Incentive Management System
Generating sales and maintaining service levels requires deployment of large sales and service teams. This is true for all insurance domains and even more so for Life and Health sales. Companies may choose to achieve sales using independent agents (brokers), tied agents or salaried employees. In order to obtain higher performance, especially in sales related activities, companies devise creative incentive schemes which may be difficult to administer.
InsFocus’ Incentive Management System is designed to support insurance companies in calculating and administering incentive schemes, whether for independent agents or for salaried employees. The system is designed to take into account the specific issues concerning insurance companies, mainly in the Life and Health domains.
Using InsFocus Incentive Management System, Life insurance companies can devise creative incentive schemes, administer them smoothly and provide ongoing daily reporting back to salespersons or agents; thus achieving higher sales, transparency to salespersons and management, and lower administration costs.