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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