How to Streamline Your Commissions Processing

Transcript

1. How to streamline your commissions processing Presented by:
2. My Name is Adam Lewis I am one of the co-founders of AgencyBloc. AgencyBloc helps life and health insurance agencies grow their business by organizing and automating their operations using a combination of an industry- specific CRM, commissions processing, and integrated marketing automation. Follow us at @agencybloc and on Facebook & LinkedIn. Hello! 9/30/2015 |
3. Our Expertise We’ve solved real problems for our clients.
4. “ AgencyBloc has made our office more efficient and has saved us time and money. Within the first year we recovered over $20,000 in unpaid commissions! Ellen Comprehensive Financial, Inc. 9/30/2015 |
5. “ AgencyBloc has saved me 80 hours in manual calculations for commissions and I would absolutely recommend them for all your commission needs. Loanna MGM Benefits Group 9/30/2015 |
6. “ This program has saved us hours and hours; I would recommend it to anyone wanting to be more efficient with their commission accounting and client tracking. Raeann Insurance Annex 9/30/2015 |
7. So, how does it work? Our commissions processing requires 6 steps: 3 to initially set it up, and the last 3 steps are to process the commissions.
8. Steps 1-3: Set up commissions 1: Setup Policies This can be done either via our import process or manually. AgencyBloc fully supports both individual and group business. 2: Setup Rate Tables Rate tables can reflect percent of premium, percent of commission, per life, or as a flat amount. They can also specify payouts based on carrier, coverage type, or even plan code. 3: Tie Payees to Policies Payees need to be assigned to policies so we can calculate commissions payable when reconciling carrier commissions. 9/30/2015 |
9. Example rate table Remember, rate tables can be set up based on percent of premium, percent of commission, per life, or as a flat amount. 9/30/2015 |
10. Steps 4-6: Process commissions 4: Import carrier file 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. 5: 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. 6: 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. 9/30/2015 |
11. Uncover Missed Commission Payments
12. 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. 9/30/2015 |
13. 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). 9/30/2015 |
14. Our mission is to provide powerful solutions by making the convoluted, straightforward. We want our technology to transform the organizations that use it.
15. Any questions ? You can find us at ◉ www.agencybloc.com ◉ @agencybloc ◉ info@agencybloc.com Thanks! 9/30/2015 |
16. See how this could work for your agency: Go to www.agencybloc.com to schedule a live, one-on- one demo of AgencyBloc.