Qorus Innovation in Insurance Awards 2024

Real Time Agency Commission System- Upfront Commission

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premium
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17/04/2024 Insurance Innovation

About

As a result of economic instability and to address our insurance agents' need for quick cash, we have developed a new system that allows our agents to transfer part of their total commission to their bank accounts 24/7 with the click of a button.

Innovation presentation

The standard procedure at insurance companies is for insurance agents to receive their commission from policy sales at the end of the month after a consensus is reached between the agent and insurance company. However, as a result of the increasing economic instability and to address our agents' need for quick cash, we have developed a system that allows agents to transfer part of their total commission to their bank accounts 24/7. Through this application, agents are able to receive a certain percentage of their commission instantly with the click of a button as a result of our integration with one of the biggest banks in Turkey. With this new application we want to be able to show our agents that we are always there for them and provide them with a unique experience that makes life and business easier.

Uniqueness of the project

- We are the first insurance company in Turkey to provide an application for commissions other than the standardized commission policy that has been used until now

- This application will provide a digital solution to boring paper work and end of month commission operations

- Agent's commission will be paid in 1 second with the click of a button

- We are working with one of Turkey's biggest banks through an open API integration (this is the first integration of this size for the bank as well)

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