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Create Commission Schedules
Commission schedules define commission calculations and effective dates. You can create a bunch of commission schedules and have different ones in effect for different producers and insurance products, at different times.
Before You Begin
You get to choose which objects can use a commission schedule, for example Quote, InsurancePolicy, Contract, and Producer objects.
- From the App Launcher, find and select Commission Schedules.
- Click New.
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Enter these values.
Name of the schedule.
Description.
Select this check box to make the commission schedule available to use.
The beginning of the date range for this schedule.
The end of the date range for this schedule.
How to calculate the commission. You can use a Decision Matrix, Expression Set, Calculation Matrix, Calculation Procedure, Integration Procedure, a flat Amount, or a Rate.
Note If you're new to Insurance in Summer '23 or later and are using the Business Rule Engine (BRE) license, use Expression Set and Decision Matrix instead of Calculation Procedure and Calculation Matrix.Calculation Process Name
The name of the calculation process to reference for the Decision Matrix, Expression Set, Calculation Matrix, Calculation Procedure, and Integration Procedure types.
An amount for the Amount type.
Commission Rate
A percentage for the Rate type.
Flat or Tiered for the Decision Matrix and Calculation Matrix types.
The objects that can be assigned this commission schedule (for example, Quote, InsurancePolicy, Contract, Producer).
Calculation Process Input Mapping
A field value to use as input for the commission calculation for the Decision Matrix, Expression Set, Calculation Matrix, Calculation Procedure, and Integration Procedure types.
To edit input mappings after you save a commission schedule, click Add New to add a new field value, or click the trash icon to delete an existing one.
Calculation Process Output
A field value and formula to apply to the commission calculation output for the Decision Matrix, Expression Set, Calculation Matrix, Calculation Procedure, and Integration Procedure types.
To edit process output after you save a commission schedule, click Add New to add a new field value and formula, or click the trash icon to delete an existing field and formula.
- Click Save.
