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7th April 2021
Majesco adds new capabilities to Distribution Management Platform
Majesco has announced the general availability of new key capabilities to Majesco’s Distribution Management platform. “Our latest product release for Majesco Distribution Management, includes major ease of use capabilities for our customers,” said Manish Shah, president and chief Product officer at Majesco. “We have now enabled carriers to quickly and automatically identify and notify under performers and route them to termination if necessary. In addition, we added enhanced communication preferences, through configurable notifications, which can be sent directly to producers or their parent organization, and mass onboarding of producers through a file upload, particularly valuable when bringing on large distribution groups.”
This latest release highlights Majesco’s continued strategic investment in distribution management by expanding innovative, new digital, distribution and data capabilities to speed distribution on-boarding and optimize the distribution operation to drive profitable growth.
Some of the key new capabilities include:
-Distributor Performance–Enables carriers to configure rules that automate identification of under performers and flag for termination. The approval workflow includes low performance warning notifications sent to producers prior to review of a potential termination decision. After review, the termination can be cancelled if performance is met or accepted.
-Communication Personalisation–Enhanced capabilities through configuration of communication and notification preferences for distributors or their parent organisation. This capability will enable carrier’s flexibility to better service distribution channels that can influence growth in business from those channels.
-Rapid Mass Onboarding–New mass onboarding that speeds and streamlines the onboarding process and enables hundreds or thousands of producers to be onboarded simultaneously through a simple file load rather than a manual process, accelerating business growth.
“Insurers acceleration of new products, new business models, and new ways of engaging with customers is driving an increase in the use of new channels,” said Karlyn Carnahan, head of Celent’s North American Property Casualty practice. “If a carrier wants to fully exploit the potential of its various channels, they must think very differently about distribution management, compensation and segmentation. Distribution management platforms must continue to evolve to enable insurers to manage their distribution force with increasing sophistication.”
Majesco Trends(62 articles)