One of the rapidly growing Indian Life, a JV of the insurer headquartered in Europe with a large Indian Retail group.
Client, has pioneered many initiatives in the distribution of insurance through malls and also through conventional agency and partner channels.
It had evaluated various options and had unfavourable experience with a past solutions being used for the channel management.
- Adapting new business process to meet the unique needs of diverse partners and their compensations
- Effectively and efficiently handle the divers geographical and internal monitoring structures in addition to regular reporting hierarchy
- Efficient integration with Policy Admin Systems Viz Life Asia / Group Asia & Finance GL System.
- Need to handle multiple exception scenarios and dynamically evolving channel contests and awards.
- Significant issues on Quality of Data for migration
- Transform manual distribution operations into an Integrated, rules driven, workflow enabled and agile operations including pay-outs and taxations.
- Providing comprehensive Channel management for all the existing channels Agency, Mall assurance, Partners, Brokers etc.
- Diverse Performance measures, and verifying against Targets and flexibility to define diverse types of contests, benefits, awards.
C2L BIZ Solution
- Transformed the existing manual distribution operations with SymbioSys DMS Best Practices including pay-outs and taxation 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 diverse types of contests & awards, incentives & benefit.
- A solution to adapt to evolving needs for adding new channels/partners with unique differentiations
- Integrated Channel Management Solution which replaces existing system Insure connect.
- Easy to launch new channels, partners, producers vis-à-vis diverse products scalability validations which could be done by business users thus reducing the dependence on IT
- Provided a robust performance criteria definition, using unique KPI engine for defining eligibilities and calculations of all different types of contests, awards, benefits in a unified and re-usable manner.
- Able to conduct dry runs to test out the impact of the configuration in advance of final pay-outs
- Improved operational efficiency by reducing manual intervention of users. Today there are only 2-3 people who are required to manage their entire distribution force.
Product Implementation, Migration and Integration Services
Distribution Operations Transformation
Post Implementation Warranty and Production Support Services
Total Agent volume
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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