Overview

commission-Assyst is a fully functional commission system. You can use it stand-alone, in which case data entry facilities are provided to enable entry of clients (and partners), cases (policies, investments, liabilities i.e. mortgages and loans), and the payments that the client is making into those cases.

Where you also operate the client-Assyst database / back-office system, the above data entry facilities will rarely be needed as the commission-Assyst will automatically pick up the above data as it has been entered into client-Assyst.

commission-Assyst also allows the entry of commission expectations (due) amounts for each payment a client makes into a case. All types of commission are supported - indemnity, non-indemnity, renewal, trail, fees, claw backs, etc. Each client payment may trigger several types of commission, a typical example being indemnity / non-indemnity during the initial period, followed by a renewal commission stream starting at a later date.

Fees are also supported, for example proc fees, a one-off client fee for the advice, or a regular management fee for ongoing management of a clients financial affairs.

An adjustments facility records other miscellaneous amounts that may be received, or paid out to the parties involved in a case.

 

Commission Rules

You can define a series of commission rules to define what amounts of commission are due to various parties. The parties can be a consultant, introducer, or another consultant involved in the sale.

Rules can state that:-

• all consultants (or introducers) receive a percentage of the commission received by your company from the provider
• alternatively, you can define a specific amount. This might be appropriate where an introducer is paid, for example, £100 for each successful referral. You can define further rules where specific consultants or introducers receive a higher or lower percentage or amount than is normal
• additionally you define a similar rules for specific types of policies. For example, consultants may receive 50% of the commission for all business types except general insurance, where a lower percentage or a specific sum may be defined.

Commission Receipts

When you receive commission from a provider, commission-Assyst will display a list of all commission amounts that are due to allow you to 'tick' each one that you have received. You can tailor this display to show just due amounts for a particular provider, or for a specific date range.

Once you have 'ticked' the amounts you have received, commission-Assyst will ensure that the total of these matches the amount you have received from the provider. If there is a difference, you have the option of amending some of the due amounts where the provider has paid you a different amount for a case than you were expecting, or you can ask commission-Assyst to set up an adjustment to cater for the difference.

This last feature is invaluable for those of you who do not want to individually reconcile the potential multitude of small renewal amounts.

Receipt Example

Commission Distribution

Once you have receipted expected amounts, commission-Assyst allows you to distribute (pay) these amounts to the parties involved in the sale, e.g. the consultant, introducer, and other consultant. commission-Assyst will display all those amounts that are available for distribution. You can tailor this display to show just amounts for a particular party, or for a specific date range.

commission-Assyst creates a commission statement for each party, and shows all of the individual cases and amounts, that make up the total distribution payment.

Projections

commission-Assyst will report a projection of your income stream for any period into the future. This report can be tailored to show specific providers, consultants / introducers, types of business, types of commission or any combination.

Commission Reporting

A complete series of reports is available for commissions due, received, and distributed (paid out). You can tailor these reports to show specific providers, types of commissions, consultants / introducers, types of business, and date ranges, or combinations of these.

All reports are able to be exported into several formats including PDF files - to allow you to keep electronic images of your commissions reports - and also into Excel to allow you do further analysis, summarisation etc.

New Business Register

commission-Assyst will automatically create your new business register based upon clients and cases entered into client-Assyst and commission-Assyst. This register will show entries for all new business, including additional single premiums and increases / increments. As with all reports the Register can be tailored to show specific providers, consultants / introducers, types of business, date ranges, or combinations of these.

Security

You can define which of your users will be allowed access to the database and what they are allowed to do. For example, you can restrict advisers so that they can only see their own clients, or you can restrict certain users so that they can only view information i.e. they have no update rights.