NYON, SWITZERLAND--beqom, a cloud-based compensation management software provider, has announced that Groupama Group, one of the leading mutual insurers in France, recently passed the 10-year mark as a user of beqom’s sales performance management solution to drive results from its sales force. Groupama was an early user of beqom’s on-premise solution, moving in recent years to beqom’s cloud platform.
“Over the last 10 years, beqom has enabled Groupama to use compensation strategically and tactically to direct sales behavior exactly as needed to meet our objectives,” says France Duchamp, Regional Applications Coordinator for Groupama Paris Val de Loire.
Since implementing beqom's compensation management software, Groupama’s commission processing time dropped by 600%: from 12 hours to 2 hours.
Groupama has 12 million members and customers across 10 countries and 32,000 employees throughout the world. With premium income exceeding €14 billion, the insurer needs competitive, agile performance-based incentives for its sales network and consultants. This process requires tracking and linking more than 70 performance indicators to the compensation of its sales representatives. Before beqom, Groupama did not have a sales compensation system that was flexible enough to implement the sophisticated incentive strategies and could not provide the consolidated reporting needed to analyze its performance indicators and gain insight from the results.
“beqom was founded in 2009, and Groupama was one of our very first financial services and insurance customers,” says Emmanuel Frenck, beqom Head of Sales for EMEA South. “We have had a great partnership as Groupama has expanded its use of beqom over the years to help drive the business in a very competitive environment.”
Groupama initially implemented beqom for one sales division, but quickly expanded to others. Since then, the Sales Operations team has been able to continually update the many variables that go into calculating compensation for the sales teams, so they can update factors such as rates, compensation ceilings, and minimum objectives as often as needed to keep up with evolving business strategies for each segment.
“We like that we can change plan parameters within beqom on the fly,” says Duchamp. “That lets us tune the incentive structure to ensure our sales network stays aligned with our strategy as it changes.”
Read the full case study to see why Groupama has been using the beqom solution for over 10 years to drive insurance sales through flexible incentive management.
