Life & Annuity: Producer/Agent Services, Distribution & Compensation Management Genpact’s Agent Services, Distribution and Compensation Management solutions for Life and Annuity companies drives sales force effectiveness, producer satisfaction and cost efficiencies for all channels of distribution. We decrease agent licensing cycle time, improve agency licensing yield rate, and accelerate revenue generation. We are dedicated to helping you achieve your business goals through our commitment to process excellence and intelligent application of innovative reengineering, detailed analytics, and technology. Our solutions encompass on-boarding servicing and compensation management including career, independent agents, brokers and insurance marketing organizations (IMO). Our Approach Genpact’s approach to Distribution and Compensation Management incorporates end-to-end processing for a full range of services including: Agent appointment and termination/ renewals (including complying with state specific requirements) Agent and hierarchy set-up Administration and commission coding Record maintenance Correction and replacement of policy Our services are delivered globally using a “right shore” approach and are focused on delivering maximum business benefit to our clients. Our proprietary Smart Enterprise Processes (SEPSM) framework combines innovative customer lifecycle analytics, process reengineering, Six Sigma-trained staff, and proprietary tools to standardize and streamline processes end to end. The result is greater efficiency in operations and effectiveness in meeting challenges, driving higher revenue and improved working capital. People Our talented team of FINRA Series registered associates supports variable products. All associates, including supervisory managers and domain experts, receive mandatory training, reinforcing our standard process excellence toolkits. In addition, all of our competency and skills frameworks have been developed with LOMA specifically for the Life and Annuity industry. These industry-leading practices result in best-in-class attrition rates and a dedicated and experienced team of insurance professionals. Process The overall focus of our approach and commitment to business process management is to deliver bottom line business impact. Highlighted by our key practices of providing process excellence roadmaps, intensive training and a focus on end-to-end metrics, Genpact provides solutions to increase baseline as well as year-on-year productivity. Our approach improves working capital, reduces fraud, and raises customer satisfaction, leading to higher revenue. Our emphasis on outcomes is enhanced by pricing models that incentivize continuous improvement and maximum performance. Technology With over 3,000 successful migrations behind us, Genpact is a leader in providing seamless transitions and effective operations. We work to align with the client’s preferred sales and distribution systems through our platform-agnostic approach, enhancing efficiency through the employment of our analytic and reengineering capabilities and proven, proprietary tools to tighten controllership and governance as well as enhanced reporting capabilities. Client Successes A leading Life and Annuity Company faced challenges in bringing on new agents and capturing the revenue that they would generate. Using the compliance capability built into our LOMA compliant new agency on-boarding process, Genpact decreased agent licensing cycle time by 11 days for online and 24 days for manual licensing and appointments. This improved the first pass of agency licensing yield rate from 82% to 97%. By developing and implementing a tax information system to calculate and produce 1099s, Genpact accelerated revenue generation by $6MM a month.