Jan 27, 2009
OKEMOS, Mich., January 27, 2009 — Commonwealth Financial Network® (Commonwealth) will streamline its insurance licensing and renewal process among its more-than-1,000 financial advisors nationwide using Sircon’s Compliance Express™.
Compliance Express™ is designed to help businesses manage compliance aspects of the insurance producer lifecycle, automating the process of licensing, appointing, renewals, continuing education tracking, name and address changes and more for thousands of producers in multiple writing companies and in multiple states through one simplified process.
"Commonwealth sought to leverage technology to streamline first time licensing and license renewal activities among our insurance-selling advisors, freeing them from paperwork in favor of doing what they do best – working directly with clients," said John Hagberg, Licensing Manager with Commonwealth. "The strength of Sircon’s product line and its direct connections to several state regulatory agencies were deciding factors in making Sircon our technology partner."
As an online service, Compliance Express™ offers speedy round-the-clock connections to every state and many territories. Sircon also offers powerful, direct connections to 18 states, enabling Commonwealt's transactions to be processed and confirmed instantly, speeding time-to-revenue for its financial advisors.
All transactions are billed monthly to Commonwealth via a single invoice, reducing per-transaction state processing fees. Commonwealth also will participate in Sircon's affinity partner program by leveraging its own branded referral Web page where its advisors can access Sircon's Compliance Express™ product at discount rates, enabling Commonwealth’s receipt of additional per-transaction discounts.
"Commonwealth is committed to streamlining administrative processes to enable improved customer service, and Sircon is equally committed to advancing Commonwealth's philosophy through technology that promotes automation," said Stan Starkey, Vice President of Industry Sales at Sircon.
About Commonwealth Financial Network
Founded in 1979, Commonwealth Financial Network, member FINRA/SIPC, is the nation's second-largest, privately owned independent broker/dealer, with offices in Waltham, Massachusetts, and San Diego, California. The firm supports more than 1,200 independent financial advisors nationwide and makes available a comprehensive array of financial products and services.
About Sircon Corporation
Sircon is a wholly owned subsidiary of Vertafore, Inc. Sircon provides a comprehensive producer lifecycle platform to grow, manage and optimize producer channels. The company offers this platform as software-as-a-service (SaaS) to deliver immediate and compelling value to insurance carriers, agencies and brokers, education providers, producers (agents) and state regulators for licensing, recruiting, contracting, appointments, regulatory compliance, education tracking and producer management. Sircon's solutions provide essential industry services by connecting key stakeholders in the producer lifecycle through the Sircon network. For more information, please visit www.sircon.com or call 877.876.4430.
About Vertafore
Vertafore is the leading provider of software and information to the insurance distribution channel including independent agents, brokers, MGAs, carriers and reinsurers. Vertafore leverages a unique industry presence to deliver meaningful solutions - powerful technology, critical information and robust insights to help organizations effectively respond to business challenges and capture new opportunities. Vertafore solutions have helped more than 17,000 customers and 500,000 users gain a competitive advantage to accelerate their business performance. For more information about Vertafore, please visit www.vertafore.com.
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Media Contacts:
Linda Caudle
Vertafore
(425) 354-6043
lcaudle@vertafore.com