DEERFIELD, IL, January 14, 2011 (Press-News.org) Excentive, a leading global provider of incentive compensation management (ICM) and employee performance management (EPM) solutions, today announced that it received a "Promising" rating in Gartner's recent research report entitled "MarketScope for Insurance Incentive Compensation Management Applications," published on December 11, 2010 by Gartner Research Vice President Steven Leigh.
Leigh notes that the strong growth in purchases of ICM applications by insurance companies "reflects a desire on the part of insurers to address the inaccuracies and inefficiencies many insurers have continued to overcome. Gartner predicts that ICM will continue to be a strong area of interest for insurers." The overall market segment rating was a "Strong Positive", based on Gartner's assessment regarding number of new deals, new entrants in the market, innovation, rich functionality, flexibility and configurability available in the new solutions, increasing regulation, and overall positive insurance customer satisfaction. According to Leigh, "Insurers report that existing legacy and redundant ICM functionality, errors in paying distribution partners, and the cost of maintaining older systems can create sufficient cost justification for replacement."
Gartner selected ten vendors, including Excentive, to review in the Marketscope. To be included in this research, ICM vendors must have at least five production incentive compensation implementations for life insurance, P&C insurance or health insurance worldwide.
"Gartner's research reinforces what we've seen amongst our own insurance customers," says Jeff Yoder, VP of Marketing for Excentive North America, "which is that they want to be able to change commission plans easily and quickly, improve accuracy and more effectively control the performance of their producers. They have outgrown their costly legacy compensation systems."
Excentive provides a new generation of incentive compensation technology that enables insurers to move from legacy systems to a configurable solution that provides accuracy, transparency, and maximum flexibility to respond to market needs. The result is greater control over producer performance across all distribution channels.
MarketScope Disclaimer
The MarketScope is copyrighted 2010 by Gartner, Inc. and is reused with permission. The MarketScope is an evaluation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the MarketScope, and does not advise technology users to select only those vendors with the highest rating. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Excentive
Excentive (www.excentive.com) develops, sells and supports Sales Performance Management (SPM) and Employee Performance Management (EPM) solutions and related services that enable organizations to strategically manage all aspects of compensation and rewards management to employees, distributors, agencies, brokers and channel partners. Its flagship product - Compensation Cockpit - unifies Incentive Management, Planning, Analytics, Variable Rewards, Salary Review, and Long Term Equity Plans. With offices around the world, Excentive delivers a high ROI in a very short timeframe by enabling organizations to align variable compensation plans with strategic goals and rapidly deploy new sales and distribution strategies.
For more information contact:
North America: Jeff Yoder, Excentive, tel +1 203-820-1032, jeff.yoder@excentive.com
Europe: Corine Barbazanges, Excentive, tel + 33 (0)1 74 71 42 28, corine.barbazanges@excentive.com
International: Fabio Ronga, Excentive International, tel + 41 26 504 2512, fabio.ronga@excentive.com
Excentive Included in Analyst Firm's Report on Insurance Incentive Compensation Management
Excentive, a leading global provider of incentive compensation management (ICM) solutions, received a "Promising" rating in Gartner's recent research report entitled "MarketScope for Insurance Incentive Compensation Management Applications."
2011-01-14
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[Press-News.org] Excentive Included in Analyst Firm's Report on Insurance Incentive Compensation ManagementExcentive, a leading global provider of incentive compensation management (ICM) solutions, received a "Promising" rating in Gartner's recent research report entitled "MarketScope for Insurance Incentive Compensation Management Applications."