- 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
- 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
- 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
Distribution Product Implementation and Integration Services
Comprehensive Business Solution to handle Performance Management
Synchronization of documentation on AWS
Active Employees monitoring
the performances of Agencies,
Partners, Banks and Agents
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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