Case Study: Friends First achieves unified agency & commission management and automated payments with Majesco Life DistributionPlus

Friends First’s Digital Journey in Digital Management

Friends First, a leading Irish financial services group serving about 250,000 clients with over €4.4 billion in assets and 450 employees, was relying on spreadsheets and a patchwork of databases to manage agent and commission processing. The manual, error-prone setup produced poor management information, compliance challenges, commission leakage and low broker satisfaction, and was costly and difficult for IT to maintain; the firm needed a comprehensive solution to support complex distribution hierarchies, product types and regulatory requirements, including buy-out valuations.

Implementing Majesco Life DistributionPlus unified all agency and compensation administration onto a single platform and automated previously manual tasks. The result was prevention of further commission leakage, major operational efficiencies, improved audit and compliance capability, faster and cheaper regulatory responses, better MI for decision-making and agency monitoring, reduced IT development costs and lead times, and improved service levels (recognized by a broker community award).

Friends First