Insurance Agent and Distribution Management

Synygy enables insurers to realize a competitive advantage through agility in agent and distribution management.

Blue Cross and Blue Shield Lousiana

Organization:

Blue Cross and Blue Shield Lousiana

Location:

United States

Website:

www.bcbsla.com

Industry

Health Insurance

Description

Founded in 1934, Blue Cross and Blue Shield of Louisiana is the oldest and largest health insurance company in the state of Louisiana, with more than 1 million members. The organization is committed to improving the lives and well-being of Louisianans by offering affordable and quality health care.




Before Synygy

  • Inflexible legacy system prevented strategic alignment
  • Overpaying producers $11 million per year
  • Lack of clear visibility into plan performance
  • Inability to model and forecast payments
  • Substandard producer relationships due to inaccurate payments
  • Costs associated with dedicated commissions resolution unit

With Synygy

Sales Strategy Enablement

  • Remove $12 million in annual cost by aligning pay and performance
  • Enhance change management by accessing expert resources and best practices
  • Reduce payroll expense by eliminating dedicated commission support team

Sales Force Motivation

  • Add agility through faster and more flexible modeling
  • Raise morale with faster and more accurate payments

Sales Performance Insight

  • Gain visibility into producer performance through better reports
  • Accelerate integration of cleansed and validated data



Cigna Healthcare

Organization:

Cigna Healthcare

Location:

Global

Website:

www.cigna.com

Industry

Health Insurance

Description

Cigna is a global health service company offering medical, dental, behavioral health, pharmacy and vision care benefits, and other related products including group disability, life, and accident coverage. Products are provided to individuals, and through employers, brokers and consultants.




Before Synygy

  • Challenges managing commissions for 15,000 broker channel
  • Nearly impossible to access or adjust processes
  • Difficulty driving correct selling behavior
  • Potential compliance issues

With Synygy

Sales Strategy Enablement

  • Increase agility through easy adjustment of commission rates
  • Improve selling behaviors through equitable compensation

Sales Force Motivation

  • Boost confidence through streamlined onboarding of new producers
  • Enhance producer communications with overnight commission updates
  • Cut risk by shifting onus onto producers to resolve compliance status

Sales Performance Insight

  • Create a highly flexible, parameterized commission system
  • Align underwriting ratings with commission structure, dynamically





Provider of Better Retirements

Organization:

Provider of Better Retirements

Location:

North America

Business:

Diversified Financial Services

Description:

Provider of Better Retirements is a Fortune 500 company focused on four core business areas: life insurance, annuities, retirement plan services, and group protection. With more than 9,000 employees, Provider of Better Retirements is built around supporting, preserving, and enhancing customer lifestyles and providing better retirement outcomes.




Before Synygy

  • Manual calculation and reporting of sales commissions
  • Inability to model and forecast payments
  • Lack of clear visibility into plan performance
  • Unrealized sales potential due to misunderstood plans

With Synygy

Sales Strategy Enablement

  • Support management in driving desired selling behaviors
  • Enhance agility through modeling impacts of change
  • Transform communication with sales force

Sales Force Motivation

  • Enhance motivation through faster payments
  • Boost confidence in payment accuracy

Sales Performance Insight

  • Reduce business risk through better compliance controls
  • Push continuous improvement by reducing payment variance
  • Aid agile decision making with actionable information







How can you drive revenue and lower costs of sales?