Overview

A leading international financial services organization, with a strong reputation for business practices, community contributions and sustainability. The company provides a diverse range of protection and wealth products and services to individuals and corporate customers. It has been named as one of the Global 100 Most Sustainable Corporations in the World.

Challenges

  • Integration with multiple Policy Admin Systems (PAS)
  • Significant issues on Quality of Policy Data for migration,
  • Majority of Agency data (for migration) was maintained manually
  • Regulatory – Stringent deadline for implementation of Balance Score Card (BSC) requirements
  • Requirements were evolving based on inputs from Regulator

Business Needs

  • Transform manual distribution operations into an Integrated, rules driven, workflow enabled and agile operations
  • Implement Balance Score Card based channel compensation before the regulatory deadline
  • Provide consolidated and up to date information for powering the channel portal with self service capabilities
  • Visible/transparent Underwriting Data of pending Policies
  • Self-Registration for Customers and Agents

C2L BIZ Solution

  • Transformed the existing manual distribution operations with SymbioSys DMS Best Practices including pay-outs by Finance department
  • Leveraged C2L BIZ’s proven Migration and Integration methodology along with Migration layer / Interface mapping template for faster and predictable historical data migration
  • Robust SymbioSys DMS configurator helped in accommodation of dynamically evolving based on Inputs from Regulator
  • An agile and strategic platform to adapt to evolving needs for adding new partners/ evolving regulatory changes, rapidly and with unique differentiations

Benefits

  • Not only successfully rolled out Balance Score Card (BSC) based compensation models as per regulatory needs but also provided a platform to evolve the same with emerging market learnings
  • Over 300 + Key performance Indicators(KPI) were implemented
  • Improved channel Self Servicing with more real-time and accurate data provided to Channel Portal
  • Over Three hundred thousand payable transactions handled, while standardizing the process for Partner pay-outs

Services Delivered

Product Implementation, Migration and Integration Services

Distribution Operations Transformation

Post Implementation Warranty and Production Support Services

Quantified Stats

3 Mn

Policy Records
Migrated

15K

Active Hierarchy
Migrated

3

Total Systems
Integration

300+

KPI’s
Implemented

38

Compensation Schemes
Configured

Case Study

Excellence is not attained in a day! Our teams have worked beyond expectations to attain in-depth knowledge and offer customized solutions to our clients and partners. We carefully analyse our reach and every strategy to stay true to the time.

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