According to Varicent, for more than 20 years, Sentry has been using a customized, in-house compensation management solution. While the system was able to calculate commissions, bonuses and management incentives, it required heavy IT involvement and was cumbersome to maintain and update. Sentry is looking to increase business user ownership of the application and reduce the dependence on IT.
"Sentry selected Varicent's solution because it provides a rules-based approach to managing our complex sales compensation plans," said Rick Wittmann, Marketing Director, Sentry Insurance. "With Varicent, we will be able to offer our sales force increased compensation transparency; in addition, we are enhancing the sales compensation department's productivity and effectiveness, as a result of replacing old legacy systems and spreadsheets with the Varicent solution."
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The life insurance company, which is also parent to John Hancock Life Insurance, is one-third of the way to its goal of $1 billion in value by the end of 2027.
9h ago -
At UnitedHealth Group, artificial intelligence reads aloud summaries of medical charts as nurses drive to patients' homes. It listens to millions of customer calls to find the causes of complaints. One trial even has AI agents calling doctors' offices to schedule appointments for patients.
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Carlyle Group is unveiling a new framework for portfolio risk so that asset values reflect the insurance implications associated with severe weather shocks.
June 22 -
Privacy, accuracy and transparency concerns are slowing adoption, even as organizations see artificial intelligence as a way to simplify benefits decisions and improve support.
June 22 -
Life insurers have offloaded long-term policyholder liabilities into offshore reinsurance and captive subsidiaries, raising concerns over state oversight of opaque investment vehicles and whether insurers have adequately funded claims.
June 22 -
When a new claim enters the system, a race against time begins.
June 18







