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Insurance Brokerage
Streamline operations and deliver personalized experiences through a unified platform for all Insurance Brokerage lines of business.
Required Editions
| Available in: Lightning Expereince |
| Available in: Professional, Enterprise, and Unlimited Editions where Financial Service Cloud and Insurance Brokerage are enabled |
- Brokerage Entity Relationship Diagram
Entities and relationships for policies, coverages, benefits, eligibility, rates, contributions, producer splits and commissions that are structured to streamline operations and deliver personalized experiences for Insurance Brokerage lines of business. - Set Up Brokerage
Manage the setup and system configurations for Policy Management and Commissions Management to suit your business requirements. - Policy Management in Insurance Brokerage
Rate plans, define benefit eligibility, set up contribution plans, and manage plan benefits. - Commissions Management in Insurance Brokerage
Manage producer splits and commission statements. - Policy Lifecycle Processes
Insurance Brokers manually maintain their own data to mirror what's in the carrier system due to lack of integration between the carrier and the broker systems. This manual process can be cumbersome, especially when there's very little difference between an existing Insurance Policy in their system and the new one they are trying to create. The policy lifecycle processes help representatives manage policies efficiently with minimal data entry by providing actions to renew, endorse, repurpose, and cancel policy. - Considerations and Limitations in Insurance Brokerage
Here are some considerations and limitations to keep in mind about Brokerage features. - Agency Billing
Manage the end-to-end agency billing workflow with greater accuracy, automation, and financial control. Bring a unified, streamlined experience across policy lifecycle management, transaction generation, billing, payments, ledger, transaction journals, and collections. - Billing Considerations for Insurance Brokerage
Use of Insurance Brokerage impacts the consumption of credits used for billing in these usage types.
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