Commissions Management Services
Internally, under-performing commission systems are sometimes a fiscal drain for insurance companies. Absence of functionality or tractability can inflate FTE expense, bring in manual workarounds into the procedure, and magnify error rates and cost. Overpayments can lead to heavy deprivations for every million dollars of commissions compensated. In addition to the undue cost of carrying off the function, there is an opportunity cost because of incapacity to sustain a corporate strategy or amend producer relations.
It is essential for insurance carriers to have effectual processes in place to evaluate sales channel performance or even manage the commission procedure. Rendering acceptable and competitory levels of service to field agents is a mandatory these days. Insurance Support World's domain insight and technical experience spreads over the channels, insurance products, and the business operations to establish and support end to end compensation systems.
Insurance Support World offers Technology Consulting and Implementation Expertise so as to enhance the commission system and modernize it. At ISW, you get:
Domain Expertise - We employ and support the best insurance business and technology consulting talent, i.e. people who have vast industry expertise.
Business-Driven Solutions - The solutions that we offer to our clients are delivered on the backbone of 8 years of global experience, top-notch facilities and a wide spectrum of technical expertise.
Depth of Expertise - Insurance Support World has come up with a myriad of Commission Calculation and Disbursement solutions that function across primary lines of business.
Insurance Support World’s solutions for Commissions and Compensation Management include:
- Application Maintenance and Enhancements to Commission Systems
- Commission Accounting
- Producer Commission Payable