Licensing Outsourcing? Viable?

[OpXGuy]

So I hear a lot from agents about the time they spend on licensing, completing CE, keeping licenses renewed. Then, when things don't happen, we spend so much time resinstating licenses, hunting down CE courses at the last minute, etc. Late fees can add up. For a large agency, this can be a big process.

What are thoughts on outsourcing this process to a vendor?

Here is what I've seen:
- Vendor renews all of our agency and agent licenses using background information we provide them. I think this is the biggest for us. They don't contact us, everything just happens behind the scenes.
- Vendor provides database to track licenses
- Myself and my agents can submit request to them for new licenses, addresses, name changes, etc. They handle the processing, pay state fees on our behalf, and invoice monthly for those fees
- They track CE, send reminders and provide courses online
- They handle all of the affiliations when we hire new agents, and same for terminations

I'd like to hear your thoughts on outsourcing. Have you thought about it? Anyone doing it now? Do you think it would be worth it?

[LadyBroker]

If you are a large firm, this could be a good way to be sure all your producers are currently licensed. For smaller firms, I think it's more money than it's worth, but then again, I think an agent that can't keep track of his own license renewal is probably not on top of other things, either.

[dm307799]

http://www.supportiveis.com/ <---------- The authority on the matter. I think they charge per producer.

[dm307799]

Tip brought to you by your local PIA (Professional Insurance Agents Association) - http://www.pianet.com/

[AgencyEquity]

I think this is a good idea for mid to large size agency, it is cost effect as this is all that these licensing firms do. You are transferring an very important responsibility, this gives more time for you agency to focus what is does best and that is to grow your agency,