Working in a large insurance company, your typical day is anything but typical. The complexities you face managing distribution result in some of the most unique demands within the business world. Your technology solution has to be just as unique. Elixir Distribution Management gives you the flexibility to manage the complexities of the distribution landscape using technology that can move your company in one direction - Forward!
Features
Elixir Distribution Management's powerful technology tools allow you to better manage the entire agent life cycle by utilising:
- The Agent Life Cycle Manager to manage diverse channels and administer products.
- Handles the entire appointment process,
- Provides producer information management, an audit trail of everything from contacts to work experience
- Integrates licensing procedures with multiple service providers, ensuring regulatory compliance
- The Compensation Manager to align producer compensation plans with business strategy.
- Rules Based Commission Engine handling flexible commission contracts and changes
- Supports uploading commission rate tables, high-volume compensation processing, automating commission advances, charge-backs on policy events, commission sharing and adjustments
- The Performance Manager to find out the best performing producer.
- Cutting-edge technology compares agent and channel performance against a wide range of parameters, including targeted sales versus actual sales
- Ability to define and evaluate dynamic Key Performance Indicators, giving you access to powerful new tools to maximise productivity.
- The Agent Portal to make your company look more attractive to top producers.
- Advanced technology enables the exchange of information while serving the exact needs of agents
- Provides agents with real-time access to electronic commission statements, dispute resolutions and online approvals by managers for requests
- Provides complete information management of agent portfolios, production, contests and standings
Benefits
- It reduces operational costs due to reduced resource requirements and increases productivity in activities like licensing, commission processing, query handling, contest management and MIS
- It provides flexibility in defining compensation rules and payment schedules through the Compensation Manager
- It provides timely and accurate commissions to curb commission leakage
- It gives producers improved service levels
- It reduces IT maintenance and support costs through system consolidation