SymbioSys Distribution Management Solution (DMS) by C2L BIZ recognized for its functional prowess in Celent Report 2022
Celent Report, “Insurance Distribution Management Solutions” published in August 2022 acknowledges the solution in multiple categories
September 27, 2022. Mumbai. C2L BIZ Solutions, a leading Insurtech and IT solution provider with a range of innovative and state-of-the-art solutions, today announced that they have featured in the prestigious Celent Report, “Insurance Distribution Management Solutions” published in August 2022. Their SymbioSys Distribution Management Solution (DMS) has been acknowledged under the “Functionality Standout” category in the global insurance market outside of North America.
“Being named as a “Functionality Standout” by Celent acknowledges the robust set of features currently available through SymbioSys DMS” said Karen Monks, Senior Analyst at Celent. SymbioSys DMS offers insurers a modern, SaaS based solution with broad functionality to meet the commissions, performance management and payment needs of insurers looking for a new distribution management solution.
“With this acknowledgement, the advantages of cloud SaaS pay-as-you-go models for easier adoption of granular microservices are evident. It will bring the strategic focus to truly transform insurers’ distribution landscape, lower time to market, reduce total cost of ownership, and improve business agility while being aligned with global best practices”, says Co-Founder and Executive Director of C2L BIZ Solutions, Vijay Chavan.
SymbioSys DMS comprehensively transforms Onboarding and Licensing, Hierarchy management, Compensation and Performance management, Finance management capabilities across Life and Annuity, Property and Casualty, and Health lines of business. The solution has been designed with best-of-breed low-code/ no-code designs using the industry’s security best practices and implemented securely with proper input and output validation to minimize vulnerabilities, affirms the report.
The report co-authored by Karlyn Carnahan and Karen Monks, provides an overview of the distribution management systems available globally, outside of North America, for insurance carriers. The report profiles nine distribution management solutions, providing an overview of their functionality, customer base, technology, implementation, pricing and support.
For insurance companies to be future-ready and evolve at the pace of the rapidly emerging distribution needs and models, it is pertinent to build a resilient distribution enterprise for the emerging ecosystem. Celent’s analysis of SymbioSys DMS upholds the potential of the solution in the insurance ecosystem.
About SymbioSys DMS
C2L BIZ’s SymbioSys Distribution Management solution was proposed to help the insurer reach its objective in the shortest possible time. The state-of-the-art solution with defined modules for all the set-out for functions proved to be the right fit for their needs. SymbioSys DMS is an industry-proven solution that has seen 17 insurance carriers derive measurable benefits in more than 9 countries. The solution is agnostic to the line of business and has relevant experience with Life, Non-Life, and Health Insurers. Armed with the underlying philosophy of low code- no code, SymbioSys DMS allows most functions and operations through configuration using intuitive screens. With effortless setting up of agent hierarchies, commission and other rules, payout processing, etc the solution is helping its 17 insurers already deliver strategic advantage to the distribution teams in this highly competitive market.