Equisoft/Centralize

A distributor back-office system connecting all stakeholders for streamlined insurance distribution and commission management.

Equisoft/centralize is an insurance distributors management system (agencies such as wealth management department of bank and master general agent MGA) that sell insurance. It provides complete record-keeping of clients, policies and brokers for multiple carriers. Data from certain carriers is ingested on a recurring basis through standardized ACORD files (in Canada, CITS compliant files). It has complete workflow management to track the sales and new business underwriting process. One of the main benefits of the solution is that is tracks commissions due and paid directly, reconciles with payments received from carriers and identify errors (commonly made by carriers). It also has sophisticated hierarchy management to allocate these commissions to the right parties in the organization's structure. It also offers a portal for agents to see their portfolio. Centralize has dozens of out of the box reports to track production from agents and the firm in general.

Lead Tracking

• A mobile application to create and follow leads including estimated revenues.

New business workflow

• Insurance typically takes 50 days between the time an application is entered and the time the policy is issued. In between are a series of events that need to happen, such as a paramedic exam, a request for a doctor's medical records, requests for the insured to fill extra questionnaires, counteroffer acceptance, etc. All of these are tracked using the workflow system so that the agent and his admin support see at all times what is holding the approval.

Commission process

• The system supports all standards of commission. It also supports fully custom compensation.

Reports

• More than 50 reports to slice and dice the business of an agency or an agent. How many policies were sold, what kind and what commissions to expect is the typical information required.

• Best of breed design and business process.
  • The system has best in class business processes pre-built
  • Integration with carriers for CITS (ACORD)
• Lower implementation timeline and budget.
  • The system is ready to use compared to say BlueSun. No configuration required.
• Knowledge of the team / Best operational practices
  • Team has more knowledge than most distributors about their own business because we have done this so many times.
  • Approaches to converting data and cleaning up commissions structure almost always better than what even large banks can think of.
  • We also offer mini-BPO services sometimes because we have senior operations people.