The said insurer is a part of one of the world’s most financially secure insurance groups with over USD$200 Billion in assets and operates its Malaysian business through broad distribution network of multiple channels esp. agency, brokers, intermediaries and bank partnerships.
The trusted insurer has decided to replace its recently implemented European headquartered, performance management System, after a thorough evaluation and comparison with its needs to sustainably transform and be more resilient, automated, and digital ready.
Insurer also wanted to truly leverage the opportunity from emerging regulatory and compliance requirements for higher transparency driven by Malaysian regulator BNM’s (Bank Negara Malaysia) Life Framework.
SymbioSys Distribution-as-a-service from C2L BIZ’s SymbioSys SaaS Suite is the insurance industry’s microservices-based, API enabled cloud platform for Insurance industry. SymbioSys Distribution-as-a-service & SymbioSys Distribution Management Solution has set pioneering benchmarks for performance and compensation management configurability and capability to fit into any API ecosystem.
Combined with C2L BIZ’s suite of SymbioSys SaaS Suite, C2L BIZ will provide the admired insurer with end-to-end differentiating capability to attract, motivate, retain, learn, and grow it partner, advisor networks for higher performance in digital age. C2L BIZ will not only automate its most complex compensations but will help it to learn and adapt more rapidly with SymbioSys Distribution Management Solution’s pioneering Balance Score Card Engine”.
“Distribution performance is of highest priority for insurers, particularly in changing digital ecosystem,” said Vijay Chavan, Co-Founder and Executive Director, at C2L BIZ. “To drive performance, insurers need to rapidly learn & adapt their performance KPI’s and disseminate results quickly to drive sales performance. New age models allow insurers to creatively adapt their distribution compensations better and align to insurers long term business and quality goals. With Cloud SaaS based pay-as-you-go models owning and using the system couldn’t have been easier for insurers.”