Integrating alternate distribution
Integrating alternate distribution channels to fuel growth for insurance carrier
The client, a relatively new entrant in the insurance market identified alternative distribution channels as their go-to-market strategy.
To meet this objective, they wanted a new system to manage the diverse business rules and incentive mechanisms of their channels and partners.
The client chose Mastek's Elixir Channel Management solution for its proven speed of implementation, the flexibility it afforded and the breadth of its functionality.
The "Conference Room Pilot" approach shortened the timescales for implementation. The business parameters provided in Elixir were configured to their requirements before customisation. Business rules for different distribution channels were configured and incentive schemes implemented using Elixir's flexible incentive rule engine.
Elixir was tightly coupled with the client's policy administration system, human resource system and payment system thereby providing a completely integrated solution. The automation in the channel administration coupled with timely and accurate distribution of compensations resulted in reduced cost to service channels.
The Elixir Channel Management solution allowed the client to expand their channel network within a short span and make a significant impact on the market in the process.
Engagement Facts
- Automated Agent Management System
- Ability to introduce new channels quickly
- Extensive reporting options
- Built-in sales analysis options
Technology Facts
- Interface: Java/JSP
- Platform: Java/J2EE (JDK 1.3)
- Middleware: IBM WebSphere Application Server
- Database: Oracle
- Development Tools: Rational Rose and ERWin , J-Builder