Comarch implemented an incentive compensation management system in LINK4

Aug. 5, 2013 - PRLog -- Comarch has launched the Comarch Commission & Incentive (https://www.comarch.com/finance/products/comarch-commission--incentive/) solution at LINK4 insurance company (part of the RSA Group). The aim of the implementation was to improve the sales network management process and settlements with both agents and financial intermediaries cooperating with the insurer.

‘We started our insurance activity in Poland in 2003 using only a direct distribution channel. We are still the leader in that sales model, but we want to adapt our offer to the current needs of our customers. That is why we are constantly looking for solutions that will increase the availability of our products. We started to cooperate with multi-agencies and then also with financial intermediaries. Owing to that, our offer is available to a wider group of potential customers. However, going beyond a direct sales channel has set new challenges such as the need to manage comprehensive information about intermediaries, ensuring compliance with the requirements of the market regulator and commission settlements. The search for a mature, proven solution meeting all our requirements has led us to Comarch. We are satisfied with the implementation and the current Comarch Commission & Incentive operation. Before we started, we had decided to divide the implementation tasks between Comarch and LINK4 in order to better understand the capabilities of the system. Comarch developed a set of commission algorithms and report templates, and then our specialists independently configured the rest, underlines Lidia Fido, Director of Finance, LINK4.

‘The implementation of Comarch Commission & Incentive that we have just completed at LINK4 confirms a strong position of our solution on the financial market. We are pleased that yet another insurance company gave credit for our system and relied on us in such a sensitive matter as sales force management. The project covered the agent and intermediary network management functionality, as well as commission settlements and reporting’, explains Maciej Ślósarczyk, Head of Insurance Consulting, Comarch.

Comarch Commission & Incentive is an IT solution supporting sales network management as well as commission & incentive policy-making in insurance companies, banks and other financial institutions. Its functionality has evolved from a commission settlement application to a modern platform supporting management and communication of a sales network with the use of an agent portal. Gartner’s analysts in their report MarketScope for Insurance Incentive Compensation Management recognized Comarch’s system as one of 13 most outstanding global IT solutions in the area of commission and incentive settlements.