Direct Bill Commission Management includes downloading the commission transactions from carriers in AL3 format (through IVANS for example), converting AL3 to JSON/XML, parsing JSON/XML to read each transaction, and posting the commission amounts into the AMS/CRM under the corresponding policy. The other major part is Direct Bill Commission Reconciliation which means highlighting significant differences between Expected Commission and Actual Commission, providing a way to the zero-diff insignificant difference in figures, and also providing a way to match the unmatched policy commission transactions (if there is no match on the basis of policy number or insured name for example). The unmatched commission transaction records can be displayed on the screen with all the details like Billing company (Carrier), Commission percentage, Commission amount, Premium, Policy number, LOB code, Transaction code, Effective date, etc. Agency Users can edit data on this screen and link to the corresponding policy in the system after which.
We have extensive experience in commission management. Write to us today at our development email id email@example.com for the development of a commission management feature for your agency or insurance agency management system