Outsourced Insurance License Management

Overview

ACCEL’s Complete License Maintenance Program gives 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

ACCEL’s license maintenance services combine expert compliance specialists with the ACCEL Compliance Control Suite, 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.

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 ACCEL Compliance Control Suite, 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:

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.

You will also receive unlimited access to your detailed licensing information in the ACCEL Compliance Control Suite, 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.

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:

  • ACCEL will provide you with a convenient license data intake profile form with instructions for providing the information required to complete your applications.
  • ACCEL will obtain certificates of good standing and certified charters from insurance departments and secretaries of state.
  • ACCEL will coordinate required foreign qualification and registered agent services.
  • ACCEL will complete all requested applications for submission to states.
  • ACCEL will file required applications.
  • ACCEL will monitor the status of your applications and respond to regulator inquiries.
  • ACCEL will prepare and file required agency affiliations with state departments of insurance.

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:

  • Annual licensee profile updates.
  • ACCEL will track upcoming renewals and requirements and notify you as needed.
  • ACCEL will confirm that your licensees have satisfied continuing education requirements for renewal applications.
  • ACCEL will file renewal applications.
  • ACCEL will track license status in the NAIC National Insurance Producer Registry twice per year to ensure licenses remain in good standing and identify posted administrative actions.
  • ACCEL will request duplicate licenses as needed.
  • ACCEL will notify states of:
    • Changes of individual or entity address
    • Changes in officers and directors
  • ACCEL will file required termination notices of agency affiliation with state departments of insurance.

As part of our commitment to removing the hassle from your licensing management, ACCEL will handle the payments for all state filing fees, secretary of state fees and registered agent fees. Each quarter, 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.

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