In the insurance industry, commissions are basically the lifeblood of any company, and specifically so for any agents whose existence relies entirely on receiving various commissions packages for their services rendered. Even a small level start-up insurance company can easily get bogged down when dealing with commissions. Tracking them, calculating them, making sure they're paid on time and to the right people for the right jobs – it can all get very complicated. Now, imagine you're a mid-size or a big-time player in the insurance field; commissions may be running you ragged. This is where a solid insurance agency management system pays off.
The
Now Certs system wasn't designed only to be a sleek, streamlined and sophisticated content-management system; we took into account the specific problem of commissions, and we worked hard to ensure that the commissions processes are greatly simplified through the agency management system.
How Now Certs Makes Commissions Uncomplicated
Easy Tracking
When tracking commissions the old-fashioned way or even using cut-rate content-management systems, it is incredibly easy to get commissions mixed up. You have to understand that a commission doesn't need to go to the wrong person or skip the right person to be mixed up; simply being a few hours late can cause a system pile-up, much like the lead-pin car on the highway that crashes. Everything subsequent runs into the rear bumper of the front vehicle. The same with commissions; if you manage to miss track just one commission for a short amount of time, the pile-up will thus ensure. The agency management system eliminates this risk by keeping a constant flow via instantaneously filing and processing and cataloging all commissions from all parties involved.
Easy Calculation
It probably goes without saying that anyone involved in the insurance business can calculate X percentage of Y total. And even to the extent a human may get bogged down with math, calculators are never incorrect. However, human input errors happen all the time, not to mention the fact that even a mathematician cannot stay accurate and speedy when dealing with piles of commissions to be paid out. The agency management system streamlines this process by automatically calculating every single commission in the pile, getting it 100% right 100% of the time, thus allowing you to run an error-free business in calculations.
Multiple Commissions
Let's say that you're an absolutely fantastic manager in your own right. You're great at tracking. You're incredible at math and manually handling accurate calculations. You can even keep up with a steady work-flow without falling behind. But what if you're dealing with more than one line of commissions? This is automatically at least double the amount of work and thus double the risk of falling behind, misplacing a decimal point, etc. Any of these small errors can cause big damage. With the agency management system, the Commissions feature handles all commissions types from both personal and commercial lines.
Automated Accounting
You undoubtedly already understand the complex procedures involved with commissions. Not only do you have to track your agents, calculate their commissions, pay them off on time, along with keeping an eye on their insureds and ultimately filing everything away neatly and cleanly for tax implications and personal business records, but that's just the starting point. In other words, the commissions aspect of your insurance business alone is like a business all itself. This is why full automation of the process stands out as such a solid benefit. A fully automated commissions process means you get to do actual work beyond the tedium and focus more on growing your company.
With the agency management system, each aspect of your insurance business has its own special, unique feature that will help you automate and streamline the process. Commissions are tricky and are perhaps one of the most vital parts of your company. Let
Now Certs help you stay a step ahead at all times in this category.
