Solutions > Insurance

As pressure from regulators and stakeholders’ increases, insurance companies with their complex distribution networks and dynamic commission structures are looking for greater transparency, control and automation in their distribution commission management system. The need today is for a solution that gives accurate, auditable results and can provide the transparency levels to satisfy the most rigorous of inquiries. As distribution networks expand in size and geography, solutions are required that can handle large, complex distribution agreements and agent structures while accommodating regional differences.

Quartal COMMISSION is a solution for the calculation and payment of insurance distribution commissions by insurance companies to agents and third-party distribution partners.

Benefits

Reduced Costs

  • Reduced operational and sales costs
  • Increased automation in payable commissions calculation, contract management, and data import/export
  • Increase in efficiency through sophisticated workflow processing/STP

Reduced Risks

  • Automated compliance reporting and full audit trail
  • Improved information accuracy with automated workflows and controls and straight-through imports/exports from internal & external sources
  • Highest security standards

Improved Transparency & Service Levels

  • Clarity on the entire expense calculation and payment process
  • Automation in calculation of accruals & actuals, accounting entries, and cost allocation
  • Scenario analysis, cost modelling and benchmarking
  • Improved reporting and forecasting

Key Features

  • Scalable solution to support global growth
  • Single global system for invoices, fees, commissions and rebates
  • Customizable solution able to handle the most complex rules or conditions
  • Customizable solution able to handle exceptions and exclusions
  • Customizable solution able to handle tariff/discount management
  • Ability to incorporate even the most complex fee/commission structures
  • Standardization of agreements and revenue/expense policies