Overview
One of the fastest growing Digital Insurance company in South East Asia with a line of business spanning Non-Life Insurance, Medical Insurance, Corporate health insurance. Insurer has been Awarded with ‘23rd Asia Insurance Review Award, Singapore for being the “Non-Life Insurance Company of the year 2019”.
![](https://g8vfcf.p3cdn1.secureserver.net/wp-content/uploads/2020/10/P-blue-T.png?time=1725712452)
![](https://g8vfcf.p3cdn1.secureserver.net/wp-content/uploads/2020/10/D-blue.png?time=1725712452)
Challenges
- Set up Distribution Management System in a short time for unique Non-Life Insurance partnership needs
- Commission sharing across multiple Payee (%) & Pay-out IDs
Tracking various documents required during onboarding and payments that were managed manually. - Tracking commission rates negotiated by the sales team across the country over emails was a mammoth task for HO. This led to a lot of manual errors and dissatisfaction among the partners/agents.
- Managing scheduled and invoice-driven payouts
Business Needs
- Quick onboarding of partners and agents with flexible hierarchy and tracking of the required documents.
- E-Mail based Information dissemination
- Workflow driven approval for negotiated commission rates
- Allowing commission rates to be negotiated within the range prescribed by HO and any exceptions will come to HO for approval.
- Since negotiated commission rates could be finalized anytime during the month regardless of when the policy is issued during the month, commission calculation / re-calculation was needed with accurate posting for payments and the GL system.
- To host applications on cloud infra (AWS)
C2L BIZ Solution
- Partner/Agent Registration with workflow and interfacing to other applications. Able to capture multiple types of hierarchy and each hierarchy can be up to nth tier.
- Integrations are established with multiple in-house systems and with external Regulatory body. These integrations are either Real-time or scheduled batch. The integration with the Regulatory body is to validate the personal ID of the agent during the onboarding process.
- Automated workflow for approval of negotiated commission rate within prescribed limits and exceptional approval for outside prescribed limits with a complete audit trail.
- Multiple commission calculations during the month with differential commission posted to finance on every calculation for a policy.
- Configurable Performance Management for automated Career Progression across Distribution Team
- Integrated with AWS document management to maintain and track various documents required for registration, invoicing etc.
- Configured payment schedules to automate processes as well as tracking invoice-based payments.
- Deployed the application on AWS
![](https://g8vfcf.p3cdn1.secureserver.net/wp-content/uploads/2021/04/C2L-BIZ-Solution-1.png?time=1725712452)
Benefits
- Around 1.5+ million individual payments have already been done
- Ease of splitting multiple Pay-outs & pay-out percentage
- Flexible & Periodic workflow-driven update/approval on Commission Rate with proper Audit Trail maintained. Thus, reduction in lots of errors in commission amounts and adjustments before and after payment cycles.
- Decrease in Payment Verification time from 3 days to 1 day by Automated Bank file generation on a daily basis
- Uploading the invoices for Outstanding Pay-out Tracking & Release
- Flexible payment cycles – Weekly Commissions and Monthly Compensations
Services Delivered
![](https://g8vfcf.p3cdn1.secureserver.net/wp-content/uploads/2020/10/lamp.png?time=1725712452)
Distribution Product Implementation and Integration Services
![](https://g8vfcf.p3cdn1.secureserver.net/wp-content/uploads/2020/10/darts.png?time=1725712452)
Comprehensive Business Solution to handle Performance Management
![](https://g8vfcf.p3cdn1.secureserver.net/wp-content/uploads/2020/10/dartss.png?time=1725712452)
Synchronization of documentation on AWS
Result
3+ Yrs
In Production
Usage
2.5K+
Active Agencies
/Partners
15+
Active
Banks
45K+
Active
Agents
20+
Channels
2 MN+
Policy volume
per month
57K+
Payouts
per month
1K+
Active Employees monitoring
the performances of Agencies,
Partners, Banks and Agents
![](https://g8vfcf.p3cdn1.secureserver.net/wp-content/uploads/2020/10/testimonial-shape1.png?time=1725712452)
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.
ENABLING SALES PROCESS AND INTITUTIVE UI TO ENSURE ADOPTION OF DIGITAL PLATFORM ACROSS ALL CHANNELS
One of the leading Insurance companies in South East Asia providing Insurance, wealth and asset management solution to individual and...
HOW TO SOLVE SILOED SOLUTIONS ACROSS THE END TO END SALES JOURNEY
A leading European insurer offering a wide range of Insurance adopts SymbioSys Sales Tool to strengthen its digital journey to...
End to end automated IFA channel registration and administration module with SymbioSys DMS
One of the leading Japanese Life Insurer which is a part of HK headquartered insurer has been assigned strong financial...
![](https://g8vfcf.p3cdn1.secureserver.net/wp-content/uploads/2020/10/D-blue-T.png?time=1725712452)
![](https://g8vfcf.p3cdn1.secureserver.net/wp-content/uploads/2020/10/shape1.png?time=1725712452)