In this highly competitive and globally sensitive World Economy, Insurance sales team are facing increased pressure due to falling Premium, regulatory compliance, loss of existing Customers to Competition and shifting loyalties of Sales Force. It has become increasingly important for Sales team to have a Robust Channel Management solution that can reduce the selling life cycle by providing instant access to Real time data and manage the relationship with Channels/ Distributors in a more efficient way. Hexaware solution in Channel and Distribution Management System helps in increasing the effectiveness of your Sales organization by enabling.
- Sales Force on-boarding
- Sales Hierarchy Management
- Performance Management
- Incentive Management
- Commission Management
For Sales Director, it provides improved visibility of sales performance and rewards available from the same day across all hierarchy levels. Other benefits of this implementation are reduction in manual process like incentive calculation, improved sales performance through targeted incentive and reward & recognition (R&R) schemes, and transparency of process. Hexaware Channel Management solution has become a tool that the sales hierarchy uses to manage business access of real-time data to make fast business decisions, prioritize, track and manage activities through to completion, and reduce sales cycle.
Insurance Dashboard is an open, flexible, web-based solution to provide real-time information to agents and customers. The features include:
- Information on policies, claims and billing. It also eliminates manual processes for routine tasks such as payroll audit reporting, claims reporting and issuing certificates of insurance
- The 24*7 access to the system provides increased availability and agents and carriers are able to conduct their business any time of the day
- Automation of the routine tasks reduces the workload for call centers and allows carriers to focus their efforts on business development
- Provides a rich set of reports including, Agents Book of Business, Commission Report, Loss Run Reports, Billing information and others
Distribution Management System
Hexaware can customize and implement package based distribution management system like the Trilogy DMS suite.
Trilogy/DMS provides an integrated method of managing and tracking complex organizational structure and relationships for the financial industry. With this software, a financial services institution can efficiently and reliably manage complex matters such as sales agreements, distributor credentials and sales compensation. This browser-based system, implemented using Java Server Pages, consists of five tightly integrated modules:
- Distributor Administration
- Licensing and Appointment
- Selling Agreements
- Debt Management
- Net Pay