Insurance compensation management software to accelerate sales

Insurance compensation management software that not only streamlines the entire compensation process, ensuring efficiency, transparency, and accuracy, but also the intricate aspects of insurance sales compensation structure. Whether you're an insurer looking to optimize payouts, a claimant seeking hassle-free compensation, or even if you're managing the complex insurance sales compensation structure, we have you covered.

Robust platform
Stay flexible with your incentive programs at any scale.
Seamless integrations
with any local or cloud-based sales tech stack
Timely payouts
Payout workflows with a built-in rewards catalogue
G2
4.9 out of 5
Gartner
4.8 out of 5
Capterra
4 out of 5

Xoxoday is trusted by renowned global brands

Insurance compensation management software for enterprise that gets you up and running in a few hours

Turn your largest sales expense into a business growth driver. Transform how you manage, pay, and reward insurance agents every pay cycle with our insurance agent compensation software.

API-first platform

Xoxoday Compass helps simplify sales compensation plans by easily integrating with a Spreadsheet, CRM, ERP, or DMS of your choice.

Flexible and scalable

Our no-code components adapt to your business needs and help calculate millions of records on a daily or ongoing basis effortlessly.

Smart user interface

Easy-to-read dashboards that visually display user’s completed sales, commissions earned, and leaderboard ranking.

Common challenges faced by insurance companies in compensation management

Complex insurance sales compensation structure

The insurance sector often has multi-layered compensation structures, including base salaries, commissions, bonuses, and other incentives. Managing these structures effectively requires sophisticated software and expertise to ensure that payments are accurate and that the company's interests align with the compensation models.

Regulatory compliance

The insurance industry is highly regulated in many jurisdictions. Adhering to compensation regulations (which may vary from region to region) can be challenging. Companies need to ensure that their compensation plans meet local, state, and federal regulations to avoid penalties, legal actions, and reputational damage.

Balancing motivation and costs

Compensation is a key motivator for sales and performance in the insurance sector. However, companies must balance offering competitive compensation packages to attract and retain top talent and controlling operational costs to maintain profitability. Striking this balance can be challenging, especially in competitive markets where talent may be easily lured away by more attractive offers from competitors.

Data management and analysis

To determine appropriate compensation levels and structures, insurance companies rely on vast amounts of data related to market benchmarks, company performance, individual performance metrics, and more. Managing this data, ensuring its accuracy, and analyzing it effectively can be complex. Any errors or oversights can result in overpayments, underpayments, or misalignment of incentives, leading to financial losses or decreased employee morale.

What we found

Insurance companies who have automated incentive calculation system and real-time visibility into key KPIs tend to be motivated and progress to goals faster.

Backed by 3rd party research and Product usage metrics
20%
savings on incentives budget
95%
reduction in incentive processing time
80%
increase in sales productivity

Insurance compensation management software to drive sales

Harness the power of automation and game mechanics to drive sales and motivate your agents like never before. Gone are the days when managing commission programs was a tedious task. With Xoxoday Compass, insurance agent compensation software, you're not just buying a tool - you're investing in the future of your business. It automates compensation plans for insurance, ensuring precision and efficiency. The software allows for:

  • Easy creation and customization of compensation plans.
  • Automating the calculation and distribution of bonuses and commissions.
  • Real-time visibility into performance and earnings.
  • Analytic and reporting capabilities to drive revenue growth.

Why go for Xoxoday Compass Insurance compensation management software

Discover the transformative power of state-of-the-art insurance compensation management software that turbocharges your sales team, ensuring they meet and exceed their goals.

Automate complex compensation plans

Don’t drown in spreadsheets and paperwork. With Xoxoday Compass, setting up your commission program is a breeze. From the initial launch to commission calculation, from performance management to payout disbursement, we've got you covered.

  • Combine data and execute programs to boost KPIs like GWP, Policy sales, Referrals, and more.
  • Design and automate intricate programs with specific rules, conditions, and equations.
  • Achieve error-free compensation through automated commission calculations.
  • Guarantee timely payout distributions by streamlining the multi-tiered approval process for stakeholders.

Make sales fun and rewarding

Turn the daily grind into an exciting journey. With gamified sales experiences, agents get more than just commission. They receive the motivation to become the best. Real-time access to OTEs and commissions is more than a feature; it promises transparency and recognition.

  • Promote sales-driving behaviours through gamification centred on ambitious targets and significant incentives.
  • Encourage a positive environment using leaderboards, scorecards, and achievement badges.
  • Send automatic reminders to agents regarding their objectives and inform them about their rewards and earnings.
  • Offer agents the flexibility to cash in rewards as money, pre-loaded gift cards, experiences, or vouchers.

Strategic insight, better decisions

Knowledge is power. Gain a deep understanding of your sales channels and strategies using our real-time analytics. Predict, plan, and achieve targets faster than ever before.

  • Use predictive analytics to steer sales forecasts, fine-tune targets, and reach objectives more quickly.
  • Monitor agent performance and commission-centric KPIs through user-friendly, adaptable dashboards.
  • Boost agent motivation by granting immediate access to their performance indicators.
  • Gather insights from previous programs to enhance plans, goals, and agent alignment for upcoming initiatives.

Payouts & rewards

Keep your brand at the top of mind for partners with incentives & rewards 

  • Motivate your partners to do more by sending timely appreciation messages, incentives, and rewards
  • Integrate Xoxoday Compass with your payroll systems and disburse incentives as a part of partners’ salaries
  • Send personalized rewards and gift cards for different milestone achievements by integrating with our global rewards catalog.

graphical user interface, application

View real-time data and insights to make faster decisions

Powerful, real-time insights along with predictive analytics help you plan better, across teams and the organization.

  • Turn data points into a graphical representation
  • Simulate business metrics based on historical data
  • Utilize intelligence from past programs to optimize targets and incentive payouts

See what our customers are saying about us

Friendly and efficient team

“ Such a customer friendly team and best professionals to take care of our business requirements. I believe that your strength is your team members and their passion for work. Keep up the good work guys, it’s time for me to move on with my career, but wherever I go, if given an opportunity, I would recommend Compass along with this efficient team. I wish you all success. ”

Great Range of Rewards!

“ The engagement tool is extremely comprehensive for managing rewards, incentives and loyalty programs. It is simple to implement across departments/ functions and highly intuitive for users across the spectrum be it a senior sales professional or a front-line delivery executive. ”

Happiness quotient is 100%

“ Compass helped in increase the happiness quotient of our salespeople resulting in better productivity and therefore the ROI that we as a company get on the product is significant. Digitization of rewards and instant gratification are critical as far as the sales department is concerned and  Compass is catering the same. ”