In today’s increasingly stringent regulatory environment, financial services companies such as investment firms, insurance companies, credit card companies, and others must manage their distribution channels efficiently and provide full transparency of compensation programs. The complex insurer/broker relationships make distribution management increasingly challenging, while operational and IT costs continue to increase.
Our Solution – INCENTIVES-PRO and INCENTIVES-SPM
Incentives Solutions provides an end-to-end compensation management solution, designed with key functionality for the specific needs of the financial services industry.
With Incentives Solutions’ comprehensive suite for financial services enables the following:
- Efficiently drive your distribution channels: Configure special performance plans for sales hierarchies or individuals, such as brokers and independent agents, to manage the complex relationships of your internal and external channels
- Provide full transparency of compliance with government regulations : By automating your incentives pay, you can guarantee auditable and precise documentation of all payments
- Create a holistic compensation system: Go beyond your sales force, and incentivize your entire staff, including call center representatives (CSR), front-office agents, brokers and account management support. Motivate optimal performance on all levels by aligning employee goals with corporate objectives
- Integrating with your current IT architecture: Customize your incentives plan to incorporate complex compensation factors, such as contingent commissions and multiple policy administration systems
- Analyze reporting in real-time: Incentives Solutions’ dashboards for senior executives, middle management, and individual employees, along with the Analytics module, allows you to rapidly adjust targets and rewards to keep up with market trends
- Improve customer loyalty : By increasing employee satisfaction and performance, creating more efficient channel management, and improving data quality, you will see a direct impact on customer retention levels.
Read a case study to learn how Incentives Solutions has helped transform compensation management systems at insurance companies.