Asia-Pacific Insurance Distribution Management Systems

Growth Through Superior Producer Service
by Wenli Yuan,  KyongSun Kong, May 22, 2013
Vendor Reviews
Asia-Pacific

Abstract

How can insurance companies grow their business in a meaningful manner? Celent believes that effective producer management is an untapped area of competitive advantage.

In the report Asia-Pacific Insurance Distribution Management Systems: Growth Through Superior Producer Service, Celent profiles the vendors servicing this market. The goal in conducting this detailed data analysis and in talking to key players is to provide comparative data that will help insurers shortcut the process of evaluating distribution management vendors.

Celent believes there is an opportunity for insurance companies to gain market share through the execution of a strategic approach to producer lifecycle management.

“Insurers can gain competitive advantage in their distribution efforts if they bring together and consolidate these processes to create an integrated approach that delivers higher quality service, more reliable information, and lower costs,” says Wenli Yuan, Senior Analyst with Celent’s Asian Financial Services Group and coauthor of the report.

“The producer management lifecycle is characterized by multiple activities and numerous handoffs,” says KyongSun Kong, Analyst with Celent’s Asian Financial Services Group and coauthor of the report. “Distribution solutions that increase coordination and consistency improve agent service, decrease expenses, and attract business.”

Celent analyzes six vendors using its ABCD analysis framework to present a comparative view of the vendor marketplace that visually represents four elements: Advanced technology and technical flexibility, Breadth of functionality, Customer base, and Depth of client services and solutions. Additional information is provided for emerging solutions. Vendors included in this report are: AETINS Sdn Bhd, C2L BIZ Solutions, Herald Logic, IBM Corporation, Infosys, Mastek Ltd., MphasiS Limited, NTT DATA FA Insurance Systems, Polaris Financial Technology, and SinoSoft.

This 78-page report contains nine figures and 57 tables.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

Introduction

2

Distribution Management Systems: Definition and Functionality

4

 

Definition

5

Report Methodology

6

 

Criteria for Inclusion

6

 

Evaluation Process

6

Celent’s ABCD Vendor View

8

 

The XCelent Awards

9

About the Profiles

11

AETINS Sdn Bhd: ISF Agency Management

12

C2L BIZ Solutions: Symbiosys - Distribution Management System

22

Herald Logic: IntelliRADAR Channel Management System

32

Mastek Ltd: Elixir Distribution Management

42

MphasiS Limited: Wysnure Commissions Model

52

Sinosoft; Distribution Channel Management System

62

Emerging Solutions

72

 

CSC: PerformancePlus

72

 

IBM Corporation: IBM Cognos Incentive Compensation Management (Cognos ICM)

73

 

Infosys PMACS - Producer Management and Compensation System

74

 

Polaris Financial Technology: Intelligent Agent Portal

75

 

NTT DATA FA Insurance Systems: FirstLife Agency Component

76

Leveraging Celent’s Expertise

78

 

Support for Financial Institutions

78

 

Support for Vendors

78

Related Celent Research

79

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