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.
