How to Simplify Your Commissions Processing Solution

By Mike Ivory on April 13, 2017 in Commissions Processing

How to Simplify Your Commissions Processing Solution

Processing, tracking, and paying out commissions is a major part of an insurance agency. Many agencies have dedicated staff members who are responsible for this one component of the business. In many cases, these staff members spend hours or even days processing commissions each month. The reason they are spending so much time is because it is such a complex process that requires 100% accuracy.

Here at AgencyBloc, we’ve seen agencies attempting to use paper and pencil, extremely complicated spreadsheets, generic software products, and even “homegrown” systems to process and track their commissions. Each one of these solutions eventually becomes inefficient and unreliable or, worse yet, prevents agency growth.

One of our core principles is as follows: We Make the Convoluted, Straightforward

To say that some of the commissions processing solutions we’ve seen are convoluted would be a big understatement. It’s at the core of our business to make this process (among many others) as straightforward as possible. One of the ways we do that is by specializing only in the life and health insurance industry. We focus on providing solutions to our clients needs so that they can focus on nurturing their client relationships and gaining new business rather than spending time configuring a cookie-cutter CRM.

So how does AgencyBloc actually make commissions processing simpler?

AgencyBloc Commissions Processing

One of the biggest reasons agencies are so successful and efficient at processing commissions in AgencyBloc is because of the understanding our client success team has for their needs. The account setup process prepares your agency for long-term success. This includes setting up the account to process and track commissions exactly the way you need. Once this happens, the on-going process of actually processing commissions is a three step process:

1.) Import carrier files

One of the most appreciated aspect of our system is Carrier Imports. If your agency is receiving electronic commission statements, we can build import maps for directly importing that information into AgencyBloc each time you receive a statement. A lot of times we've already built a map for the carriers you're working with.

2.) Calculate/reconcile commissions

When commissions are imported, you'll see which policies were linked to the carrier's statement, each payment that was calculated and any policies that didn't match. From there you can quickly correct any issues and add new policies if needed.

3.) Generate commissions statements

Once all your carrier commissions are reconciled for the payment period, you're ready to generate commission statements.  Statements can be run in spreadsheet or PDF format. These statements can then be sent to your in-house or downline agents and/or sub agencies along with their payment.

Additional Benefits

Once you've processed some statements in AgencyBloc you will be able to take advantage of two additional features that will save your agency money and allow you to make informed decisions.

Uncover Missed Commission Payments

1.) Commission Not Received Report 1: by Statement Date

Easily see how much commission you received from your carriers each month. The Commissions Not Received report will identify policies that you were expecting to receive commission on but didn't. Get paid everything you deserve.

2.) Commission Not Received Report 2: by Bill From Date

Quickly identify any policy that did not have a payment credited in the respective Bill From Date (Premium Due-Date).

Actual vs Projected Commissions

Actual vs Projected Commissions

The "Actual vs. Projected" feature in AgencyBloc presents a comparison of actual against expected commissions and shines a light on policies that should be reviewed, making it easier for you to identify commission inaccuracies. Additionally you will also be able to project revenues for current and next year, giving you strong data to use in business planning.


Taking the steps to simplify your commissions processing procedures can make a big difference in the efficiency of your agency. The eBook below goes into more detail about commissions processing to get you started on the right track.

Guide to Commissions Processing

[Free eBook] The Insurance Agency's Guide to Commissions Processing

Learn how insurance agencies are currently processing commissions, how to find missed commissions & why your agency should be projecting commissions.

Download the eBook

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  3. technology
Mike Ivory
Mike Ivory

Mike is the Marketing & Sales Operations Specialist at AgencyBloc. He manages all technology for sales & marketing operations and analyzes results to maximize our success. Favorite quote: "You miss 100% of the shots you don't take - Wayne Gretzky" - Michael Scott More articles

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