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Industry Challenge

Department of Treasury regulations require insurance companies to train insurance producers and brokers regarding responsibilities related to anti-money laundering (AML), including identifying suspicious customer behavior and transactions as well as procedures to report suspicious activities. An ongoing training program is a core element of compliance with anti-money laundering regulations.

RegEd Solution

RegEd’s Anti-Money Laundering (AML) Program enables producers to fulfill AML training requirements and then share those results with all participating carriers. Once AML courses are completed, the system automatically notifies carriers of the completions using data exports, thus resulting in decreased producer downtime.

Completing anti-money laundering training and notifying carriers and distributors of course completion is easy through RegEd’s Industry Training Platform (ITP). ITP is the industry-wide solution that enables producers to complete mandated and carrier-specific training on one shared platform. Once a producer completes carrier-specific training through ITP, the platform automatically notifies all associated carriers and distributors. Carriers and distributors also have access to the platform and can run reports to verify course completions and identify any gaps in training as necessary.

Distinguishing Capabilities

  • Delivers training to insurance and securities professionals across the organization.
  • Provides intuitive, powerful reporting, enabling administrators to monitor requirements and completion status.
  • Offers a streamlined user experience that enables producers to satisfy AML training requirements with minimal disruption.
  • Generates automated reminder emails to producers to help them stay on track with training requirements.

Key Benefits

For Carriers

  • Producers are trained on one efficient platform and course completions are quickly and easily reported to multiple carriers.
  • Carrier-specific courses are easily assigned to producers and can be updated frequently.
  • Online producer search displays real-time results.
  • Data feeds, customized reporting and real-time calls to the RegEd database enable carriers to maintain compliance with regulations.

For Distributors

  • Producers are trained on one efficient platform, reducing overall training time.
  • Course completions are quickly and easily reported to multiple carriers, reducing confusion.
  • Carrier-specific courses can be efficiently completed by producers; updates are easily assigned and re-taken by producers.
  • New producers may not need to complete training as part of the new hire process – their training on the platform will move with them.

For Producers

  • Producers are trained on one efficient platform and course completions are quickly and easily reported to multiple carriers.
  • Carrier-specific courses can be efficiently assigned to and completed by producers.
  • Emails alert producers when a carrier course must be completed or when it must be updated.
  • Easily track, monitor and fulfill your required course completions from a single platform.

Getting Started

To complete the required training, producers simply follow three easy steps:

  1. Register as a user on ITP by going to https://secure.reged.com/AMLTrainingPlatform/.
  2. Complete your required training.
  3. Complete carrier-specific courses as they are assigned to you.

Upon completion of carrier-specific training courses, RegEd will automatically notify the affiliated carriers and distributors that training has been completed.

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