Commission rules allow NowCerts to calculate agency commissions automatically. Before the system can achieve that, different variations on how the agency gets paid must be entered. This is due to the fact that agency commissions can vary depending on the carrier, MGA, and lines of business. To specify these rules, follow these steps:
1. From your agency menu, click on "Profile" (Agency Profile). Once the "Profile" page loads, click on the "Commission Rules" tab
2. Next to "Commission Rules," click on "Add new"
3. The more specific a rule is, the higher priority it takes. Therefore, start with more specific rules and end with more general ones to catch the remaining policies.
For example, the system will look for rules that have specific Carriers and apply the commission for that rule before using a rule containing "[Any Carrier]." The same goes for "MGA" and "Line of Business."
As for the commission itself, you can set a rule to calculate commission for "New Business" by a percentage or a set amount. The same applies for "Renewal" business.
For both "New Business" and "Renewal," you can click on the "Corporate Comm" check box if you pay a percentage of your commissions to a cluster or a corporate office (these are sometimes referred to as "royalties").
4. Once you are finished, click on "Save"
5. Repeat steps 2-4 as many times as you need
Here is an example of an agency commission structure:
If you prefer a video:
Go to Step 7: Set Up Agent Commission Rules