Overview

One of the leading Japanese Life Insurer which is a part of HK headquartered insurer who has been assigned strong financial strength ratings by International agencies like Moody's and Fitch.

Challenges

  • Existing Policy Admin System, unable to administer end to end distribution compensation needs
  • Challenges to onboard diverse channels/ partners in a short time
  • Unable to support assessment ranking-based compensations comprehensively
  • Build robust distribution pay-out management to meet the rapid growth

Business Needs

  • Independent channels and brokers registration and maintenance
  • Hierarchy Management for multiple IFA’s and another monitoring channel
  • Capabilities to reduce time to market for new channel partners
  • Each agency/tied agent has multiple assessments which are sourced from external systems

C2L BIZ Solution

  • End to end automated IFA channel registration and administration module
  • Easily configurable IFA based on different Rank, Rate, Commission Payment Type and QC(Quality), Assessment payment rate was derived based on rules
  • Unique monitoring and administrative hierarchy was set up for the IFA’s
  • Seamless Integration with multiple external systems beyond PAS for sourcing different ranks, rates, Commission Payment Types and QC(Quality) etc
  • Automated Processes allow the setting up of Jobs to be executed on a Monthly and Yearly basis and based on the Payment cycle

Benefits

  • Automations in monitoring diverse producing and monitoring channels in a unified system.
  • Reduced time to launch assessment-ranking based compensations
  • Seamless digital communication, statement of Accounts, and self servicing
  • Nearly 4000+ partner agencies and 3 broker agencies registered since the launch of the business and are regularly administered in the system.
  • 50% drop in Payout time

Services Delivered

SymbioSys DMS Implementation and Integration with core systems

Distribution Operations Transformation

Post Implementation Warranty and Production Support Services

Quantified Stats

3 Yrs+

In Production
Usage

4000+

Agencies
Administered

12500+

Partner
Branches

3,00,000+

Agent
Onboarded

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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