Mastek's Elixir Distribution Management (EDM) solution provides the flexibility to manage the complexities of the distribution landscape using technology that can adapt within the changing business environment. EDM's technology provides the ability to manage the entire agent life cycle more efficiently by utilising a multitude of tools including the Agent Life Cycle Manager, Compensation Manager, Performance Manager and the Agent Portal.
The Elixir Distribution Management Advantage
- Better productivity with timely and accurate compensation
Elixir Distribution Management comes with a promise of better productivity for both your backend staff as well as the producers. Timely and accurate compensations and better service levels for producers help making your organisation the 'carrier of choice' for the producer.
- Reduces time to market for new channels and partners
The rules based platform allows you to quickly configure the unique structure of new channels. With its configurable commission and incentive definition framework, you can easily support innovative compensation structures to attract new distribution partners.
- Single system supports multiple products and channels
From traditional to investment to retirement to health insurance, Elixir Distribution Management is a single system for all product lines. Elixir Distribution Management supports multiple channels, including Independent agents, career agents, large broker networks, broker-dealers, banks and consumer retail partners and enables you to cater to the unique requirements of each channel. Elixir DM business process and technology is flexible and robust enough to manage a wide range of relationship hierarchies, compensation plans and reporting requirements. Configurable down to a specific agent, the Elixir Distribution Management allows you to custom manage your channel partners.
- Gives flexibility in designing compensation plans
The powerful rules engine can handle the most complicated set of commissions, bonuses, and fees for each individual agent. Elixir Distribution Management is highly flexible, allowing you to configure unique commission and incentive rules for every single agent in your channels.
- Complex compensation calculations
Ability to configure the commission parameters and rates as well as configure the calculation logic thus elimination code changes and IT dependency.
- Better performance analysis
The power to identify the top performing producers from your complex arrangement of channels helps you motivate and retain your best talent.
- Boosts producer productivity
With real-time access to information with the Producer Portal, Elixir Distribution Management helps agents to focus on what they do best - sell. Online access to compensation statements offering a consolidated view of all compensation and incentives with dispute resolution capabilities makes the carrier easy to do business with.
