Bajaj Allianz General Insurance Company (BAGIC) has selected Majesco Distribution Management for the incentive and reward management for their employees.
Bajaj Allianz General Insurance has multiple lines of business within the General Insurance umbrella and has traditionally used in-house systems to calculate rewards and incentives.
With Majesco Distribution Management, the company will consolidate and automate their rewards and incentives management on a single platform. Incentivepayments will be processed on Majesco Distribution Management with the data integrating back to their policy administration system, which will provide the repository of the information.
Bajaj Allianz General Insurance MD & CEO Tapan Singhel said: “Being a customer obsessed company, we are always exploring partnerships that contribute in enhancing our customers’ experience directly or indirectly. An engaged and effective sales force is very important for creating a base of happy customers.
“We believe that the partnership with Majesco Distribution Management will play an important role in helping us automate and speed up the rewards and incentive process. It will also bring in greater transparency through the system based process.”
Majesco MD Farid Kazani said: “We are delighted to welcome BAGIC to our growing community of customers and thank them for their confidence in our team and solution.
“It is great to be partnering with such an innovative and a forward-looking insurer like BAGIC. Rewards and incentive management is increasingly a strategic business capability required to enable robust growth strategies. We are positive of a successful implementation and building a strong strategic bond with BAGIC.”
Majesco Distribution Management System is a standalone, modern solution designed to enable insurance carriers to manage the entire distribution landscape with comprehensive business capabilities that enable diverse channel options, support the increasing need of an omni-channel environment, effectively administer channel producers from registration to termination, compensation and performance management, and launch innovative contests and personalize payment schedules for producers to help drive business growth.
The highly configurable platform enables ease of integration within an insurance carrier’s business system landscape. Majesco Digital Solutions is designed to enable personalization of the portal and mobile solutions based on the unique customer journeys and personas defined by each insurer to fulfil their unique and multi-channel distribution and customer experience needs.
Majesco Digital Solutions is pre-integrated with Majesco’s core solutions and offers insurers a robust platform to support their digital strategy. Our open architecture provides capabilities to integrate with other core solutions and an extensive partner ecosystem that integrates content, channels and technology.
Source: Company Press Release