IBM Cognos Producer Lifecycle and Credential Management V1.0 is designed to assist insurance organizations by providing a single solution to manage large distribution networks of agents and firms. Although IBM Cognos Producer Lifecycle and Credential Management can be deployed as a single solution, it can also be integrated with IBM Cognos Incentive Compensation Management to provide an end-to-end solution for both administering the producer lifecycle and credential management and incentive compensation business processes.
IBM Cognos Producer Lifecycle and Credential Management V1.0 has a breadth of capabilities and features to help manage the producer and agency lifecycle, and can significantly reduce the setup, configuration, and implementation activities and costs that are typically required.
Capabilities and features:
- Provides a single platform for onboarding, administering, and managing the credentials of an insurance company's agents, brokers, and distribution alliance partners.
- Consolidates or replaces many legacy producer administration and credential systems, such as spreadsheets and databases, to a single platform.
- Has automated, streamlined workflows for producer lifecycle events including onboarding, terminations, suspensions, contract changes, and credentialing that leverage insurance industry best practices and can be configured with client-specific steps.
- Contains self-service user interfaces that allow producers and agents to complete their onboarding kits, and view and update their information online.
- Includes user interfaces to view and manage complex and flexible agency hierarchies.
- Has flexibility to extend a data model that has thousands of standard attributes based on the IBM Insurance Information Warehouse data model.
- Includes standard integration processes with National Insurance Producer Registry (NIPR) and Financial Regulatory Authority (FINRA) that enable insurance firms to submit requests and synchronize data with regulators.
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