Overview
SymbioSys Incentive is a one-stop service for Insurers that provides flexibility to address your business needs and thus ensures that the incentives work completely for their desired objectives. Said Service uniquely addresses the incentive needs of all types of insurers' policy contracts, esp. Life, Annuity, Pensions, P&C, Group Life & Health. It ensures, all your distribution channels and partners are well motivated to deliver the results.
SymbioSys Incentive has a proven track record and is being used by 14 delighted insurers across 9 countries and powers over 500 unique incentives. It is capable of handling high volumes – with over 10 million policies processed and over 4 million advisors processed across all implementations.
Availability:
On Premise
On Cloud
Functional Overview Diagram
Business Challenges
- Time to launch new incentive
- Cost to launch new incentive
- Manual incentive computations due to system limitations
- Computational errors leading to distributor dissatisfaction
Business Drivers
- Reduce distribution operation cost
- Quick launch of incentives
- Faster incentive disbursement
KEY FEATURES
- Enhance adaptability thru different types of year, block of business, cooling-off period, review period etc.
- Change an on-going incentive definition and/or parameter(s) from effective date with versioning.
- Waiting period to manage peak volume
- Dry run to publish intermediate results
- Simulate incentive
Business Benefits
- Attract and motivate distributors thru innovative incentives
- Drive product sales thru premium weightages
- Improve sales thru catch-up feature, periodic information sharing
- Drive competitive advantage thru Improved time to market, reduced operation cost
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.
Motivating Agents for Self-Servicing with Accurate & Real-Time Performance and Information
One of the fasted growing & leading Digital Insurance companies in South East Asia with a line of business spanning…
Insurer leverages millennials as a new channels with Innovative performance linked salaries
One of the rapidly growing Indian Life, a JV of the insurer headquartered in Europe with a large Indian Retail…
A leading Malaysian Insurer leveraged SymbioSys DMS for ensuring regulatory compliant compensations
A leading international financial services organization, with a strong reputation for business practices, community contributions and sustainability.
