An agency management system with robust commission tools can help you save time and money.
Commissions processing for life and health insurance agencies can be tedious and time-consuming. The most significant factors that contribute to the extra time spent on commissions are:
- Repeated manual entry of large commission statements due to lack of import capabilities
- Inefficient means to track split payments between recipients
- Inability to easily find and reconcile inaccurate carrier payments
In AgencyBloc, commissions are linked to policies, individuals, and agents for a comprehensive view of everything to improve your tracking and management capabilities. This helps you work smarter and be more productive since everything is located in one easy-to-track place.
AgencyBloc’s best-in-class Commission Module is built to help you efficiently process, track, and manage your commissions. Using carrier-specific mapping, carrier commission statements can quickly be imported into AgencyBloc.
From there, the commissions are linked appropriately for streamlined tracking, reporting, and analysis. This process alone has saved agencies hundreds of hours and thousands of dollars.
“We've been able to cut our time processing commissions by 75%, saved nearly $33,000 every year in employee time, and have gained 90 hours back every month. Switching to AgencyBloc was the best decision I made as a commissions manager.”
—Leslye G., JTS Financial
Read the Full Case Study
Within each of the six steps to processing commissions with AgencyBloc, agencies find efficiencies. AgencyBloc clients have reported:
- Cutting time spent on commissions processing by 75-95%
- Uncovering 100% of their missed commission payments
- Spending only 1-2 hours a month on importing commission data (down from 1-2 days)
Having an efficient way to process commissions helps commission managers and analysts spend less time processing and more time guiding the agency down the right path.