Multi-channel Distribution Management Solution (McDMS)

For general agencies, IFAs, brokers to simplify operations by consolidating their diverse requirements. With built in performance management and compensation computation our clients have seen improved sales with reduced administration costs.

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

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

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

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

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

  • Channel rules
  • Compensation rules
  • Bonus rules
  • Promotion / Demotion rules

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

  • 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

  • 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

  • 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.

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

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

  • 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)

  • 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

  • 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

Benefits of McDMS

Customers increasingly expect products to be available via more than one channel

Allows more target market segments to be reached

Secure, regulatory compliant, cost effective hosted services solution

Flexible rules-based compensation

Manage multiple-channels for example agents selling both Insurance and Unit Trust with different compensation rules

Integration to multiple data formats from back-ends

Options for agent activity management tracking and KPI targets

Generation of CP58 income tax statements

Rule based Promotion, Demotion Recommendations

Easily manage agency hierarchies

Agent referral tracker

Enhance ability to cross sell and re-market to all clients

Real-time system responsiveness

Learn how it works

  • Data File Generation and Transfer
    • Data generation at source systems
    • Data transfer to McDMS system server
    • Data file verification
  • Processing and Verification
    • Processing & Verification at McDMS system
    • Verification by McDMS person-in-charge
  • Review and Approval
    • Report review & Approval from Agency leader
    • Agency leader download payment file and upload e-payment server
    • Agency leader upload payment receipt to McDMS system
  • Publish reports
    • Publish reports at McDMS system

McDMS

Multi-channel Distribution Management Solution

Request for a Demo

We look forward to showing you how our solution allows you to build a seamless customer experience for your customers.

Request a demo now and experience the McDMS yourself!

Request Now

Solutions

All your Digital Needs with 121Advisor's Customer First Connected Enterprise Digital Framework

PAM

Building Predictive Analytics Models (PAM) for Banking, Insurance & Takaful

Building Predictive Analytics Models (PAM) for Banking, Insurance & Takaful. 121Advisor solutions focus on predictive marketing & sales, customer service, new business underwriting, personalization and claims management.

Learn more
FITbot

Multi-lingual Chatbot for Financial Insurance & Takaful (FITbot)

Multi-lingual Robo Advisor and chatbot that utilizes hybrid trees and natural language processing (NLP) to engage with customers to offer a more personalized customer experience and generate more referrals.

Learn more
WebPoS

Web Portal Solution for Sales & Servicing (WebPoS)

Multi-lingual mobile responsive website and portal solution to enable clients to experience a unified personalized digital experience where content, sales, marketing and work management are consolidated instead of siloed.

Learn more
ReMMA

Referral Management & Marketing Automation (ReMMA)

Effectively and efficiently auto-assigns, tracks and manages lead refferals and conversions based on user defined workflows. Marketing automation results in personalized content delivery, targeted campaigns and engagement.

Learn more
WebPoS

Sales Activity Mobile App (SAMA)

Allows agents to effectively plan and manage sales activity to ensure all leads and prospects are addressed. Managers can monitor realtime to render assistance where necessary.

Learn more
COS

Choices Online Store (COS)

Allows insurers and takaful operators to provide direct purchase of products online. Can integrate with Multi-lingual Chatbot for Financial Insurance & Takaful (FITbot) robo-advisor services as well as referrals via Referral Management & Marketing Automation (ReMMA).

Learn more
TIMMS

Takaful & Insurance Mobility Made Simple (TIMMS)

A cross platform mobile point of sales solution allowing agents to identify client financial needs via Customer Fact Find, recommend products, make presentations, generate quotes and e-submit applications, in a regulatory compliant process.

Learn more
CSSP

Customer Self-Service Portal (CSSP)

Reduces operating cost by enabling the customer to view their detailed information in terms of profile, policies and contracts purchased online, make renewal payment, submit service requests, seek information, or file a complaint.

Learn more
WebPoS

Community & E-worksite Marketing & Distribution (CeMD)

Community portal solution allows organisations to engage with members of their community to nurture trust and create advocates thereby improving customer retention.

Learn more
WebPoS

Multi-channel Distribution Management Solution (McDMS)

For general agencies, IFAs, brokers to simplify operations by consolidating their diverse requirements. With built in performance management and compensation computation our clients have seen improved sales with reduced administration costs.

Learn more
WebPoS

Enterprise Product Configurator (EPC)

Reduce the time to market for insurance and takaful products. Built to rapidly setup product rates, illustrations, validation engine as well as automated testing module allows quick product deployment.

Learn more