Large and mid-sized insurance carriers are exploring multiple ways to improve their sales and financial growth. Distribution Management systems play a critical role in that as they support to flex and complex commission structure, effective management of distribution hierarchies, streamline compliance activities, provide self-service capabilities, modernize compensation capabilities along with integration with core vendor policy and billing systems, and many more.
Our domain and product experts have expertise in leading distribution and commission solutions. At Coforge, we work closely with the industry to build relevant 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.
Coforge’s insurance growth accelerators in this area are categorized into:
- Platform – a future-ready digital platform for developing a vision-based roadmap enabling them to achieve growth outcomes.
- Optimize – cost optimization by helping carriers simplify the landscape, produce appropriate projections, and optimize automation needs
- Experience – result-oriented benefits to improve the agent and broker journey
- Analytics – providing 'straight-through appointment' capabilities and applications of advanced analytics in producer management, mobile support for producer/agency management tools, and using CRM solutions for many producer/agency management functions
Our deep domain expertise in the property and casualty insurance space helps us understand the key challenges of the insurance carriers in distribution management. We built these growth accelerators during our long journey and exposure within the industry. These solutions provide result-oriented benefits to the carriers, examples of which include improved agent & broker journey, cost optimization, and landscape simplification - improving overall growth for both the agents/brokers and the insurance carriers.