VUE Compensation Management is a powerful, flexible and intuitive tool that makes
it easy for insurance organizations to organize and streamline complex commission
and incentive programs.
Gain Clarity in Compensation Management
Companies are empowered to intuitively design, manage, and track effective
incentive programs and produce powerful reports - ensuring confidence in compensation metrics,
and reducing the inter-department reliance on IT. Most importantly, VUE helps motivate sales
teams by providing clear performance measures and trusted payments.
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An intuitively designed interface allows products to be setup and modified with
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Clear visuals make even complex hierarchies easy to understand. |
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Utilizing the intuitive interface of VUE Compensation Management, companies can
create incentive programs that maximize sales of the most profitable products. Compensation
strategies can be changed quickly in response to market opportunities, providing
companies with a competitive advantage, and delivering the flexibility sales and
marketing executives need.
Increase Producer Retention
With clear compensation metrics and commission statements, there’s no question on
how individuals are paid. This clarity ensures that producers focus on the priorities
defined by the compensation program rather than spending time on shadow accounting.
Producers choose to do business with companies that are easy to do business with.
Ensure Trusted Compensation Runs
Rich automation capabilities greatly reduce the administrative and operational costs
of managing the compensation payout process. A robust transaction engine ensures
the accuracy of all commission and bonus payouts regardless of product, distribution
channel complexity or transaction volume.
Support Regulatory Compliance Initiatives
Programmed compliancy checks ensure carriers maintain appropriate licensing and
credentialing verifications for their entire producer channel. Payment suppression
makes certain only those agents with valid appointments are run through the compensation
process. Granular control and monitoring of the payment process ensures full audit
trails to help meet regulatory requirements such as Sarbanes Oxley.
Agent/Agency Management
Agent on-boarding
Licensing and compliance management
Termination and reporting
Powerful Compensation Calculation Engine
Multiple hierarchies per payee
Automated scheduler for compensation plans and payouts
Multi-phase to allow preview of statements
Retroactivity based on changes to plan, agent or policy characteristics and effective dates
Powerful Analyses and Reporting
Built-in analysis for submitted business, agent sales funnel and production along with
budget-to-actual reporting
“What-if” analysis and reports for agent compensation changes
Reports for controlling transactions
Management and audit reports
Powerful non-technical report writer
Reports for advances
Producer Portal Module
Commission statements
Commission research
Commission disputes
Submitted business reports
Distributed agent administration for managing agents
New and Existing Business Support
Support for multiple insurance contract types
Multiple policy support for customers
New business registration tracking
Unlimited hierarchies and multiple splits on a policy
Easy policy/plan research and maintenance with full audit trails
User-Customization
Flexible user-defined bonus programs
User-defined business rules for payouts
Advance and draw support along with analysis
Advanced user configuration and administration
Advanced Technical Features
Integration engine using standards-based XML technologies
Supports SOA and Web-Services interfaces
On-site or On-demand deployment models
Supports HIPAA-compliance
Value
VUE Compensation Management helps deliver rapid return on
investment for ICM/EIM projects through:
Increased sales performance – Align compensation expense directly to goal attainment
Improved profitability - Streamline go-to-market product introductions which best support margin gains
Reduced producer turnover - Encourage a stable and satisfied sales force with timely and accurate payments
Increased organizational responsiveness – Process changes in a timely manner, insuring accurate compensation
Reduced operations costs – Eliminate human errors and overpayments through comprehensive automation and auditing
Improved security and audit controls – Support Sarbanes-Oxley, credentialing verification and other regulatory initiatives
VUE Software utilizes Microsoft platform technologies as the foundation for all
system development providing a standard architecture to facilitate enterprise integration
and assure cost effective implementation on commodity hardware. Clients can choose
to deploy on either an Oracle or Microsoft SQL Server database.
VUE Software is an active member in Microsoft’s Insurance Value Chain (IVC)
program and works closely with Microsoft to ensure leading system integration, scalability,
reliability and security.