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Scope of services
The insurance administration services that we provide include: -
- Handling the submission of policy application to insurance company
- Data entry of client and policy details on iFAST Insurance Management System (IMS)
- The provision of a reliable commission accounting and management system and better projection of cash flows for the insurance business via the Commissions Management System (CMS) which will:
- capture all insurers' products commissions
- generate commission receivables for financial advisers and reconcile with commission payment from insurers for transactions every month
- calculate commission amount payable by FA Company to its FA representatives
- Providing regular business and sales reports to track productivity via
- Sales Report
The Sales Report will show all policies with premiums paid up to the latest month and over selected periods. It will show business production volume up to the latest month and year-to-date
- Commission Report
The Commission Report will show all in-force policies with commission paid by the respective insurance companies up to the latest month. The commission Reports will show commission earnings up to the latest month and year-to-date.
With a consolidated business management dashboard, financial advisers can view their practice from a commission or product standpoint. Financial advisers can analyze trends and evaluate their business from every angle to determine where they are now and where they want to be. A great tool for setting and tracking business goals!
- Providing online tracking of status of life insurance application
- Providing online viewing of consolidated insurance policies for clients, advisers and company.
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