Commissions Management services
Insurance companies have to, at times, face fiscal drainage on account of commission systems that don't perform as well as required. Cost and error rates can be magnified, manual workarounds brought into the procedures and FTE expenses inflated because of the absence of tractability or functionality. For every million dollars of compensated commissions, heavy deprivations can occur due to overpayments. Because of the lack of capacity to amend producer relations and to sustain a corporate strategy, there is a cost of opportunity along with the undue cost of the function being carried off.
Insurance carriers have to have effectual processes for the management of the commission procedure and the evaluation of the performance of sales channels. Nowadays, it is mandatory to provide competitive and acceptable service to field agents. SOS helps in setting up and supporting end-to-end systems for compensation as our technical experience and domain insight is spread across business operations, insurance products and channels.
An Overview of Our Commission Management Services:
- Commission Entry
- Commission Systems Enhancement and Maintenance of Applications
- Payable Commission for Producers
- Commissions Accounting
Why Should You Choose Us?
- We efficiently manage changes in insurance commissions
- Precise and on-time payment of commissions
- Training cost elimination
- Reduction in average time of handling