Insurance







Our solution for the Insurance Business

The Insurance Market

Generally, in the Insurance business, the remuneration of financial and/or insurance products distribution activities has a variable component “production bonus” which is annually agreed between the company and the distributors and is commonly referred to as RAPPEL. Therefore, Rappel means the over commission paid to the intermediaries (agents and brokers) when an established portfolio has been reached (production, technical, etc.). Such production bonuses can be paid provided that a given target is reached and/or can be related to the “net inflows”, namely net of disinvestment.

Our Aim

Managing the relationships between the Company and its sales network, defining and documenting the targets towards the agents, enabling the assessment of the achievement or the failure to achieve the targets set, guaranteeing discretion, calculating the incentive payments and tracking the cost allocation.

Our Solution

  • Akeron Ic is a software intended for all entities that base their business strategy on reward systems in relation to predefined objectives.
  • A vertical version of this products has been configured in order to manage and define the over commission (Rappel or Commission Bonus) towards the insurance brokers (Agents), when a predefined target is reached.
  • Akeron Ic manages the relationship between the Company and its sales network, defines and documents the targets towards the agents, enables the assessment of the achievement or the failure to achieve the targets set, guarantees discretion, calculates the incentive payments and tracks the cost allocation.
  • Moreover, this platform allows for the integration of data generated towards management systems (accounting system, management control system, etc...), in order to guarantee the conformity of the current business situation.

THE REPORTING SET IS VERY VERSATILE, ENABLES THE COMPLETE MONITORING OF THE BUSINESS PROCESSES WITH DB QUERY, AND IS CHARACTERIZED BY THE TWO FOLLOWING MAIN FEATURES:



Efficiency in recurring

analysis

The selections performed are saved in order to be used again in the future (bookmark)

User

friendly

All system analysis capabilities can be used and configured at user level in real-time

Moreover, the system allows sending via email to the Agencies, with customizable frequency, “push” reports on the status of the objectives agreed, in order to encourage the achievement of such targets or to provide evidence of the ranking in case of “pending” incentive campaigns

Some of the reporting types provided by Akeron Ic:

Disco_Reporting

  • Objectives of the agencies (of your Company or Group according to the SoD)
  • Comparative analysis of the incentive plan of different periods
  • Analysis of variance between planned and actual
  • Analysis of variance between forecasts of different periods
  • Comparative analysis of two simulation scenarios with different objectives
  • Cluster analysis of the agency network
  • Variance analysis between basic liquidation quota and discretionary liquidation quota
  • Down payment already paid

Key features and benefits

CONFIGURABILITY

The high configurability of Akeron Ic allows for an extensive customization of the system according to the specific business needs and processes 

INTEGRATION WITH TAGETIK CPM

The native integration of  Akeron Ic with CCH Tagetik CPM allows performing sophisticated Budget & Planning  activities through an optional module, in order to rule the context of the payout of the sales network.  Additionally, it allows the management of data for closing and budget/forecast

PRIVACY

The platform enables a powerful and efficient management of the user’s roles and profile, allows segregating functions and data safely and effectively, both when editing and when consulting the reporting

CLUSTERING

The entire planning process is managed on a single platform, therefore the reconciliation and collaboration among the various parts of the company is guaranteed. Each activity and phase of the process is implemented in the same software

REPORTING

Akeron Ic Reporting allows for an easy analysis on all dimensions and all measures configured.  It shows the progress of the sales network’s incomes in relation to the set objectives and provides static KPI on the trend in comparison to the previous years


 

INCENTIVE CAMPAIGNS

The high configurability of the system’s general rules enables the development of alternative incentive systems to the Rappel, by managing and/or monitoring the incentive campaigns

Integration with CCH Tagetik CPM

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The application can be extended through an optional additional module based on the "Budget & Planning" platform of  CCH Tagetik CPM that, after collecting the necessary information from the appropriate feeding systems, allows simulating and planning the expected amount of Rappel within the broader context of the payout of your sales network.




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Thanks to this module, Akeron Ic can represent the input for the Rappel component in the company’s financial planning.