C2L BIZ Solutions today announced the availability of its SymbioSys suite in the Microsoft Azure Marketplace, an online store providing applications and services for use on Azure. C2L BIZ Solutions customers can now take advantage of the successful and proven SymbioSys Saas on the productive and trusted Azure cloud platform with pay-as-you-go models.
C2L BIZ offers the SymbioSys suite in a software-as-a-service (SaaS) model for insurers across global markets. The suite includes its flagship SymbioSys Sales Tool (a point-of-sales solution), SymbioSys Distribution Management (for channel performance and compensation), and services like SymbioSys Product Configurator, SymbioSys Underwriting, and SymbioSys Claims. Its SymbioSys suite has consistently delivered sustainable digital transformation in implementations across 12 countries and 100+ engagements with 40+ insurance carriers.
SymbioSys Sales Tool is a comprehensive sales enabler that empowers producers to manage the end-to-end sales process, encompassing lead activity, collateral management, financial need analysis, product recommendation, sales illustration, e-application (including document and signature capture), field underwriting, and payment processing on a handheld device, in both connected and disconnected modes. Its unique diﬀerentiators are extensive conﬁgurability, wide OS support, and maximum offline capabilities that include oﬄine ﬁeld underwriting for quick sales closure, with proper controls.
Key benefits delivered
- To quickly adapt to evolving business changes, products, channels, compliance diversities effortlessly with best of breed configurators
- True omnichannel capabilities for diverse users, channels, point-of-sales stations, and aggregators across multiple platforms (tablets and laptops) and OS (Android, iOS, and Windows)
- Improved customer engagement and consultative selling with efficient sales closures using solvers for proactive customer objection handling
- Significant improvement in the NIGO (Not-In-Good-Order) rates and STP rate, with configurable auto/field underwriting process and decisions
- Handshake seamlessly with digital ecosystems with ready and real-time API/SDK microservices
SymbioSys Distribution Management is a unified enterprise service to manage all types of advisor and agent registrations, diverse hierarchies, agent movements, performance, persistency, advisor segmentation and rating, incentives, contests and campaigns, compensation, payout, and finance. It can seamlessly adapt for the needs of multiple distribution channels (captive agency, BANCA, brokers, IFAs, general agencies, etc.) across various lines of business (life, group life, health, P&C). It empowers and improves organizational resilience for adapting to new-age business strategies: newly evolving distribution models or channels, offer incentives for digital sales, segment-based compensation rules, and differentiated services to partners, like pay commission on a daily basis or at the frequency as desired by business.
Key benefits delivered
- Significant reduction in the cost of distribution performance management
- Better alignment and tracking of sales force compensation to company strategy
- Enhanced ability to attract, motivate and retain partner and field force
- Improved digital time to market for launching new channels, partners, and innovative contests, incentives, or campaigns, with the ability to seamlessly integrate third-party solutions with ready APIs
- Improved analytics and intelligence to simulate compensations to learn and change
“True digital and distribution transformation is now mandatory, particularly in the changing digital ecosystem of the post-COVID world. SymbioSy SaaS Suite’s availability on Microsoft Azure will help insurers expedite their digital journey in the rapidly emerging digital ecosystem without impacting existing investments in core systems. Symbiosys Suite, due to its SaaS abilities for digital omnichannel and distribution transformation, will provide a quicker adoption with minimal upfront investments,” said Vijay Chavan, Co-Founder, and Chief Strategy and Executive Officer, C2L BIZ.