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Forrester Takes Note of Sircon

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Forrester Takes Note of Sircon

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March 12, 2010
By David Sims
TMCnet Contributing Editor

Sircon Corporation, a wholly owned subsidiary of Vertafore, is among nine emerging insurance technology companies Forrester Research (News - Alert) recognized in its December 2009 Hot Insurance Tech Companies to Watch in 2010 report.

 
Forrester evaluated Sircon's latest offering, ProducerEDGE, a personal compliance portal for individual producers.
The report found that Sircon's ProducerEDGE adapts '… the functionality of its producer management and credentialing solution, putting licensing, renewal, continuing education and regulatory news on a single page.'
 
Forrester found that it also provides links so that users can apply, look up, renew, and print licenses, 'along with taking care of the basic updates like name and address changes.'
 
'ProducerEDGE helps individual producers tackle some administrative tasks critical for carriers, agencies and producers such as keeping track of their individual and collective compliance status and making minding that compliance easy and free through business partners,' the report found.
 
In December TMC (News - Alert) had the news that Sircon processed its 40 millionth transaction – 'Transaction 40,000,001 was completed at the request of Pacific Life Insurance Company,' company officials said.
 
Bob Nero (News - Alert), chief executive officer of Sircon, noted that doubling the number of online transactions from 20 million to 40 million in just two years 'reflects how the industry depends on us for speed and accuracy in insurance licensing and regulation.'
 
This accomplishment, Nero said, was achieved through the producer lifecycle platform: 'This platform supports state regulators, insurance carriers, brokers/agencies, education providers and individual producers to process mission critical transactions electronically, such as licensing, contracting, appointing and other compliance related services - often with a single click.'
 
Recently announced additions to the Sircon platform designed to help insurance-industry stakeholders anticipate and manage regulatory requirements include an enhanced Sircon for Carriers suite, which enables processing of bulk appointment requests for an entire set of producers from a simple spreadsheet upload, eliminating time-consuming one-at-a-time appointments. Basic producer data such as addresses and licenses can also be created or verified from the Producer Database.
 

David Sims is a contributing editor for TMCnet. To read more of David’s articles, please visit his columnist page. He also blogs for TMCnet here.

Edited by Patrick Barnard

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