Guide • Commission reports
Reports and commissions for insurance brokers: how to organise them
Manual calculation of broker commissions is a major source of errors and conflicts. An organised system keeps the commission on each policy and adds it up in aggregate reports, for clearer settlements without separate spreadsheets.
How commissions are kept under control (steps)
- Filling in the commission on each policy: at issuance, the commission percentage or amount is entered.
- Issued policy: it appears in the portfolio, with its commission filled in.
- Renewal: at renewal, the commission is checked and filled in for the new period.
- Client link: the policy and its commission stay linked to the client record in the CRM.
- Settlement report: an aggregate report for the period, for discussion with insurers.
Types of reports for insurance brokers
- Portfolio report: number of active policies, total premiums, distribution by product and insurer.
- Commission report: total commissions for the period, from the commission fields of the policies.
- Renewal report: expired vs. renewed policies, retention rate and portfolio losses.
- Claims report: open vs. resolved files, average resolution time, compensation amounts.