The industry’s most trusted solution for rules-based producer data reconciliation to reduce NIGOs and ensure accurate, up-to-date producer data achieves new breakthrough in scale, fueled by nearly 10 years of product innovation and continuous adoption by leading insurance companies and distributors.
Raleigh, NC, April 11, 2024 (GLOBE NEWSWIRE) — RegEd, the leading provider of producer management solutions for the financial services industry, today announced a significant milestone for the company’s pioneering Xchange NIPR Alerts solution, which has processed more than 250 million data updates over nearly a decade of industry leadership and innovation. The achievement underscores the effectiveness at scale of the solution’s rules-based data reconciliation engine, which, through integration with the NIPR Producer Database (“PDB”), significantly expands the range of data for which firms can receive automated change notifications and systematized reconciliation of changes with the firm’s back-end database.
“Monitoring, updating and maintaining accurate credentialing data continues to be a challenge for insurers and distributors, and is especially burdensome for firms with a large number of producers” said Kristy Locklear, Senior Vice President, Product Management at RegEd. “Processing more than 250 million data updates affirms our solution’s ability to drive efficiency at enterprise scale, and demonstrates that our proven approach to managing producer data has become industry best practice for handling this critical business process.”
RegEd’s Xchange NIPR Alerts solution, trusted by top insurers and distributors, automates more than 95% of updates directly from the PDB, enabling zero-touch processing for IT and Licensing Operations while delivering substantial ROI. The solution significantly enhances producer data accuracy and eliminates NIGOs through daily reconciliation, ensuring business validation with current producer credentials. Additionally, the system enables comprehensive reconciliation of a broad set of producer data, including updates on appointments, addresses, licenses, RIRS actions, and demographic changes.
For more information about RegEd’s Xchange Producer Management solutions, please visit RegEd.com.
About RegEd
RegEd is the market-leading provider of RegTech enterprise solutions with relationships with more than 200 enterprise clients, including 80% of the top 25 financial services firms.
Established in 2000 by former regulators, the company is recognized for continuous regulatory technology innovation with solutions hallmarked by workflow-directed processes, data integration, regulatory intelligence, automated validations, business process automation and compliance dashboards. The aggregate drives the highest levels of operational efficiency and enables our clients to cost-effectively comply with regulations and continuously mitigate risk.
Trusted by the nation’s top financial services firms, RegEd’s proven, holistic approach to RegTech meets firms where they are on the compliance and risk management continuum, scaling as their needs evolve and amplifying the value proposition delivered to clients. For more information, please visit www.reged.com.
CONTACT: Eric Clements eric.clements@reged.com
