Primerica Saves Significant Costs by Managing Licensing Requirements with an LMS

client snapshot

Primerica’s roots date back to 1977 when the company began a revolutionary crusade to transform the life insurance industry. Primerica originated the “Buy Term and Invest the Difference” philosophy which encourages families to purchase affordable term life insurance so they can get the protection they need at a price that can afford and have more money to invest in their family’s future.

This groundbreaking philosophy has been a significant piece of their foundation even as they diversified and expanded over the years. Today, Primerica is positioned for exponential growth and to transform the financial services industry.

key points

  • Primerica needed a more efficient way to manage licensing for over 1,000 insurance agents
  • By leveraging the eSSential LMS, Primerica is able too report and track continuing education curriculum for a large, diverse agent population from a single location
  • Primerica’s agents are now able to print necessary certifications & documents on their own, freeing up administrators to focus on the company’s growth
  • Transferring live training registration and management to the eSSential LMS has produced significant time savings for both administrators and agents

The challenge

Keeping track of licensing curriculum and requirements for its large agent population was a time-consuming task for the company. Primerica needed the ability to deliver pre/post-license curriculum for their large agent population as well as provide a single location to deliver and track continuing education curriculum.

Another driving factor for implementing an LMS was the need to improve the training registration process. At the time of their LMS search, Primerica delivered over 1,000 instructor-led classes a year and had no centralized system for managing sign ups and attendance.

Being in the insurance/finance industry, Primerica must adhere to several state standards and regulations. All reporting has to be sent to the Department of Education and meet all guidelines for each of the states and countries with whom they do business. Primerica needed an application that would easily integrate their current reporting system.

the elogic solution

Primerica selected the eSSential LMS because of eLogic Learning’s commitment to understanding Primerica’s business inside and out. The eLogic team developed a full understanding of Primerica’s vision and crafted a custom solution that would fully meet the company’s intricate needs.

Implementation followed a three-phased approach. This approach included setting up online training courses to be accessible through a “Smartlink” so agents could access certification courses on a 24/7 basis with one click. Over 1,000 instructor-led courses were also imported into the LMS so agents could sign up for pre-licensing and other required courses conveniently online. The system was further customized to meet all industry requirements from states with low regulations to highly regulated states.

Throughout each phase of the process, the eLogic team performed thorough testing and analysis to ensure system performance and communicated openly with Primerica at all times.

the results

Implementing eSSential has created significant efficiencies for Primerica, freeing up administrators to focus on the company’s growth. In the past, course completion documents had to be physically mailed to participants. With eSSential, end users now have the ability to print necessary documents and certificates on their own. Documents can also be transferred to governing bodies electronically, saving valuable time.

Using eSSential’s event management features made signing up for training a faster process for agents and gave administrators the ability to manage training events more efficiently. Primerica was able to reach thousands across the country at one time and increase the efficiency of their workforce. Over 600 pre-license courses have been delivered per week in eSSential since implementation.

As additional phases have been rolled out to replace classroom scheduling and as courses have been expanded into Canada, Primerica’s savings have multiplied.

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