Case Study: Life Insurance Carrier Company achieves 29,000-agent broker growth and $1.6M monthly commission processing with Vertafore's Sircon Producer Central and Sircon Compensation

Life Insurance Carrier Company - Customer Case Study

A midsize life insurance carrier serving middle-income families and providing medical coverage to small- and medium-sized businesses across the USA, Canada and Puerto Rico needed to add a broker channel and scale its incentive compensation and agent-management capabilities. The company was hampered by multiple systems for compensation data, difficulty managing agent relationships, and no scalable way to contract and pay brokers. It implemented Sircon Producer Central and Sircon Compensation.

After consolidation onto Sircon for Carriers, the insurer launched a broker channel that grew to 29,000 active agents in five years and reduced contracting time to about five minutes. The single system now supports over 36,000 payees, 6,500 compensation structures and 56 bonus templates, pays an average $1.6M in monthly commissions, and processes roughly 33,000 monthly producer credential changes via PDB integration.