Insurance Medicare Industry Sales Commission


Overview

QCommission enables you to quickly calculate commission, verify results and distribute this information to your agencies, agents, brokers and staff. You can present the commission information in such a way that the sales people clearly understand what they are being paid and why they are being paid at a very detailed level. Excel and manual calculations can introduce a lot of errors into your calculations and cause your sales people to lose trust in you. QCommission can help avoid that by calculating all commissions systematically and reliably.

Calculate Accurately with Flexible Rules
QCommission provides a lot of flexibility to set up commission plans that are unique to your company and your staff.

  • Capture Medicare applications data including Medicare #, during Annual Enrollment Period and other times
  • Batch and submit applications to carriers daily
  • Provide daily report to agents of submitted applications
  • Convert carrier approved applications into policies
  • Import incoming commissions from carrier files
  • Pay commissions on New policies written
  • Pay commissions against policy renewals
  • Pay commissions against premiums
  • Process multiple carrier files
  • Pay Agents, General Agents, Captive Agents, Brokers and internal staff
  • Split commissions with payees
  • Split commissions between multiple payees for a policy
  • Vary commissions by carrier, type of insurance product such as Medicare Advantage, etc
  • Pay flat amount per application
  • Pay flat amount for approved policy. Pay different amount by year of renewal
  • Pay additional commission for first year Medicare member
  • Deduct various fees such as processing fees
  • Deduct commissions for Rapid Disenrollment
  • Pay weekly, bi-weekly, twice-monthly, monthly
  • Pay overrides to sales managers.

Import/Export 
QCommission is designed to integrate with QuickBooks®, Salesforce.com, Sage Peachtree, MS Dynamics GP, MS Dynamics Axapta and many others. QCommission can also accept Excel, fixed file and delimited format files. QCommission can also process some PDF format files. QCommission can also operate stand-alone.

  • Import data from accounting system including Invoices, Expenses, Payees, Customers and Products.
  • Import from Carrier data from Excel, PDF and fixed or text-delimited files.
  • Ability to automatically download multiple insurance carrier files and process them.
  • Ability to process commissions for the same agent with multiple carriers having different agent codes and combine the data.
  • Ability to validate and reprocess the insurance carrier files coming in.
  • Restrict Transaction import using a date range.
  • Export Commissions payouts for accounts payable and payroll.
  • Export data to Excel, and fixed or text-delimited file formats.

Reporting
QCommission stores all data entered and all payout calculations.

  • Produce Carrier applications batch report.
  • Produce Daily applications submitted report by agent.
  • Produce detailed commission statements by payee.
  • Reproduce commission statements for prior periods.
  • Report on split credits and uncredited transactions.
  • Analyze historical transaction and payment information.
  • Email commission statements to payees.
  • View commission statements through the web.

Case Study

QCommission Automates Commissions for Insurance Agency

About 1-800-NewHealth

Health Plans of North Carolina (aka 1-800 New Health) is an independent authorized agency licensed to sell and promote products from Blue Cross and Blue Shield of North Carolina (BCBSNC). HPNC is a trusted online source for researching, comparing and purchasing individual and family health insurance. HPNC was started by two brothers, Blair and Scott Ashcraft, as a new consumer tool to help people know their choices and navigate through the decision making process of buying the right health insurance protection.

BCBSNC sends an electronic file containing sales information for the previous month. Knowing that the Agent's confidence in a system that is 100% reliable and transparent is absolutely vital and a primary function of being an Agency. "to make sure the Agents are paid correctly is everything" says Scott Ashcraft.

Their commission plan is a complicated matrix of Annualized and Non Annualized split between the Agent, the Agency and sometimes a Sub Agent. The Agency is paid Annualized but pays commissions as "As Earned". The Agency saves the annualized commission and pays out over a period of 12 months. Calculation of the commissions in Excel was easy until it was time to calculate the Annualized portion. This was beyond the scope of Excel.

Scott was looking for a solution that would handle this complex calculation and save him time, effort and most importantly, 100% reliable. After a comprehensive search, he found QCommission. During the initial discussion, it was very clear to him that his problem could be solved by QCommission.

The QCommission implementation team engaged with Scott to setup the system. They were able to import the file he received from BCBS directly to QCommission and setup necessary rules to calculate commissions. The data import was achieved using the QXChange data integration tool which is included in the QCommission package. Scott was able to verify the accuracy of all calculations and after training he was able to complete the commission calculation within minutes.

Now Scott's effort to calculate commission takes less than half an hour a month. Commissions are accurate and predictable and the agents are happy with the detailed commission statements they receive every month. "Looking back, I am very happy I chose QCommission to solve my commission needs" said Scott.