C2L BIZ, a leader in Digital Distribution solutions, announced the availability of SymbioSys Incentive as-a-service, which can help Insurance carriers innovate Incentives to motivate distributors and drive business goals. The service includes capabilities that can help Insurance carriers drive specific product sales through premium weightages, increase sales through catch-up features, improve distributors’ experience through periodic information sharing, attract and motivate distributors through innovative incentives, and reduce distribution operation costs.
“In today’s competitive world, the ability to attract and motivate producers/partners and drive business goals, thru innovative incentives, is key to improving value and quality of business,” said Ajay Chaudhary, Product Head – Distribution for C2L BIZ. “We strive to continuously enhance our solution capabilities to provide our clients with an ability to innovate, to drive business goals thru high performing motivated distributors”.
The ability to configure KPI’s based on diverse parameters with automated roll-up based on hierarchies, ease of exception management and defining product-wise premium weightages, ability to handle producer queries with ease, and simulate incentives before launching are critical needs for Insurance carriers.
Some of the highlights of SymbioSys Incentive include:
+ Ease of configuring KPI’s on diverse parameters and roll-up based on different hierarchies
+ Wind back Wind forward of KPIs
+ Ability to define product-wise premium weightages
+ Ease of defining different types of year, block of business, cooling-off period, review period, and waiting period
+ Ability to change ongoing incentive with effective date and versioning
+ Intermediate reporting to distributors
+ Incentive re-computation
+ Incentive simulation
“These features have been put into use by our clients to improve value and quality of business, motivate distributors and improve the effectiveness of every Incentive. Our customers configure Incentives on their own, as the Incentive Configuration is simple to use and intuitive,” commented Bhavesh Lalan, Co-founder, Chief Technology and Product Officer of C2L BIZ.
The Incentive processing is used by 16 Insurers and has already configured over 500 Incentives.
About C2L BIZ:
C2L BIZ, an InsurTech company, with state-of-the-art products focused on Digital Sales, Distribution Compensation Management, Underwriting, and Claims Management. Combining domain expertise and focus on business outcomes, we have transformed the Sales and Distribution operations of over 40 Insurers across 12 countries, powered by a highly configurable, low code SymbioSys product suite. With over a decade of driving innovation, Insurance companies trust C2L BIZ to deliver technologically advanced solutions to improve competitiveness, customer and distributor experience.
Learn more about C2L BIZ at www.c2lbiz.com