SymbioSys Persistency-as-a-Service enables Insurer to enhance the customer service and improve customer retention thru innovative persistency-based compensations. Insurers can take an informed decision and incentivize the distributors that contribute towards retaining regular policy renewals, thus maintaining higher persistency. This service also helps the insurer to derive advisor ratings and segmentation to motivate the high performing advisors.
It provides flexibility to configure rules to determine policies that need to be considered and computes persistency on either fixed block of business or rolling block of business based on the business objective.
SymbioSys Persistency is being extensively used across 14 delighted customers from 9 countries and processed over 10 million policies. Over 50 unique persistency rules measured across 5+ million advisors from 4 different channels.
SymbioSys Persistency-as-a-Service is designed for the global insurance persistency needs and is proven with unique capabilities like:
+ Ability to measure persistency at all levels of hierarchy – Individual, Group, Geography, Channel and at Company level
+ Timely and accurate persistency processing
+ Ease of measuring persistency based on API / APE, Case Count, Premium and Face Amount / Sum Assured for rolling and fixed block of business
+ Ability to incentivize internal staff servicing orphan portfolio by measuring persistency
+ Ability to separately process persistency-based compensations for rookie and experienced advisors
+ Handshake seamlessly with digital ecosystem with ready real time API interfaces
Timely and accurate Persistency processing
Ability to measure persistency for rolling block of business
Ability to measure persistency at all levels of hierarchy
Ability to measure persistency at all levels for informed decision making
Incentivise distributors having higher persistency
Incentivise internal staff servicing Orphan portfolio by measuring persistency
Drive persistency thru innovative persistency base compensations
Improve customer retention by measuring persistency
Enhance customer service thru Persistency based compensations
Persistency measurement for Rolling and fixed block of business
Basis API / APE, Case Count, Premium and Face Amount / Sum Assured
Flexible block of business
Separate for Rookie and experienced advisors
Personal, Group, Geography, Channel and at Company level