Insurance Industry Sales Commission

Insurance Broker Agency Sample Plan

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Overview

QCommission enables you to quickly calculate commission, verify results and distribute this information to your agencies, agents, brokers and staff. You can present the commission information in such a way that the sales people clearly understand what they are being paid and why they are being paid at a very detailed level. Excel and manual calculations can introduce a lot of errors into your calculations and cause your sales people to lose trust in you. QCommission can help avoid that by calculating all commissions systematically and reliably.

Calculate Accurately with Flexible Rules

QCommission provides a lot of flexibility to set up commission plans that are unique to your company and your staff.

Import incoming commissions from carrier files
Pay commissions on New policies written
Pay commissions against policy renewals
Pay commissions against premiums.
Process multiple carrier files and credit sales people
Split commissions with payees
Split commissions between multiple payees for a policy
Provide override commissions to agencies
Provide override commissions to internal staff
Vary commissions by carrier, type of insurance product, year written, etc
Pay residual commissions forever
Pay different commission rates based on year of premium
Deduct various fees such as marketing and desk fees
Deduct commissions for cancelled polices
Pay weekly, bi-weekly, twice-monthly, monthly
Pay overrides to sales managers.
Pay draws or guaranteed payouts.

Import/ Export

QCommission is designed to integrate with QuickBooks®, Salesforce.com, Sage Peachtree MS Dynamics GP, MS Dynamics Axapta and many others. QCommission can also accept Excel, fixed file and delimited format files. QCommission can also process some PDF format files. QCommission can also operate stand-alone.

Import data from accounting system including Invoices, Expenses, Payees, Customers and Products.
Import from Carrier data from Excel, PDF and fixed or text-delimited files.
Ability to automatically download multiple insurance carrier files and process them.
Ability to process commissions for the same agent with multiple carriers having different agent codes and combine the data.
Ability to validate and reprocess the insurance carrier files coming in.
Restrict Transaction import using a date range.
Export Commissions payouts for accounts payable and payroll.
Export data to Excel, and fixed or text-delimited file formats.