlimited phone support, you can reach out any time with questions about your portfolio of licenses.
GreenLight™ License Management System
You will also receive unlimited access to your detailed licensing information in the GreenLight™ License Management System, a powerful interactive database and comprehensive storehouse of your critical licensing data. Your licensing information is securely loaded and stored so you can access it in real time on your computer, tablet or smartphone.
Initial License Applications – Resident and Non-Resident
As an ACCEL Complete License Maintenance customer, all of your initial license applications will be handled by the ACCEL team through our streamlined license application process. Key elements of the Complete License Maintenance Program include:
Annual License Maintenance
ACCEL also makes sure your licenses remain in good standing by filing required renewals and related reports and providing ongoing monitoring to quickly identify license restrictions. As part of your ongoing license maintenance program for in-force licenses, you will receive the following:
State Filing Fees and Other Disbursements
As part of our commitment to removing the hassle from your insurance license maintenance, ACCEL will handle the payments for all state filing fees, secretary of state fees and registered agent fees. Each month, we will inform you of the external fees that are payable in the coming three months, so you can consolidate transactions. We will also provide a detailed reconciliation of fees paid on your behalf so you can track your licensing expenses.
ACCEL would love to hear from you.
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