As technology changes so too should the way we do business. But with producer data stored in multiple systems acquired over years of growth, workarounds quietly become the standard process and we slip easily into the habit of managing things on a case-by-case basis.
Slowly but surely your agents start to feel it:
-
Onboarding takes weeks
-
Incentives become less and less compelling
-
Compensation statements grow complex and confusing, causing disputes
-
Experience is fractured and inconsistent, lowering expectations
New technology can help you flip the script on this situation and turn distribution management back into a strategic function.
Enter the modern distribution management system. Everything you need in one place, so you can provide excellent and consistent service to your channels.
Onboarding & Compliance
Bring automation to the tedious but critical activities within onboarding and compliance. Make the process fast and easy for agents while improving their compliance. Plus, removing manual processes means you can add more agents without increasing staff.
Compensation
Create a single source for commissions by combining information from all of your policy admin systems. This gives you the flexibility to be strategic with your compensation budget, so you can get agents excited about selling your products with new programs designed to bring in more business or tweak existing programs to incentivize products with better margins.
Performance & Relationship Management (PRM)
Know who your top agents are and keep up with the constant stream of agent changes as they move throughout their careers. Support those who are struggling with a 360° view of agent performance, including key metrics and their past, present, and projected future premiums.
Producer Portal
The final piece of this puzzle is the producer portal. Agents need tools that simplify their interactions with carriers and deliver the superior experience they’ve come to expect from today’s technology. It’s up to you to provide that seamless customer experience with an agent portal that is tied into all aspects of distribution management. Clear commission statements, performance reports, authorized products, change requests – they need it all.
The modern distribution management system brings all of these pieces together to help you get out of the chaos of managing your distribution on a case-by-case basis and be strategic about your distribution management.
