Insurance Commission Management Made Easy - man smiling holding folder and phone by pexels-ketut-subiyanto-4559680

Commission management is a crucial part of the day-to-day activities of your insurance agency. It is the part of your business that needs as much transparency as your communication and dealings with customers. But, as you also know, managing commissions is not always easy. That is mainly because the commission structure doesn’t look the same as other sales commission structures.

Fortunately, you can use the JenesisNow Commission Manager feature to simplify and automate the commission management process.

Why Your Agency Needs the JenesisNow Commission Manager

Your agents work hard to earn their commissions. If they experience payment delays or don’t receive correct payments, it can cause frustration. If these issues continue, they may even start looking for employment elsewhere. The manual and traditional methods of calculating commissions are risky because of human error and potential inconsistencies.

Not only can manual calculations be incorrect, but it can lead to compliance issues. For instance, if you make a mistake with your agents’ commissions, it may break a carrier-specific rule. This could lead to fines and penalties and even unhappier agents.

Moreover, incorrect commission statements are one of the fastest ways to break down your relationship with your agents. It may come across as dishonesty if you continuously make mistakes with their commission sheets.

You can prevent these issues with the help of JenesisNow’s Commission Manager. This feature will help you set up commission percentages for each user and commission percentages from companies. You can automate and track commissions using downloads and even generate commission reports.

How the Commission Manager Can Help Your Agents

Your agency revolves around data. This includes employee and customer data. The commission manager will help you streamline one of your most important data types. Also, because it forms part of the overall JenesisNow insurance management system, your agents can track their commissions on a central platform.

Furthermore, having an overview of commissions will allow your agents to see when and how they acquired the most clients. This will motivate them to replicate that success, which is good for business and your agents’ pockets.

Because commissions fluctuate, you must keep track of cancellations and late payments. The commission manager can help your agents do that. You can effectively improve your cash flow while retaining more customers.

The commission manager will save your agents time as well. They will no longer have to spend hours calculating commissions using a spreadsheet. The system does it for them automatically. This incredible benefit gives your team more time to focus on growing your agency’s customer base and reaching their targets.

Benefits of Automated Commission Tracking

Yes, there are even more benefits to automated commission tracking. In addition to eliminating manual errors and ensuring correct payments, you can integrate the commission manager with other data sources. You can use it in conjunction with the software you already have. These systems include carrier portals and CRM systems.

On top of detailed commission reporting, you get an eye-opening overview of individual agent performance. This is valuable data, especially during performance reviews.

Automated commission calculations will help you comply with the relevant rules and regulations. It will also improve the relationship between your agency and team. If your agents see that you are committed to paying them their due, it will encourage them to perform better. At the same time, you are also freeing them to focus on customer relationship building.

It goes without saying that you want your agency to grow in the long term. The scalability of the commission manager makes this possible. It is a flexible and adaptable feature that will grow with your business.

Commission Management Impacts Different Stakeholders

Commission management benefits more than just your agency. For example, effective commission tracking reduces administrative carrier costs. It also improves data accuracy in general.

Your agents will receive their payments faster, and they can access the reports that track their performance. This gives them greater control over their development.

Choose JenesisNow’s Commission Manager

With the commission manager, you can set your agency’s unique percentages. And you can do so for users and companies. When you have entered these percentages, the system will automatically continue to calculate each agent’s commissions with impressive accuracy. The commissions come in through downloads, which means the tracking part is accessible to your entire team.

You can generate the reports you need for bookkeeping purposes, keeping track of your profits. You can also integrate the system with your existing software without needing a comprehensive onboarding training session to use it. If you use JenesisNow with the commission manager, your team does not have to import any data because the system will automatically import it from the management system.

With Jenesis’s commission manager, you can effectively overhaul your agency’s commission tracking process. This will help you build stronger relationships with your agents and work towards the ongoing success of your business. Commission tracking and payments no longer have to be complicated. Instead, you can transform the process into a dynamic one that continues to push your agency forward.