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 must have effectual processes for the commission management procedure and the evaluation of the performance of sales channels. Nowadays, it is mandatory to provide competitive and acceptable service to field agents. Cogneesol helps in setting up and supporting end-to-end systems for compensation as our technical experience and domain insight is spread across insurance business operations, products, and channels.
With the help of our skills and expertise in all insurance processes, we efficiently manage changes in insurance commissions.
Our commission management experts calculate the commissions with precision, reducing the chances of error and overpayments.
We assure you that we can prepare commissions for agents and agencies working for you, and clear payouts promptly.
By outsourcing commission management to Cogneesol’s trained experts, you don’t need to invest in hiring an in-house team and their training.
Our proficient commission managers work 24 hours, five days a week, efficiently reducing the average time taken for the entire process.
Our online invoice processing system allows you to review and approve invoices quickly, saving you enough time to invest in core operations.
Commission calculation and distribution used to be a cumbersome work for our department owing to unavailability of manpower. When we hired Cogneesol to manage our commissions distribution, they came in with a team that followed a blueprint to lay down process and procedures. Soon, commissions disbursements started to take place on time. Kudos to the team for the quick turnaround!
Our insurance agents are a satisfied lot owing to our efficient commission management system. And we have only Cogneesol to thank for this. The team ensures timely policy updates, commission entries and accounting, and liaison with the Accounts team to authorize disbursals. We thank Cogneesol for the efficiency they have brought into the process!
Cogneesol has been our insurance back-office solution partner for over a decade. They handle numerous processes including that of commission management. Our growth into new markets can be categorically attributed to Cogneesol’s support with the key functions. Thanks to their efficient and effective handling, we have a strong foundation!