Next Steps
Incentive Management
Incentive Compensation
Designed for
Insurance Organizations
Incentive Management
Improve Profitability
Analyze, identify and prioritize to sell a high-margin product portfolio.
Analyze, identify and prioritize to sell a high-margin product portfolio.
Cut Operational Costs
Eliminate human errors and overpayments through comprehensive automation.
Eliminate human errors and overpayments through comprehensive automation.
Achieve Compliance
Meet Sarbanes-Oxley, credentialing verification and other regulatory requirements.
Meet Sarbanes-Oxley, credentialing verification and other regulatory requirements.
Do inflexible and inaccurate incentive management programs cause your organization to struggle when it comes to effectively engaging with producers? Technology restrictions often limit insurers to simplistic measures such as policy count or percentage of premium for their incentive models. With incentive management technology from VUE Software®, you gain the flexibility and agility to implement strategic incentives that effectively motivate producers and align sales with corporate goals. Automated incentive calculation capabilities result in improved payment accuracy, so agents focus less on shadow accounting and more on selling.
Build Comprehensive Compensation Programs
Create innovative compensation plans that maximize the sales of your most profitable products with automated incentive management. Compensation strategies can be changed quickly in response to market opportunities, giving you a competitive edge and providing the flexibility sales and marketing executives need. Key capabilities help you motivate producers:
- Flexible user-defined bonus programs
- "What-if" analyses and reports for compensation plan changes
- Advanced user configuration and administration tools
Increase Producer Retention
Clear incentive metrics and commission statements leave no questions as to how producers are paid. This clarity focuses their attention on priorities defined by the incentive program rather than shadow accounting. Producers choose to do business with companies that make it easy to do business. Simple, user-friendly features help you improve retention:
- Producer portal module
- Graded reward system
- Enhanced agent management capabilities
Ensure Trusted Compensation Runs
Rich automation capabilities greatly reduce the administrative and operational costs of managing the incentive payout process. VUE Software’s robust transaction engine ensures the accuracy of all payouts, regardless of product, distribution channel complexity or transaction volume. Advanced features make the process easier.
- Automated scheduler
- Retroactivity based on changes
- Multi-phase to allow for statement previews
Support Regulatory Compliance Initiatives
Programmed compliancy checks help maintain appropriate licensing and credentialing verifications for the producer channel. Only agents with valid appointments are eligible for compensation processing. Granular control and monitoring ensure full audit trails to comply with regulations such as Sarbanes-Oxley. Insurers have safeguards across the entire system:
- Regulatory compliance support
- Easy policy/plan research and maintenance with full audit trails
- Licensing and compliance management
