2. Elixir Distribution Management (EDM)
MajescoMastek’s Elixir Distribution Management (EDM) offers the flexibility to manage the complexities of the distribution landscape using technology that can keep the carrier ahead and reduces time to implement a new distribution arrangement.
Managing compensation across a number of distribution channels, products and producers creates unique demands that require innovative technology. Creating and testing multiple compensation plans and ensuring you growth the carrier needs should be the goal of any compensation technology.
EDM offers the flexibility to manage multiple channels, handle complex and high volume changes, launch innovative contests and personalize payment schedules for producers. It is a highly configurable platform that allows integration with existing systems in the IT organization.
Manage end-to-end administration of diverse channels and producers
Elixir Distribution management allows a carrier to manage the complete distribution process from appointment and movement management until the end of the contract period. It handles the entire appointment process, from initial application to the final contract, managing complex hierarchy structures with multiple channels and unlimited reporting levels. It also offers seamless and simple on-boarding procedures and implementation across multiple admin systems across multiple service providers.
Align producer compensation plans with business strategy, handle multiple compensation schemes
Using the Elixir Distribution Management product, a carrier can configure product based commission contracts, manage performance based variable compensation and control exceptional compensation scenarios.
Track and identify the best performing producers, create targeted rewards plans
Carriers need to spot and incentivise performing producers and weed out those who aren’t producing. Distribution management allows the business to track performance against dynamic criteria, define key performance indicators using rules engines, configure and measure rules such as product weightage, slab-based credits etc and create a perfect solution for managing rewards and recognition.
Service the sales force, support them to generate more business
The Producer Portal component of the product is an e-services tool targeted at agents, managers and channel partners. The portal offers producers, managers and channel partners real-time access to their portfolios, policy details, commission statements, performance, payment details, training, contest standings, etc., and allows raising queries to the carriers for gaining additional information.
- Set up any kind of compensation plans, easily connect plans with the channels
- Agency Specific Rules, Personalized payment schedules, commission advances
- Launch innovative contests, monitor and award performance of agents from one single platform