Deploying the right Commission and Incentive Compensation System reduces costs and increases revenue.
Insurance carriers have paid commission and bonus dollars to internal and external distribution channels from day one of operation. Current market pressures and increased competition are adding further strains on older systems putting many companies in the position of paying too much and getting too little. In other words—the cost of working with inflexible, hard coded systems is far greater than the cost of implementing a modern, fully functional commission and incentive compensation system.
This paper addresses the financial impact of operational pain points and explains how upgrading your system delivers ROI through both cost avoidance and revenue enhancement, including:
- Improved Operational Efficiency
- Reduction of Dependency on Internal IT Staff
- Elimination of Overpayment Expenses
- Improved Producer Loyalty
- More Strategic Use of Incentive Compensation