The 5 Essential Features of Insurance Commission Software

Posted: January 18, 2022 - By: The Comissio Team - insurance software, Insurance Commissions, Insurance Commission Software Features


Lately, you’ve been looking at insurance commission software solutions, but you still haven’t found the right one. 


Because you understand that not all solutions are the same, and you are looking to invest in purpose-built insurance commission software with the key features needed to realize the benefits you hope to achieve for your agency.

Must-Have Features of Insurance Commission Software

To help your agency make the best choice, here are five must-have features the right insurance commission platform will include:

1. Plug-and-Play Simplicity

The last thing you want is to invest in a new software solution thinking it is going to solve all your problems, only to find out the hard way that implementing the technology will take weeks or even months.

That being the case, it is critical that you look for solutions that deliver plug-and-play simplicity. That way, your agency will see immediate ROI and productivity gains from your investment.

2. Ability to Support Multiple Products

Scaling your business to sell policies from more carriers or different lines of insurance can be daunting if you are struggling to keep up with your current commission runs. 

For example, if you are already selling health insurance to people under 65 and want to add Medicare to the mix, the commission calculations, hierarchies, and carriers will be entirely different.

When it comes down to it, you want an insurance commission solution that can keep pace with your business and scale alongside you. To this end, look for a platform that enables you to support multiple products and quickly add new ones when you decide to expand your business into a new market.

3. Ability to Rapidly Process Chargebacks

In the world of insurance commissions, chargebacks come with the territory. Unfortunately, processing adjustments and chargebacks is a nightmare if you are using   a tool that wasn’t specifically built for insurance businesses—or worse yet, by hand.

To increase the chances that you end up with a solution that helps your agency soar to new heights, make sure to look for a platform that enables you to rapidly process insurance commission chargebacks so they don’t eat up your entire day.

4. Fast Commission Calculations

Right now, your commissions calculations are reactive. As such, processing commissions take longer, and end-of-month reporting can be delayed. Not only does this impact your business intelligence, but it can also result in cash flow issues because you lack real-time visibility into your finances.

5. Ability to Keep Hierarchies Organized

As many insurance agencies know, it can be seemingly impossible to keep hierarchies organized—particularly when you’re dealing with multiple agents, insurance products, and carriers.

Look for a solution that is built specifically to help agencies like yours accurately pay out all levels of hierarchies, no matter how convoluted they may be. The perfect platform will enable you to take your mind off of hierarchies altogether, giving you more time to focus on delighting your existing clients and selling insurance to new ones.

Comissio: The Easiest Way to Access All of These Features

As one of the leading insurance commission solutions on the market, Comissio's SaaS solution comes standard with all of these features—and so many more!

For more information on why Comissio is the ideal solution for insurance agencies like yours, take a look at our Vendor Comparison Guide to see what sets us apart from the pack. Better yet, click the button below to contact us today and schedule a demo to see Comissio in action.

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