Agency Compensation

The prevailing competitive business environment, both within the traditional Insurance companies and from the emerging insurance players, has increased the importance of the Independent Agents or Brokers. The impact of this dynamic environment is felt most strongly in the area of distribution management. Increasingly, distribution is seen as the point where insurance companies can create and sustain a competitive advantage.

Key solutions and services

Legacy Re-engineering of Agency Compensation system

Agency Compensation System is a supporting system for servicing agents' requests. This system registers requests from Agents/Associates and generates follow-up reports on queries related to Policy changes, Agent changes, Manual collection information, Service agent change and Agent commission.

Insurance Dashboard

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

Web-based agent extranet

Web-based agent extranet gives agents real-time access to the company's policy rating systems for quoting and issuing new business, and for viewing and updating existing customer information. This solution provides a replacement for the carrier's mainframe-based systems using 3270 green screens.

Distribution Management System

NeelInfo can customize and implement package based distribution management system like the Trilogy DMS suite.

Trilogy/DMS provides the financial industry with an integrated method of managing and tracking complex organizational structure and relationships. 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