Agency Management

Agency Management often gets left to internally built systems - there are not the same number of systems vendors providing AMS systems as there are those that provide Policy Admin or other components. Further, the business rules around Agency Management are difficult to standardise into an off-the-shelf piece of software. And every insurance company seems to have decided that there are a couple of rules that provide them with a particular competitive advantage compared to how other companies manage their agency channel...

Functionality
So what is included in an AMS?

• Agency Master record (individual details, addresses, bank accounts, etc)
• Hierarchy Management
• Training and Competency - qualifications, regular retraining, etc
• Commission Generation, both basic and overrides, bonuses, etc
  
• Loans
• Competitions and campaigns
• Management Reporting (including "Top 10" style reports)

Usually there will be some level of integration to an Agency Portal, or alternatively there will be portal functionality built into the system. This will allow the agent to see information on their commission/loans/points, plus information on their customers and their policies.

Vendors
Some companies that do offer Agency Management Systems:

• Redland Business Solutions (UK)
• Mastek (India)

Most of the main systems vendors (e.g. CSC, Bravura) have some level of agency functionality within their systems, however it is usually fairly basic. Key areas missing are override structures, competitions, loans, etc). Because the focus of these vendors is actually on Policy Administration, the functionality tends to stop at the point of generating the basic commission.