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Commissions at Producer and Product Level
As an insurance carrier, your organization uses commissions to incentivize your agents to grow your business. Now you have the flexibility to set up a variety of commission calculations that apply to individual agents and products in different time periods. And agents can easily see how much they're earning as they issue quotes and close deals.
Why: Some carriers calculate commissions differently for auto, home, and commercial insurance products. Others use unique commission schedules to reward or motivate individual agents. Whichever methods you prefer, we’ve got you covered.
How: Here's an overview of the workflow.
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Set up commission calculations and schedules. You can keep it simple with flat amount and fixed rate calculations. Or you can set up flat and tiered rate matrices, calculation procedures, and integration procedures.
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Assign commission schedules to producers and products. For each producer and product, you get to choose which calculations apply and which events trigger a calculation, from quotes to sales, renewals to cancellations.
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Let integrated services crunch the numbers. As agents do business, services calculate and save commission data to quote, policy, and producer objects, giving you insight into the commissions associated with each stage of the customer journey.
