Axisvation Technologies

Insurance Agent Commission Processing Framework

AxCom is Commission processing Framework for General insurance companies, which calculates commission for intermediaries like Agents, Broker, etc. AxCom Framework offers rule based workflow support in order to approve the commission on transaction, transaction type, Intermediary, location specific, volume base, also it controls various COA (Cost of acquisition) control.

AxCom has two major modules, Commission calculation and Commission matrix approval.

AxCom manages four types of Commission matrix as follows.

  • Policy wise
  • Product wise
  • Broker wise
  • Premium wise

AxCom is fully parameterized and can handle many complex commission rules, as rules in Insurance sector changes very frequently.

AxCom- Key Features

  • Flexible Commission Grid management aligned with IRDA compliance.
  • Exceptional commission processing speed (5 Lac Transactions in 1 hour).
  • Fully configuration rules for commission processing.
  • MIS report on payout based on various parameters such as commission cycle,Intermediary,location,transaction type etc.
  • Offers excellent work to integrate with core transaction system and accounting system.
  • Commission reconcilliation for check dishonor and policy cancellation.

AxCom - Business benefits

  • Easy and accurate to calculate commissions for intermediaries
  • Cost effective, less effort require for calculating commission
  • Easy to implement complex commission rules
  • Fully automated

Axisvation Technologies Pvt. Ltd.
Head Office
Unit # 7, Building 6, Sector 3, Millennium Business Park, Mahape,
Navi Mumbai 400 710, India.
Contact: +91-22-67938943

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