Insurance Licensing & Contracting

Workflow Template

Insurance Licensing & Contracting

Workflow Template

This workflow template illustrates the licensing of new Insurance Sales representatives (agents, brokers), at the state level, as well as renewals and terminations of insurance licensing. Purchase and download this template in PDF, Visio (VSD) and PowerPoint formats. You can customize it to fit your own organization, or simply use it to better understand Insurance Licensing & Contracting processes.

Related KPIs : Time to Start, Insurance Agent Headcount Ratio, Total Headcount Insurance Agents

What is Insurance Licensing & Contracting?

Insurance Licensing & Contracting is a process that involves the licensing of new Insurance Sales representatives (agents, brokers), at the state level, as well as renewals and terminations of insurance licensing. This process includes obtaining a letter of certification and/or a renewal license from the representative's Insurance Department (all appropriate paperwork for the representative's appointment must be filled and submitted before certifications are obtained), the submission of an updated Central Registration Depository form to NASD (National Association of Securities Dealers) for approval and the dissemination of welcome materials to the contracted representative (all information concerning the new hire should be forwarded to HR, Payroll and Benefits). A termination letter should be prepared and forwarded to the Representative if the agent's contract is cancelled or if the agent resigns.

Download a Sample Insurance Licensing & Contracting

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