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The lean commission system for insurance companies

With our flexible commission system Faktor-ICO, you can manage the complex remuneration of your insurance sales simply and efficiently.

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Digitalization is leading to increa-singly complex processes in the area of sales and agent remuneration

These circumstances are creating increasing demands on commission calculations, variable remuneration, and bonus systems, and are presenting insurance companies with additional challenges.

With our commission system for insurance companies, Faktor-ICO, you get a lean but powerful software solution to meet these challenges. The commission solution Faktor-ICO supports you significantly in your multi-channel sales by allowing you to centrally settle different sales channels – for all divisions and with different commission models. Complex organizational structures and hierarchies in sales also pose no problem. Our solution is built from the ground up as an extensible system to adapt perfectly to your requirements.

Faktor-ICO is lean and powerful at the same time

Factor ICO includes exactly the functions needed to remunerate insurance contracts that are missing in a general-purpose system. This includes the calculation of commissions based on pro-rata contributions or valuations, as well as retroactive changes while taking into account applicable liability rules. Our commission system offers a simple but powerful management of intermediaries and policy allocations. If required, this can be easily replaced.

As part of the Faktor Zehn Suite, the commission system Faktor-ICO is optimally positioned for use together with our policy management system Faktor-IPM. All business functions are also available as REST API, so that the integration into existing system landscapes is also possible without any problems. In addition, the connection to collection/disbursement systems is already well prepared.

Product highlights

    • Shield icon with a highlighted hook

      Specifically for insurance companies

      By focusing on insurance companies, our commission system provides all relevant functions to map even complex remuneration scenarios.

    • Icon of 4 arrows in different directions, one of them highlighted in blue

      Customizable expandable

      Special requirements for policy valuation, commission calculation, liability regulations or organizational structure of sales are implemented precisely via simple interfaces.

    • Puzzle icon with 4 pieces, one of them highlighted

      Easy to integrate

      In addition to the smooth connection to other Faktor Zehn components, our commission system can also be conveniently integrated into existing system landscapes thanks to REST interfaces.

    • Shield icon with a highlighted hook

      Specifically for insurance companies

      By focusing on insurance companies, our commission system provides all relevant functions to map even complex remuneration scenarios.

    • Puzzle icon with 4 pieces, one of them highlighted

      Easy to integrate

      In addition to the smooth connection to other Faktor Zehn components, our commission system can also be conveniently integrated into existing system landscapes thanks to REST interfaces.

    • Icon of 4 arrows in different directions, one of them highlighted in blue

      Customizable expandable

      Special requirements for policy valuation, commission calculation, liability regulations or organizational structure of sales are implemented precisely via simple interfaces.

  • Shield icon with a highlighted hook

    Specifically for insurance companies

    By focusing on insurance companies, our commission system provides all relevant functions to map even complex remuneration scenarios.

  • Icon of 4 arrows in different directions, one of them highlighted in blue

    Customizable expandable

    Special requirements for policy valuation, commission calculation, liability regulations or organizational structure of sales are implemented precisely via simple interfaces.

  • Puzzle icon with 4 pieces, one of them highlighted

    Easy to integrate

    In addition to the smooth connection to other Faktor Zehn components, our commission system can also be conveniently integrated into existing system landscapes thanks to REST interfaces.

Would you like to see Faktor-ICO in action?

Then request an exclusive and free demo ap­point­ment now!

Product advantages

  • Icon of a light bulb

    How your business users benefits

    • Includes the most important functions for calculating commissions based on pro-rata premiums and policy valuations
    • In particular, retroactive changes of policies under consideration of individually adaptable liability regulations are supported
    • Simple but powerful agent management for policy allocation is included
    • Supports the correction of policy allocations, including the technically correct recalculation of commissions based on applicable regulations
    • Easy-to-use user interface for business users
    Professional advantages
  • Gear icon with highlighted center

    How your development department benefits

    • 100% Java
    • Supports all major SQL databases
    • Lean Spring Boot application that is optimally suited for operation in containers
    • Easy to understand data model and clear table structures in the database
    • REST API for all business functions
    Technical advantages

Core function overview

1

Commission calculation

Faktor-ICO allows easy calculation of commissions based on pro-rata contributions or policy valuations.

2

Customizable compensation calculation

The core aspects of compensation administration are customizable to the insurer’s requirements. Whether it is the administration of commission contracts, policy valuation, liability rules or the mapping of the sales organization structure.

3

Change business

Processing of (retroactive) changes under consideration of individually adaptable liability rules.

4

Intermediary management and portfolio allocation

The inclusion of management of intermediaries and policy allocations based on policy pools allows particularly simple policy transfers. Corrections of portfolio assignments are easily possible and include the technically correct recalculation of commissions. And if required, the entire intermediary management system can be easily replaced.

5

Integrated into the Faktor Zehn Suite

As part of the Faktor Zehn Suite, the Faktor-ICO commission system is based on our stable technology stack and proven concepts. The connection to our existing system Faktor-IPM is delivered out-of-the-box.

6

Comprehensive REST API

Faktor-ICO offers a simple REST API for all business functions. The connection to existing systems is possible without any problems.

Faktor-ICO Downloads

  • Faktor-ICO Flyer

    Learn more about the Faktor-ICO commission system in our product flyer.

    Herunterladen

  • Press release BavariaDirekt - Faktor_ICO

    BavariaDirekt is the first customer to set the new Faktor-ICO commission solution in productive use.

    Download

Would you like to learn more about Faktor-ICO?

Contact us

Portrait photo of our Managing Director Jan Ortmann