How VUE Jump Starts Aviva’s Financial Advisory Group in Singapore
Startups are all over the news. We’ve come to think of their natural beginnings as in a garage somewhere, attached to the parental house, and springing from the mind of a blue-jean clad “digital native.” But there’s another kind of start-up that gets less attention, and that’s the offshoot that’s born into an already established company. The latter carries the advantage of the having the parent company’s resources, distribution system, and marketing capabilities already in place and at its disposal. But sometimes, being born into a legacy can also mean that the technology lags a bit behind.
Agents licensed with the new Aviva Financial Advisors are appointed to sell products from a wide range of carriers. On a monthly basis, the firm—now some 500 agents strong, and growing—needs to keep track of the full, complex end-to-end process from lodging and recording policy applications, the return of commission statements from carriers, to reconciling those statements with the applications through a matching process, to generating the commission calculations and paying the individual agents, with overrides for a hierarchy set up for managers.