Majesco Distribution Management
Overview
A powerful insurance distribution management platform that enables the creation and execution of innovative distribution strategies to optimize existing insurance distribution channels and expand to new ones.
Your insurance distribution strategy is an increasingly vital determinant of business success in today’s rapidly changing industry. In this ever-changing business landscape, insurers must rethink their insurance distribution strategy and execution; namely to one that uses a digital, multi-channel focus – from back to front office, and from an internally-focused business model to one that considers the distribution ecosystem – across the entire distribution network.
Majesco Distribution Management delivers the agility you need to manage the innovations and complexities of a changing insurance distribution ecosystem. It uses technology that keeps insurers on the leading edge, to improve speed to market for new compensation plans, distribution models and new channel partners, and to optimize existing channels through advanced, data-driven analytics. It has a highly configurable platform, market ready services, and an intuitive user interface that is easy to integrate with insurers’ core systems.
Key Features
- Comprehensive onboarding workflow
- Supports electronic state appointments & terminations
- Real-time Producer database (PDB) integration
- Set up & manage complex n-tier distribution hierarchies
- Manage simple to complex (tiered, sliding scale, levelled) commssion schedules as rules / configurations
- Track producer performance against host of carrier specific KPI's
- Evaluate & disburse contingent commission, bonuses, profit sharing plans
- Manage adjustments & payment workflow
Key Benefits
Majesco Distribution Management provides a robust distribution management platform for insurers’ business…today and in the future.
- Eliminates dependency on 3rd party vendor for electronic appointment capability
- Quick time to market for commission changes
- Optimized lifecycle management of diverse channels
- Ease & lower costs of maintenance
- Integration simplified with out-of-the-box APIs
- Scalable to meet demanding volumes as a result of business growth
