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In an interview with AM Best TV, Allister Yu, VP of Operations at Rhoads, said organizations that focus on learning from their own information can become more efficient and make informed decisions.

Listen to the exciting new podcast episode of Risk Management: Brick by Brick, with top figures in the world of risk management. Insurance and technology expert Allister Yu, the Senior Vice President of Operations at Rhoads is one of the guests on the podcast in the May episode. Allister highlights the top technology trends to help insurers comply.

Congratulations to our Allister Yu, who was just featured on AM Best’s podcast hosted by John Weber, explaining that companies must make sure their distribution partners are properly credentialed as insurance markets rapidly change!

In 2021, nearly 25% of all carriers were subject to an exam with states collecting nearly $208 million in fines and penalties.

The insurance industry is behind the curve in terms of the modernization of its compliance processes.

From individual producer licensing by state to carrier appointments, regulatory compliance is a complex and ongoing process. And it’s getting even more complex, with constantly fluctuating state regulations and an increasing number of licenses per producer.

The lack of awareness regarding regulatory compliance in the insurance industry is alarmingly rampant! Allister Yu shared his thoughts with Insurance Innovation Reporter on how to Brokers and Carriers can navigate and drive profit in a constantly changing environment.

With profits predicted to be flat across most insurance sectors, insurance companies cannot afford any compliance or regulatory mishaps.

Allister Yu had the opportunity to sit down with Mark Hollmer of Insurance Business America to discuss the Role of Rhoads within the Insurance Compliance and Tech industry.

Catch up on the latest Regulatory changes and updates from the past 30 days.