SymbioSys Distribution Management System: UNIFIED SOLUTION FOR Life, Health, Group Life, P&C

SymbioSys Insurance Distribution Management System (DMS) is a unified solution for Property & Casualty, Life, Health and Group Life. It helps insurers in managing compensation of all types of distributors. It helps in improving operational efficiency, provides flexibility to attract and retain key distributors through unique compensation definition, motivates distributor to improve sales through innovative contests, monitoring of distributor performance through analytics and helps in reducing distribution operation cost.

C2L BIZ with its panel of insurance distribution experts has matured SymbioSys DMS to a new level of configurability that provides power and ability to their Insurance customers to differentiate from masses. Thus, providing much needed agility to launch new channels, innovative contests and unique compensations. It also proactively helps in better regulatory compliance for all distribution management needs.

Key Differentiators: 

• Robust Channel Structure and Hierarchy Management

• Automated Movement Handling

• Highly flexible Performance Monitoring

• Exception Management like backdated movements, adjustments, hold/release, write-off, invoicing etc.

• Distribution Analytics and information for Channel Self Service

Description of functions of SymbioSys DMS:

• SymbioSys DMS supports to set up diverse range channels structure into the Hierarchy Management Module. Ability to cater to different channel requirements regardless of the number of channels & downlinks to it through sub-channels or branches. It proposes to establish hierarchical concepts & agent profiling as well, that includes from agent onboarding (recruitment) registration & licencing to most of the hierarchy movement rules (i.e. Transfer, Termination, Promotions, Demotions, Suspension, Restriction etc.) 

• SymbioSys Performance Management Module that also caters to the specific requirements of business definition & set up for most of the KPI's relating to persistency, that may be on individual or group level, setting up of targets with respect to the goal sheet concept. And rendering the rules regarding premium, policy on regular & adhoc basis.

• SymbioSys compensation module allows to compute various types of commission i.e basic, advanced, extra, persistency based, renewal, trail commission, etc. It also caters to complex requirements of commission clawback, G2G and spinoffs, incentives, contests, etc.

• SymbioSys DMS Business Rule Engine (BRE) enables to configure / define rules & KPIs for Commission, Incentives, Contests on standard & adhoc basis. SymbioSys Incentive Rule Definition Module also has the capability of building rules for schemes that encompass incentives, contests & award system, defining commissions with respect to standard commission rules & overriding commissions as well.

• SymbioSys Financing & MIS Module has with proven capability of exceptional handling capacity of defining rules for general ledger accounting principles with taxation & payment via different modes & frequencies too, it can cater to the specific loan requirements being tendered to agents, with operational report building infrastructure.

• SymbioSys DMS Suite comprises of the Business Rule Engine, performing the batch management, along with workflow management, email & or SMS push, & keeping the audit trail as well.

• SymbioSys DMS provides Roles Based access control at the granular level. Using role-based access control features, permission can be granted to restrict jobs functions, access to Workflow Inbox queues, Delete, modify functions, each task in the workflow (e.g. approval, verification,) can be controlled using role-based access control.

• SymbioSys DMS has correspondence framework, which can be used to trigger SMS / Email / Leer on various events. Template of these are available for user to edit. Email and SMS are stored in SymbioSys DMS, leers can be integrated with content manager to be saved and archived.