Insurance > Solutions > Distribution Commission Management (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 enquiries. 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

Increased Revenue

  • Reduction & control in revenue leakage by automated billing workflows & automated controlling reports
  • Optimization of fee schedules
  • Enforcement of revenue and discount policies

Reduced Risks

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

Improved Transparency & Service Levels

  • Clarity on the entire fee/commission calculation and invoicing process
  • Automation in calculation of accruals and actuals and accounting entry generation
  • Improved reporting and forecasting
  • Scenario analysis & simulations

Reduced Costs

  • Increased automation in fee calculation & billing, contract management, data import/export and allocations/reconciliations
  • Reduced operational and sales costs
  • Increased efficiency through sophisticated workflow processing/STP

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