Commission Management Services - Build-Out, Reconciliation & Support

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

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Other Key Services Include

Case Management Services

Medical Records Retrieval

Medical Records Summarization

Insurance Illustration Support

Policy Owner Services

Inforce Policy Services

Commission Build-Out & Reconciliation

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.

Commission Support Services

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

eNoah Addresses Industry Challenges

Statement Archiving

Scrubbing/Data Cleansing

Process Automation

CRM Management

Dashboard/Reporting

Familiarity with Latest Software Tools and Methods

eNoah’s case workers are qualified, highly trained professionals familiar with carrier and vendor portals and cognizant with the use of common industry applications and tools, including:

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Commission Management Services – Process Flow

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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.

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Industry Pain Points/Concerns

Carrier doesn’t provide access to integrate their website with other third-party applications
Data extracted from carrier website needs to be cleansed/scrubbed before it can be updated into the CRM/SO/AI/Excel Dashboard
Data format differs from carrier to carrier (PDF, .Xls, CSV, .TXT)
Time-consuming for users to do the math and conditional formatting for manual Excel scrubbing
Agents have their own sets of instructions that need to be followed before payouts are approved

EETL Methodology

We follow the Explore-Extraction-Transformation-Loading (EETL) methodology to manually process data. EETL is done by specialized tools that extract data from various database sources before cleaning it and transforming it to be stored in the client’s database.

eDS Data Scrubbing Tool

The commissions team uploads statements that need to be scrubbed to this app. The output extracted from the tool is uploaded into the in-house or external CRM.

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.