Sold by: C2L BIZ Solutions
SymbioSys Commission as-a-service
Overview
SymbioSys Commission-as-a-Service is a one stop service for Insurers to ensure all types of simple and complex commission contracts can be configured and administered. Over a period, commission has evolved a lot and is paid on various qualitative measurement indicators viz. Assessment Ranking, BSC (Balance Score Card) and Persistency. To meet the desired business objectives of an Insurer and at times the regulatory compliance, the Service ensures that commissions are computed accurately. SymbioSys Commission-as-a-Service has a proven track record and is being used by 14 delighted insurers across 9 countries and launched over 350 unique commission contracts processing over 12 million policies for over 5 million advisors. SymbioSys Commission-as-a-Service addresses the need of all types of insurers - Life, Annuity, Pensions, P and C, Group Life and Health. It is adept at addressing unique types of commissions such as Advance, Split, Indemnified, Negotiated, Sacrificed, Enhanced, Extra, Rider(s) and on Target Premium as well. With its comprehensive design, it seamlessly ensures that even Chargebacks and Refunds are well tracked and adjusted without adding any overload to the distribution operations team.
SymbioSys Commission-as-a-Service is designed for the global insurance distribution channel needs and is proven with unique capabilities like
- Easily set up your own commission rule based on diverse parameters and innovate with what works for your business
- Ability to map each commission contract to different types of hierarchy and up to nth level or tier.
- Ability to compute commission on real-time basis for commission disclosure while capturing the proposal.
- Ability to compute commission based on policy currency, wind-back and wind-forward on specific policy events, enhance commission such as digital sale, STP etc.
- Handshake seamlessly with digital ecosystem with ready real time API interfaces.
Highlights
- Configure commission rules by combination of Products, Riders, Partners or Brokers, Role, Class, Rookie status, premium, comm. etc.
- Enhance commission for digital sale, STP etc,Use external KPIs such as Persistency, BSC, Assessment Ranking to drive commission, Define Chargeback rules for policy events
- Define overrides for different hierarchies, Commission split, negotiable commission, commission in policy currency, Wind back and wind forward commission
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Pricing
Pricing is based on the duration and terms of your contract with the vendor, and additional usage. You pay upfront or in installments according to your contract terms with the vendor. This entitles you to a specified quantity of use for the contract duration. Usage-based pricing is in effect for overages or additional usage not covered in the contract. These charges are applied on top of the contract price. If you choose not to renew or replace your contract before the contract end date, access to your entitlements will expire.
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Dimension | Description | Cost/month |
|---|---|---|
Initial Setup Fees | Initial Setup Fees for the number of months of implementation | $1,550.00 |
Subscription Fees GoLive | Subscription Fees - Post Go-Live | $1,050.00 |
Dimension | Cost/unit |
|---|---|
Upfront_Fees | $4,000.00 |
Dimensions summary
This contract splits into three separate charges that follow your project timeline. You pay Upfront Fees at the start of the engagement. Initial Setup Fees cover the implementation work and scale with the number of months implementation takes. Subscription Fees begin after go-live and cover your ongoing use of the commission service. These dimensions are sequential rather than tiered. You do not choose between them; together they cover onboarding, configuration, and continued operation of the service for administering insurance commission contracts.
Top-of-mind questions for buyers
This fee covers the implementation work needed to configure the service before go-live. It is counted by the number of months your implementation takes. A longer implementation means more months, so this charge scales with how long setup runs, not with users or policy volume.
The three charges bill in sequence, not together. You pay Upfront Fees first, then Initial Setup Fees during implementation months, then Subscription Fees once the service goes live. They are not tiers you choose between. Each covers a distinct stage: kickoff, configuration, and ongoing use.
Subscription Fees begin after go-live. They cover your continued use of the service for configuring and administering commission contracts. This includes running commission rules, overrides, chargebacks, and reconciliation on an ongoing basis. Upfront and setup charges do not repeat once you reach this stage.
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