Solutions for Insurance Industry

Drive top-line revenue growth and retain top performing agents by optimizing producer incentive programs. Reduce overall financial risk by increasing operational efficiencies.

Operational Inefficiencies

The insurance industry is characterized by IT-owned, legacy systems designed to manage producer lifecycles. This results in many organizations facing increased support costs & inflexible, error-prone processes.

Compensation Plan Complexity

Variables like high transactional volumes. Various sales channels with multiple distributor relationships & legacy commission structures make managing compensation immensely difficult & at risk for human mistakes.

High Transactional Volumes

With high transactional volumes, administrators need robust systems to meet commission processing schedules. High data volumes also demand extensive data integration & applicable scalability to process and pay all payees on time.

 

Strict Regulatory Requirements

Maintaining agent licenses, registration & education details and integrating this data for correct transactional crediting can be a complex task with legacy systems and often result in over- or underpayments.

 

A flexible solution to manage complex incentives for producers, agents and distribution channels.

Our SPM Solutions

ICM

Incentive Compensation Management

Align your sales teams and strategic objectives to achieve desired revenue targets, comply with regulatory standards, and adapt to market changes quickly and efficiently.

Territory & Quota Management

Territory & Quota Management

Efficiently create, monitor, and align quota and territory assignments with your business strategy. Simplify and automate your complex tasks with powerful workflow solutions.

Data Reporting & Analytics

Data Analytics & Visualization

Gain insight & visibility into mission critical metrics such as performance trends, compensation drivers and revenue flow with advanced reporting and ad-hoc analysis.

InnoVyne Insights