Distribution and Compensation Management
The Life & Annuities insurance carriers are exploring ways to improve their sales and financial growth. Agents are business enablers for Life & Annuities (L&A) carriers - with seamless management of agent incentives and commissions as a key success factor for their business growth.
Some of the key capabilities of modern distribution & compensation management systems include:
- Streamlining compliance activities of agents by jurisdictions and lines of business, including integration with National Insurance Producer Registry (NIPR)
- Agent segmentation to enable targeted offerings
- Ability to develop complex and innovative compensation plans – commissions and secondary compensation
- Flexible payment frequencies and payment options
- Easy-to-use user interface to manage distribution hierarchies across channels and lines of business
- Analytics to measure product performance, productivity, and profitability
Coforge has a team of domain and product experts who have the expertise in leading distribution and commission solutions. We partner with leading L&A carriers globally to build growth accelerators around new age distribution management. Our insurance accelerators include a dedicated agent and broker experience platform, cognitive machine vision-based solutions, and predictive analytics-based enablers.