Insurance Industry

Control Risk and Respond to Change with Confidence

Attracting and retaining top talent in the increasingly competitive insurance industry is critical. With more stringent regulatory requirements, Varicent Incentive Compensation Management makes effective use of your data to support decision-making, improve your employee experience, and fuel growth.

Your Company's Performance is At Risk

The pressure is only increasing. Although your legacy technology is slowly being updated, you are under a time crunch to hit aggressive growth targets and comply with new regulations using the same old tools. Your agents and producers feel isolated with no transparency to their own data and payments. And if questions arise, they must endure a complex process to get answers.

Employee Satisfaction is Lagging

Siloed technology, data, and inefficient processes have made it difficult to improve your employee experience as well as the onboarding and payment of new producers.

Sales rep frustrated by inefficient data
Sales professional using incentive compensation management

Technology is Stuck in the Past

Legacy systems make it difficult, error-prone, and scary to make changes to incentive compensation. So, the status quo is often seen as the easiest strategy.

Performance Data is Incomplete

There is limited visibility into the performance of agents across multiple lines of business, making it increasingly difficult to make decisions based on consolidated information.

ChallengeThree
Broken piggy bank leaking cash

Compliance is Costly

Changes in regulations are the norm but it is difficult and costly to respond to new reporting requirements in a timely and cost-effective manner.

Why Varicent
for the Insurance Industry

Varicent enables businesses to continually refine and improve their sales strategies - plan, operate, pay, and strategize - to maximize revenues.

Varicent ICM can help you remove friction from the sales compensation process, improve incentive calculation, adapt your sales strategy to shifting business priorities, and enable your compensation admins. It uncovers new insights to incentivize the exact sales behaviors needed to not just drive-up total yield, but outdo previous performance benchmarks.

Sales rep in the Insurance industry using Varicent Incentive Compensation ManagementMask Group

Sales professional content with full transparency reporting from Varicent ICM

Full Transparency

With Varicent's single platform and transparent calculation engine, offer your sales associates full transparency at work or on the go. Use AI-powered chatbots that enable quick issue resolution to improve your employee experience and retain your best talent.

Insurance professional making quick last minute changes with Varicent ICM

Close On Time

Make last-minute changes, corrections, and adjustments and still close on time with Varicent's unique architecture. It combines data optimization with a robust calculation engine for maximum speeds.

Sales professional leveraging reporting ai-reporting

Access Accurate Information

Rapidly adapt to market situations and focus more time on ensuring your incentive plans align with your client's needs. Access the most recent and accurate information across your organization, from head office to local branches, with confidence. Leverage AI-driven reporting to ensure compliance with regulatory changes as they occur.


Varicent By The Numbers

65

80% reduction of time spent on auditing and compliance

65

65% reduction time spent on payout process and incentive calculation

12.5

12.5% increase in sales productivity after implementation of SPM

60

60% reduction in shadow accounting

Our Products

Our feature-rich, flexible and scalable suite of solutions enable you to pivot from processing incentive compensation to true Sales Performance Management.

Varicent ICM dashboard desktop screenshot

Varicent Incentive Compensation Management (ICM) for Enterprise

Removes friction from the compensation process, accelerates the ability to make plan changes and adopt new strategies, and enables new insights to outdo previous performance.

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Varicent Concert

Unlocks your team's productivity and performance with a better comp plan through the science of incentives and the psychology of commissions.

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Varicent Territory and Quota Planning dashboard desktop screenshot

Varicent Territory Quota Planning

Automates the mechanics of sales territory and quota planning. Take back lost time and focus on strategies to maximize revenue.

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Varicent Revenue Intelligence

Enhances your sales forecasts to discover opportunities earlier. Unlock a wide breadth of breakthrough revenue insights - from predictive forecasts to opportunity scoring and seller performance.

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Varicent Symon.AI

Helps you find meaningful data patterns in complex sales systems so you can drive better business outcomes. Augmented Intelligence transforms your data into evidence.

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Trusted By Customers

We continue to enhance our client experience, along with our passion for providing innovative technology across Sales Performance Management programs. Meet our customers who have improved their sales strategies and commission management by using Varicent.

wawanesa

“Varicent provides us with rich dashboard reporting so that we can manage our internal performance, and our brokers have the ability to manage the performance of their books as well."​

Paul Fast, Manager,
Executive Office Business Development,
Wawanesa Insurance

Read Their Story

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Recommended Resources

Sales Performance Management best practices eBook

Sales Performance Management Best Practices: Avoiding the 7 Deadly Sins of SPM

After numerous projects, we recognized similar root causes coming up repeatedly. Download our Seven Deadly Sins of Sales Performance Management white paper to learn about the identified sins, how to avoid them, and create the best practices for your SPM.

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Sales rep happy with commission planning

Commission Smarter, Not Harder: New Insights from the 2021 State of Sales Comp Benchmarks Webinar

Whether you’re just trying to plan for 2022 through the uncertainty that is COVID or you’re desperately trying to retain talent through The Great Resignation, this webinar shares insights on how to combat burnout and create better comp plans.

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Sales performance management Forrester eBook

Sales Performance Management: A Forrester Perspective

Do you know the difference between sales compensation management (SCM) and sales performance management (SPM)?This brief from Forrester describes the difference between SCM and SPM and includes the components required to accelerate the performance of your B2B sales teams.

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Ready to get started?

Get a custom product demo from one of our SPM experts today. See how Varicent Incentive Compensation Management meets your business needs for today and tomorrow. Connect with us!

Schedule Your Demo

Insurance Industry sales professionals ready to book a demo with Varicent