Multi-channel Distribution Management Solution (McDMS)

Multi-channel administration, compensation computation, payroll & performance analytics

What is McDMS?

Multi-channel Distribution Management System (McDMS) offers financial services companies, including insurers, takaful operators, banks and unit trust companies an innovative way to support and reward sales teams across multiple distribution channels. McDMS features multi-channel administration, compensation computation, performance management, KPIs, payroll and promotion/demotion, using rule-based automation to process data from multiple core back-ends. With every distribution channel being unique our solution helps companies and agencies consolidate and simplify their diversified needs for improved productivity and sales outcomes.

Why McDMS?

The growth of the financial services sector and complex regulatory compliance have led agents and financial advisors to demand higher level of service from their financial providers. They expect providers to utilize the technological solutions and enhance their experience. Distributors and agencies expect comprehensive features, specific measures and personalized reports to help them manage and grow their businesses. Regardless of the business size, McDMS help improve overall service efficiency, reduce cost and simplify management of their downline sales teams at all levels. Thus, financial providers/agencies need to be equipped with a personalized, flexible and customizable system that supports their distribution channels effectively.

Features of McDMS

Channel, Performance Management & Administration

Flexible, configurable and scalable solution to support various types of distribution channels with diverse structures, compensation schemes, and performance requirements.

Multi-Channel Portal Management

Comprehensive web portal features with notification services, proposal tracking and mobile web capability. Enables personalized content for effective information management and delivery.

Compensation Computation & Reporting Engine

Robust, integrated and customizable engine for channel specific compensation schemes to ensure accurate and timely processing to reward the sales agents.

Referral Administration, Computation & Reporting

Referral Profile Registration & Maintenance
Referral Incentive Computation
Referral Incentives Reporting for Individual Referral and for Agent

Rules based configuration by Channel / Agency

Channel rules
Compensation rules
Bonus rules
Promotion / Demotion rules

Spin-Off Promotion / Demotion & Computation

Income & Compensation Structure Setup & Administration
- by Channel / Agency
- by Product Group / Type
- Roll-up / Roll-down configuration

Income Computation & Reporting Engine

Income and Compensation Report Import / Upload from Insurance Core Systems
Overriding Income Computation for Channel / Agency per Income Structure (by Channel / Agency & Products) and Channel / Agency Hierarchy
Overriding Income Auto Roll-Up feature

Balanced Score Card (BSC)

Strategic planning and management system that organizations use to:
- Communicate what they are trying to accomplish
- Align the day-to-day work that everyone is doing with strategy
- Prioritize projects, products, and services
- Measure and monitor progress towards strategic targets
121Advisor provide service based on company requirement

System Administration and Managed Services

Role-based user access with audit trail for better system security. This is managed and serviced by 121Advisor professional system support services for greater efficiency and lower maintenance costs.

Income Statement, Reports & Auto-Payment File

Consolidated Income Statement
Year End Income Statement (CP 58)
Consolidated Production Report
Persistency Rate Statement
Auto-Payment

Channel, Performance Management

Agent Registration
- Manual registration by admin
- Auto-registration via ‘AGENT’ data file, during processing
Agency Hierarchy
- Agency Hierarchy
- Agent Enquiry
- View Agent Profile
- Download Agent List
Download Agent List
- Download Agent List
- Auto-update from ‘AGENT’ data file, during processing
Performance Review
- Performance Review
- Approve movement recommended by system according to performance review rules

Channel & Performance Management & Administration

Channel / Agency Setup & Maintenance
Channel / Agency Hierarchy Maintenance
Manage agents in multiple channels
Agent Profile Maintenance (Setup, Import, Admin)
Agent Performance Overview
Performance Reporting & Administration (Promotion, Demotion, Transfer)
Agent Production Reporting (consolidate from Insurance Systems)

Compensation Computation & Reporting

Proposal Submission
- Register proposal
- Download Submission Data
Download Submission Data
- Process data files
- Calculate distribution of commission
- Upload & Process ‘Auto Deduction’ File
- Calculate net payment
Computation & Reporting
- Commission: Income Statement, Payout Report, Auto Deduction Report, Exception Report
- Production: Production Report, Pick-Up List
- Persistency Report
- Subscription Fee Report
- Year-End Bonus Statement
- CP58 Year End Income Statement
Payment
- Generate Payment Listing
- Generate MBB Payment File upon approval

Multi-Agency Portal Management

Service Request Management
- Service Request Application
- Service Request Tracking
- Service Request Workflow Management
Web Content Management
- Channel / Agency’s Web Content
- Channel / Agency’s News / Announcement
- Channel / Agency’s Content Library (Downloads, Product Info)
Web 2.0 Content Applications
- Blog (Advice, Guides, Help)
- Knowledge Management (Wiki, Document Library)
Web 2.0 Community Applications
- Forum (Group / Team discussion)
- Poll (Polling, Opinions, Votes)
- Social Media Interface
e-Learning Management
- E-Learning Registration
- E-Learning Library
- E-Learning Integration