Market Leading Solution
Xchange, RegEd’s Enterprise Licensing solution, developed in collaboration with top industry firms, has been implemented in over 150 financial services firms across the nation. Xchange is unique in its ability to drive unparalleled operational efficiency and optimize all processes related to the licensing of producers and adjusters. Xchange’s comprehensive capabilities dramatically reduce transaction processing time — often by 50% or more.
Xchange is the only industry solution that provides end-to-end support for adjuster licensing through a single interface. Powered by an extensive compliance rule base, including state reciprocity rules, Xchange for Adjuster Licensing precisely calculates the licensing and CE requirements for single and multi-state licensing and renewal transactions. This significantly reduces non-compliance exposure due to miscalculated CE requirements or incorrect reciprocity calculations for designated home states.
Xchange’s intuitive user interface enables adjusters or processors to request licensing or appointment transactions, data is captured once, reused in subsequent transactions and updated automatically through integration with regulatory databases and relevant internal systems. The solution’s integration with regulatory databases also triggers critical alerts and notifications upon changes to the Adjuster’s profile information or when adjuster licensing data is not in sync with the official filing office record.
Fully configurable, Xchange for Adjuster Licensing can also be integrated with the firm’s claims system to ensure that appropriate license filings are in effect and Adjusters are properly licensed in all states where claims are being processed.
And, Xchange provides comprehensive ad hoc reporting capabilities, enabling ready access to critical Adjuster information, streamlining oversight and enabling the firm to readily produce documentation to satisfy requests from internal stakeholders and state examiners.
- Xchange for Adjuster Licensing provides a single, integrated solution that fully automates the Adjuster licensure and license renewal processes.
- Supports Adjuster electronic and paper license filings through the NIPR.
- Xchange hierarchy, workflows, notifications and reports can be fully customized and configured to the company’s specific needs and requirements.
- Automatically captures and maintains full demographic, licensure and CE requirements for each adjuster.
- Integration with the NIPR database and automatic data reuse auto-populates renewal transactions to be filed electronically.
- Provides notifications and alerts when Adjuster data is not synchronized with the filing office record.
- Enterprise reporting capabilities generate both templated and ad-hoc reports across the Adjuster population, at any level of the company’s hierarchy.
- Efficient transaction processing and management by exception enables dramatic efficiencies and speeds adjuster licensing and licensing renewal process.
- Automatically calculates the licensing and CE requirements for single and multi-state licensing and renewal transactions, significantly reducing non-compliance exposure due to miscalculated CE or home state reciprocity requirements.
- Automated data synchronization of adjuster data with the NIPR ensures accurate data populates transactions, reducing non-compliance risk.
- Business process automation drives efficiency throughout the licensure and license renewal processes, enabling companies to realize a material return on investment.
- Real-time validations ensure that adjusters are properly licensed before a claim is assigned.
- Comprehensive rule base and data synchronization with NIPR increases the accuracy of Adjuster filings, reducing NIGO rates.
- Comprehensive reporting enables the firm to readily produce documentation to satisfy requests from internal stakeholders and regulator examiners, reinforcing “culture of compliance” perceptions.