Edit and manage your Carriers, LOB's and Carrier Commissions in Better Agency
Carrier Commissions is where you setup the Carriers and Lines of Business (LOB's) you write, and specify the commission you receive from those carriers for each LOB (new business and renewals). This allows you to track expected agency commissions.
For information on Commissions by Better Agency, available exclusively in our AMS subscription plans, click here. Commissions by Better Agency integrates with IVANS to pull actual agency commission, from which your producer commission will be calculated.
The commission rates you setup in Carrier Commissions will feed into expected Revenue reporting in the following areas:
- Sales Reports
- Commission Report
- Project Renewals
- Rewrite Report
- Agency Reports
- Agency Health Report
- Cancellation Report
Setting up Carriers, LOB's, and Carrier Commissions
To access this feature, please click on the settings (your name) on the top right --> Then on "Edit Agency".
Once in the Edit Agency page, click Carrier Commissions tab.
By default, you will see some of the most common carriers, LOB's, as well as a Default percentage for New Policy and Renewal Policy.
These default commission percentages will apply to each LOB you add for each carrier, but can be overridden per entry. If you would like to change the defaults, click the pencil icon next to the default percentages and update them.
Click Add New Carrier to add each of your carriers.
For each carrier, click Add Line of Business to add the LOB's you write with that carrier.
You can leave the default percentages in place for each entry, or enter a different percentage.