(The Merlion statue in Merlion Park, Singapore, with the skyline of the Central Business District in the background. Photo credit:ペウゲオト.)
NTUC Income (Income), a Singapore-based insurance company and co-operative, has selected the Majesco Distribution Management and Majesco Digital Solutions to optimize management of its sales and distribution channels across the insurance business.
Income provides advice and solutions to over two million people in Singapore, across all segments of society, in support of important financial decisions related to their protection, savings and investment needs. The implementation and strategic partnership with Majesco (Morristown, N.J.) is part of Income’s plan to optimize its distribution management operation and improve sales performance, according to the vendor.
“We expect the Majesco Distribution Management and Majesco Digital Solutions to be a key plank in helping us streamline our distribution operations as we gear up to capture future opportunities in the market,” comments Andrew Yeo, General Manager, Life & Health Insurance, Income. “More importantly, we welcome a platform that will allow us to have an optimized, scalable, agile and efficient distribution operation that will enable our financial planners to not only meet, but exceed customers’ needs and expectations in the next stage of our growth.”
Majesco asserts that the Majesco Distribution Management platform and an agent self-service portal based on Majesco Digital Solutions will enable Income’s financial planners to enhance and manage their customer relationships while providing a dashboard for them and their managers to view real-time sales, performance, compensation and rewards information across the insurance business.
“We welcome Income to our growing community of customers and thank them for their confidence in our team and solution,” comments Ketan Mehta, Co-Founder and CEO, Majesco. “Distribution management is increasingly a strategic business capability required to enable robust growth strategies. We are honored to be partnering with such a forward–thinking and innovative insurer like Income. We look forward to a successful implementation and in supporting Income in its business growth.”
Manage the Entire Distribution Landscape
The vendor describes Majesco Distribution Management System as 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.