CBoxx have established a software library that can be re-used on any project we are involved with:

• Origo Standard Automated Commissions (XML/EDI)
• Origo Standard New Business Tracking (XML)
• Plan/Policy Matching Solution
• Origo Standard Secure Message Delivery
• Proven UK Financial Services Industry Data Model

Origo Standard Automated Commissions (XML/EDI)

Receiving commission statements electronically allows the accurate reporting, allocation and management of commissions to policies, agencies and advisers essential to distributor firms and especially those moving to a primarily fees plus trail commission based business model. Such firms are realizing that managing the exponentially increasing volume of small trail/renewal payments is a problem that demands automation.

Most firms have a growing business and regulatory need to measure, allocate and manage all of their trail and renewal commission payments. Some are taking spreadsheet data and then following heavily manual processes to get the data they need to where they need it. CBoxx can assist with the automated collection of commission payment data, production of the relevant reports and integration into back office reconciliation systems and adviser bonus / remuneration schemes.

Origo Standard New Business Tracking (XML)

CBoxx have built systems to receive, view and analyse Origo standard New Business Pipeline Tracking messages from UK Life and Pensions Product Providers.

Tracking is for nationals, regionals, networks and network members who have a business need to understand exactly where any newly proposed business is in the new business pipeline process, proactively deal with any delays and to verify their expected commission diaries.

Users are able to search and view tracking data received from product providers as it arrives (usually daily). Specific actions required will be prioritized and alerted, for example, if a client has failed to provide some necessary paperwork to complete underwriting. This can vastly improve the quality of customer service that the adviser is able to offer.

Tracking messages are far more than a series of alerts as an application proceeds through the providers underwriting process. They also provide detailed client, policy and commission information that is collated and can be used to generate key management reports, vital to the efficient operation of a distribution business.

Plan/Policy Matching Solution

There’s a serious problem in this industry that has to be overcome with any system that receives electronic policy linked messages (e.g. Commissions, New Business, Contract Enquiry etc) and has to marry the information received to the corresponding Policy records on the Back Office Administration system.

The problem is human error. Plan / Policy numbers entered on one system frequently do not match precisely on another system because two different people have usually entered them manually. The problem is surprisingly big and there is often a manual process somewhere in the chain to resolve it.

CBoxx have developed a clever matching component that can be used to assist in a manual matching process or built into an automated process. Either way it saves time and therefore money. Click the image for a demonstration …

Origo Standard Secure Message Delivery

CBoxx have worked with a variety of systems for the secure delivery of Origo standard messages, for example:

• The Easylink Value Added Network used for the majority EDI Commission traffic in the UK
• The Assureweb APe service for New Business Tracking XML messages
• Synchronous and asynchronous HTTPS POST used for portal Quotations and New Business XML messages

Proven UK Financial Services Industry Data Model

At the heart of every service and application that has been built and/or designed by CBoxx is a data model that captures the essential relationships and rules of interaction between the various types of organisation in the UK Financial Services Industry. This particular facet of our knowledge has proven to be an enormous benefit to many of our clients – the most recent example being the Origo Agency Administration Service that models the interactions between:

• Directly Authorised Adviser Firms
• Service Providers
• Appointed Representative Adviser Firms
• Networks
• Distribution Group Hierarchies of the above
• Product Providers
• The Financial Services Authority

The rules enforced by the organisation model are refined and extended according to the specific business needs of the application we are designing.

Our Business Modeller tool, for example, models the Client Segments, Costs and Product Ranges of Adviser Firms.

The Agency systems designed by us model the Agency hierarchies appropriate to each organisation and can even integrate directly with the electronic administration services published by the FSA.

Commission Reconciliation systems allocate inbound Payments to the appropriate Adviser, Client, Division, Branch, Policy etc perhaps making use of our Policy Matching components to tie up with the Back Office in a straight through process.