Commission Management Services
Insurance Commission Management Services
Our experts work closely with you to develop streamlined, effective processes that meet your unique needs. Our goal is to help you unlock value through the adoption of industry best practices without disrupting your corporate culture.
eNoah offers a full suite of Insurance Commission Management Services, including:
- Commission Build-Out & Reconciliation: Our experts set up configurations that ensure accurate reporting through Agency Integrator, Smart Office, or One HQ.
- Commission Support Services
- Commission Reporting
Our experts set up agency hierarchies, schedules, carrier and product information, and other configurations to ensure that we generate accurate reporting through Agency Integrator, Smart Office, or One HQ. We also help maintain the module with updates and troubleshooting. Whenever there are new products, we can configure and maintain them to keep your operations running smoothly. We provide reconciliation reporting weekly, monthly, and ad-hoc according to your needs.
We deliver:
- Accurate payments and statements to your agents, sales VPs, and sub-BGAs
- Accurate accounting of commissions due to your BGA
- Building and maintenance of AI, SO, HQ, and other commission modules
- Concise commission statements
Case Management Services
Commission Management Services
Medical Records Summarization
Medical Records Retrieval
Licensing and Contracting
Insurance Illustration Support
Policy Owner Services
Inforce Policy ServiceseNoah Addresses Industry Challenges
Statement Archiving
Scrubbing/Data Cleansing
Process Automation
CRM Management
Dashboard/Reporting
Familiarity with Latest Software Tools and Methods
Commission Management Services – Process Flow
1. Data Gathering
- List of carriers from which the statements need to be downloaded & their login credentials
- List of all the agency codes required to download the statements from the carrier website
- Mail IDs of all points of contact on the carrier side, from whom the statements will be received
- Grids like Carrier Master, IMO Master, and Agent Level grid should be in place to calculate the exact compensation
- Mode in which the statements will be received (Carrier website, Office 365, FTP, ShareFile/Dropbox)
2. Statement Management & Compiling
- eNoah extracts the statements through required channels, including all agent/agency codes provided
- Statements are converted into client’s preferred format
- Policy details from all carriers can be consolidated into a single sheet to create the commissions summary (as per client need)
- Based on the Master Grid (Carrier/IMO) received, the compensation is calculated based on the carrier, product, type, and the commission level for each agent/agency
- First year compensation, renewals, and overrides are determined and labeled as such
3. CRM/Template Handling
- We can mirror your existing accounting functions and assist with finding identifying the existing system/template’s inefficiencies
- Build a consolidated database consisting of the latest agent details, payment transactions, calculation slabs, sales records, etc. and generate periodic reports
- Help you maintain your commission’s management system by transforming hard copy documents with large data sets into proper digital format
4. Commission Reporting & Status Update
- Daily status update reports can be provided
- Process steps will be added or modified as per client need
- Full process workflow documentation is provided once process implementation and piloting is complete
- Exception report
Why Outsource Commission Management to eNoah?
eNoah’s commission management services leverage eDS Automation tool and EETL Methodology.
eDS Tool Process Flow
- Statements downloaded from Carrier Website (Raw Dump)
- eDS Processing
- Cleansed data that best suits client needs
Commission Accounting & Reporting
eNoah has specifically developed a commission accounting system to support the hierarchies and workflow of an IMO, coupled with resources to set up commission schedules and hierarchies.
eNoah’s Unique Value Propositions
Quick Turnaround Time
Cost Reduction
Quality Assurance
Timely Compensation Payouts
Improved Process Efficiency
Insurance Commission Management Customer Success Stories
eNoah Saves You Time & $$$! An Extension of Your Team
Accreditation / Certifications
eNoah is here to help during this time of crisis.
We have remodeled our IT and back office operations keeping the safety of our employees and security of your data in mind. Set your corona worries aside and bank on us to keep your processes up and running at all times.
