Identify missed commissions with an agency management system designed specifically for life and health insurance agencies.
AgencyBloc’s robust Commission Module helps you protect your agency’s bottom line by ensuring you’re receiving all you are due from the carriers. Use the Commission Module to track incoming payments, compare them to expected payments, and rectify inaccuracies. Once you’ve identified what’s been missed, take that information to your carriers for resolution.
Missed carrier commission payments often happen in one of two ways:
- Carriers are 2-3 months behind on their payments, so it’ll appear as a missing payment. Monitor payments closely to know if there’s a problem.
- A client cancels their policy and doesn’t notify your agency; this, too, will appear as a missing payment from the carrier.
"We have been able to recover over $69,000 in missing compensation with AgencyBloc. Before, I had to enter all of our compensation data manually; now, I can import that information in an hour or two."
—Becca D., United Producers Group
Reconcile Missing Commissions
To reconcile an inaccurate commission payment, agencies need five HIPAA-specific pieces of data. Run a Missed Commission Report in AgencyBloc to identify all of the policies in which payments were incorrect. Then, use that same report to resolve those inaccuracies with the carriers.
AgencyBloc’s Missed Commission Report is built with your needs in mind. All of the necessary information you need for resolution is present in the report. Agencies have used this report to recover thousands of dollars in missing or inaccurate commission payments.
Monitoring Commission Payments
Use Dashboard Analytics to monitor your commissions from a high-level view. Monitor graphs showing actual versus expected payments to know when inaccuracies are happening and give you cause to dig deeper. Track this information by month or year-over-year to get an income comparison that aids in your decision-making. Use this information to decide when to grow your staff, diversify your offerings, and move into new geographical locations.