Today, channel management is not about building new channels alone. The last few years have seen substantial growth in the distribution channels of property and casualty insurance (P&C) industry. The bigger challenge is to bring in accuracy, flexibility and adaptability so that insurance companies can extract the maximum returns from these channels.

The need for these changes in agency management has risen due to these developments:

• Compliance management requiring highly regulated sales
• Increase in number of channels, complexity and transaction volumes
• Requirements for multi-year historical views of compensation and transactions
• Quick and scalable reporting for better view of the distribution systems' data

Solutions

NIIT Technologies has proven expertise in all aspects of channel management. We have implemented solutions at various client sites that address the challenges concerned with distribution and commission systems. Among our solutions are:

NIIT Technologies’ solutions bring you the following business benefits:

• Distributor Extranet
• Agent Portal
• Third Party Administrator
• CRM and Call centre portals
• Kiosk solutions
• Web-based order systems

Business Benefits

Effective agency management brings you business benefits that are crucial for your growth. Here are some of the benefits you get from opting for our solutions:

• Streamlined agency management system, which includes agency sets, compensation management systems and agency payroll management
• Transparent quotation comparison facility for customers, where they can submit quotes online to the respective service providers
• Time and cost savings through real-time processing for agent appointments and licensing

Success Stories

Internet-based Insurance Broker Service

NIIT Technologies’ client needed to provide a host of insurance and general financial services through its portal. For this purpose the client entered into an agreement with over 20 large financial houses in UK. The role of NIIT Technologies was envisaged as a development partner for the design and development of web-based insurance products, mainly under B2B and B2C portals.

NIIT Technologies’ client needed to provide a host of insurance and general financial services through its portal. For this purpose the client entered into an agreement with over 20 large financial houses in UK. The role of NIIT Technologies was envisaged as a development partner for the design and development of web-based insurance products, mainly under B2B and B2C portals.

Impact

NIIT Technologies developed and delivered next-generation trade portals. Now the client has enabled

• The facility for consumers to buy various types of general insurance products (for example, motor, home, travel, boat, caravan and bike)
• A portal for life insurance agents
• Personalization of web site pages depending upon the requirements of the consumer
• Higher reach with the ability to deliver insurance products not only through web but also through digital TV