Compliance Support
Compliance SupportSimplifying Regulatory Requirements
Compliance
Mitigate Risk. Safeguard Reputations.
The life settlement market can be overwhelming as new laws and regulations require market participants to comply with changing requirements that differ from state to state. For example, full transparency of not only commissions, but also counter-offers and rejections is necessary in a growing number of jurisdictions.
PolicyTrac allows the effective communication of bids within moments of input and case summary and status reports can be generated to help fulfill this disclosure requirement. In addition, aggregated transactions must be submitted to certain jurisdictions, both on a statewide and national basis, and PolicyTrac automates such information in a clear, easy manner through its basic and enhanced reporting modules.
Furthermore, PolicyTrac compiles licensing profiles on both distribution network members and providers in order to automate case submissions from one licensed party to another. The system is updated regularly by verifying provider licensing directly with each state's department of insurance and crosschecked with each provider.
