Direct Bill Commission AL3 Downloads and Reconcile

Direct Bill Commission AL3 Downloads & Reconcile is a key module in any Agency Management System. Automating the download of commission AL3 files for direct billing policies from IVANS / Carriers, converting AL3 to JSON, updating commission transactions data into the AMS, cross-checking with the expected commission values, and highlighting significant differences for you to check and reconcile saves enormous time and effort.
Further on this, for implementing the Commission Accounting management in your system, our development team can automate the calculation of the Agency Commission on the basis of Carrier, LOB, or per policy basis, split into producer commission amounts (based on global or policy level settings for the producers), create payable entries for the producers and receivables from the Carriers & Customer as applicable.
We assist global InsurTech companies and Insurance Agencies in the automation of agency management features like Insurance Accounting, Policy Administration, Commission Downloads & Reconcile, ACORD forms, IVANS Policy downloads, Rater Integration, and CRM features (Leads, Opportunities, Quotes, Campaigns, and more).

Commission Management Feature Details

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 for the development of a commission management feature for your agency or insurance agency management system

Learn more about our Insurance Software Development Experience

Webner is trusted by renowned companies across the globe for our responsiveness, diligence, and technical expertise. Contact us today for Commission Downloads & Management features and other Insurance agency management system features by writing to us at our development email id or by filling the contact us form.

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