Rhoads

Rhoads specializes in automated compliance solutions tailored for the insurance industry. Its core offering, the PCRM platform, is an insurance compliance software designed to enhance operational efficiencies for its clients.

The system facilitates streamlined onboarding of new producers and ensures adherence to compliance mandates.

PCRM functions as a centralized repository for information, enabling real-time status updates with producers as internal requests are processed and state approvals are granted. It manages the complete lifecycle of professional certifications. A key capability is its integration with all NIPR (National Insurance Producer Registry) transactions, which supports compliance through just-in-time appointment and termination processing. As an NIPR Authorized Business Partner, Rhoads provides clients with access to the NIPR Producer Database (PDB) and Gateway.

The company targets insurance companies, agencies, and individual producers within the insurance sector. Its solutions are positioned to increase productivity and reduce operational costs, thereby supporting clients' business growth. Bundled with the PCRM platform are support and configuration services, designed to serve as an extension of each client's business environment and requirements. Additionally, Rhoads offers services to manage large-scale appointment and termination activities, critical during events such as mergers, acquisitions, or significant regulatory changes. The revenue model appears to be based on licensing the PCRM software, supplemented by fees for these support, configuration, and specialized processing services.

Keywords: insurance compliance, regulatory technology, producer licensing, NIPR integration, compliance automation, risk management, insurance software, producer management, certification lifecycle, PDB access