Overview
SymbioSys Distribution Management is a unified service to manage registrations, hierarchies, agent movements, performance, persistency, advisor classifications and rating, incentives, contests/campaigns, payments and Finance.
The Insurance distributors (Brokers, Corporate agencies, Banks, IFA’s etc.) can process compensations for various Lines of Business (such as Life, Annuity, Pensions, Group Life, Health P&C) thru seamless integration with Insurers. It provides a lot of power and flexibility to drive your business both as aligned to Insurer’s plan and overall business, across insurers. The compensation rules can be defined by Insurer to align your agreement with Insurer.
Availability:
On Premise
On Cloud
FUNCTIONAL OVERVIEW DIAGRAM
Business Challenges
- Inability to provide differentiated commission / incentive, pay-out schedule to attract and retain key advisors
- Manual and/or multiple disparate systems operating in silos
- Inability to track complete audit and process control to the channel compensations and movements.
- Inability to launch innovative contests, provide up-to-date status to motivate advisors for higher performance
- Timely and Accurate processing
Business Drivers
- Attract new distribution partner and agency force
- Promote digital sales and drive distributors behaviour to achieve business goals
- Motivate top partners / agents
- Improve quality of sales (persistency / balance score card)
- Curtail fraudulent behaviour
KEY FEATURES
- Multiple Hierarchies ‘n’ tiers and parallel hierarchies including partner’s internal organization structure
- Configuration Ease of configuring new channels, partners, producers,
compensation rules - Agent Payment Distribution into multiple bank accounts, multi-currency
- Commission Daily commission payments for newly launched product
- Commission Reconciliation with commission received from each Insurer Carrier
- What-if Model Simulate new incentive and/or contest models before launching them
Service Benefits
- Significant reduction in cost of Distribution Management
- Enhanced ability to attract and retain partner
- Improved time to market for launch of innovative contests / Incentives
- Ease of aligning sales force to company strategy
- Improved time to market for launch of new channels / partners
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.
Automation to Support Rapid Growth with Resilient Digital Capabilities
One of the leading Insurance companies in South East Asia with a line of business spanning Life Insurance, Medical and…
