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GullySystem

Commission Statements for General Insurance Agencies

An agent is paid by each insurer at a different rate and on a different date. This module matches each statement to the policies sold and lists what was paid short or not at all.

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From rate to statement

Commission starts as a rate by insurer, product and line of cover. It ends as a statement. The two are compared policy by policy.

Rate table

The agreed rate for each insurer and product, with the dates it applies from, written the way the agency’s agreement reads.

Commission due

Each policy on the register gets a commission figure from the rate that applied on its start date.

Statement entry

The insurer’s statement is keyed in or imported, with the date it was paid and the bank reference.

Matching

Each line of the statement is matched to a policy. Lines that do not match are held in a separate list for a call to the insurer.

Short and unpaid

Policies where the amount paid differs from commission due, and policies absent from the statement, are listed for follow-up.

Who uses it

The owner reads commission due against received, by insurer. Gaps show at once. The accountant uses the matched statements for the books. Servicing staff chase an insurer’s accounts desk with a list of policies, not a general complaint.

Where the figures come from

Commission figures follow the policy register and the rate table. A wrong premium or a missed endorsement on a policy therefore shows up as a difference at matching time. Clearing it means correcting the policy entry. Otherwise a query goes to the insurer.

What the client decides

The software applies the rates the agency enters. It does not state what an insurer should pay, and it takes no view on tax deducted or on how commission is shown in the books. Those are matters for the agency’s agreement and its accountant.

FAQ

Frequently asked questions

Does it read insurer statements automatically?

Where an insurer sends a spreadsheet, the lines can be imported. Otherwise staff key them in. The format each insurer uses is reviewed during scoping.

Can rates change during the year?

Yes. A new rate is added with its start date, and policies that began earlier keep the rate that applied to them.

Does it handle sub-agent or POSP payouts?

It can, if the agency pays others a share. The split is set with you, and the payout is shown beside the policy it came from.

What if an insurer never pays a policy?

The policy stays on the unpaid list with its date, so the agency has a record to take to the insurer.

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