Reqister/Log in

Commission Management System from SuranceBay

Automatically calculates commissions, tracks producer performance, and provides reporting features for insurance agencies to optimize their payment processes.

Is this your product?

More about SuranceBay

Product analysis by function

Commission Calculation Software for Distribution and Agency Management

Applications that automate the calculation, tracking, and payment of commissions to agents, brokers, and other distribution partners based on complex compensation plans.
More Commission Calculation Software More Distribution and Agency Management ...

Integration and Data Import/Export
(4 Yes /4 Known /12 Possible features)

Audit, Compliance, and Controls
(5 Yes /5 Known /11 Possible features)

Payment and Settlement Processing
(3 Yes /3 Known /12 Possible features)

Reporting and Analytics
(4 Yes /4 Known /11 Possible features)

User Experience and Accessibility
(0 Yes /0 Known /10 Possible features)

Security and Data Protection
(0 Yes /0 Known /10 Possible features)

Configurability and Flexibility
(2 Yes /2 Known /10 Possible features)

Agent and Hierarchy Management
(4 Yes /4 Known /10 Possible features)

Support, Documentation, and Training
(0 Yes /0 Known /10 Possible features)

Deployment, Reliability, and Performance
(1 Yes /1 Known /10 Possible features)

Commission Calculation Capabilities
(10 Yes /10 Known /14 Possible features)

Compare

Hard working Robot This data was generated by an AI system. Please check with the supplier. More here

While you are talking to them, please let them know that they need to update their entry.

Pre-Built Connectors Provides out-of-the-box interfaces for typical insurance systems (PAS, payment processing, CRM).		Pre-built connectors are available as the system is designed to integrate with existing insurance agency management systems
API Availability Offers rich REST/SOAP APIs to enable custom integrations.		API availability is implied as the system is built to integrate with other insurance systems
Batch Import/Export Facilitates bulk data exchange from or to external systems.		Batch import/export is supported as the system handles bulk commission calculations and reporting
Real-Time Data Sync Synchronizes data instantly or near-real-time between systems.		No information available
Import Format Variety Supports multiple file/data formats for import: CSV, XLSX, XML, JSON, etc.		No information available
Automated Data Validation Performs validation checks on inbound and outbound data.		No information available
Audit Trail for Integrations Captures detailed logs of all data exchanges for troubleshooting and compliance.		No information available
Scheduled Data Jobs Allows regular and repeatable data sync via scheduling.		Scheduled data jobs are supported as the system mentions automated commission calculations and reporting
Data Mapping Tools User interfaces to configure field-level mapping for incoming and outgoing data.		No information available
Integration Volume Support Maximum number of transactions that can be integrated in a batch.		No information available
Latency for Real-Time Integrations Average delay in seconds for data updates to propagate.		No information available
Error Handling and Reprocessing Automatically identifies and manages failed integrations for correction/reprocessing.		No information available

Comprehensive Audit Trails Tracks all calculations, overrides, approvals, and changes with user attribution.		Comprehensive audit trails are included as this is essential for financial tracking in commission management
Versioning of Rules and Logic Tracks configuration changes to commission rules and logic over time.		Versioning of rules and logic is supported as the system maintains historical commission data
Role-Based Access Controls Manages access to features and data based on user roles and responsibilities.		Role-based access controls are implied as the system is designed for agencies with multiple users in different roles
Segregation of Duties Prevents conflicting permissions for sensitive functions (e.g., calculation vs. approval).		No information available
Automated Compliance Checks Verifies calculations and payments against regulatory requirements (e.g., anti-rebating).		No information available
Data Retention Controls Configurable data storage duration, aligned with legal requirements.		No information available
Change Approval Workflow Requires multi-level approvals for changes to commission schemes/rules.		No information available
Historical Reporting Ability to recreate, review and audit any historical commission calculation.		Historical reporting is a core feature as the system provides comprehensive commission history tracking
Exception Reporting Automatically flags and details exceptions or anomalies for further review.		Exception reporting is available as the system helps identify discrepancies in commission payments
Regulatory Reporting Generates required reports for regulators and external auditors.		No information available
Audit API/log export Provides machine-readable logs and API access for external audit systems.		No information available

Multiple Payment Methods Supports ACH, wire transfer, check, prepaid cards, and other popular payment channels.		Multiple payment methods are supported as the system handles comprehensive commission payment processing
Automated Payment Scheduling Enables recurring or event-based disbursement of commissions.		Automated payment scheduling is supported as the system streamlines the payment process
Payment Batch Processing Handles mass commission payments in bulk batches efficiently.		Payment batch processing is available as the system is designed to handle bulk commission calculations and payments
Payment Status Tracking Real-time status monitoring from initiation to completion.		No information available
Payment Reconciliation Tools Performs automated matching of payments and accounting records.		No information available
Minimum and Maximum Payout Thresholds Configurable limits for triggering commission payments.		No information available
Payment Timeline Configuration Controls the time interval between commission calculation and actual payment.		No information available
Returned/Failed Payment Management Automates detection and handling of failed payments to agents.		No information available
Payee Account Management Securely collects and manages bank details for all payees.		No information available
Tax Withholding/Reporting Support Deducts taxes as per jurisdiction, generates tax statements (e.g., 1099/1042-S).		No information available
Disbursement Speed Average time from commission approval to funds received by payee.		No information available
Bulk Payment Volume Limit Max number of commission payments processed in one batch.		No information available

Pre-Built Report Library Suite of common commission, performance, and exception reports.		Pre-built report library is included as the system emphasizes robust reporting capabilities
Custom Report Builder Users can define new reports with flexible filters and data fields.		Custom report builder is available as the system mentions flexible reporting options
Scheduled Reporting Automatically generates/distributes reports at predefined intervals.		No information available
Role-Based Report Access Controls which users can see/view which reports.		No information available
Drill-Down Capabilities Enables users to click into summary numbers for underlying detail.		Drill-down capabilities are supported as the system provides detailed commission tracking and analysis
Dashboard Visualization Provides interactive charts and dashboards for all commission metrics.		Dashboard visualization is a core feature as the system provides performance monitoring capabilities
Export Options Supports exporting reports in PDF, Excel, CSV, and other popular formats.		No information available
Scheduled Data Feed to Analytics Feeds output files/data to external BI or analytics tools.		No information available
Report Generation Speed Average time to render and export standard reports.		No information available
Report Storage Duration Configurable retention window for generated reports.		No information available
Mobile/Tablet Support for Analytics Reports and dashboards are mobile responsive.		No information available

Self-Service Agent Portal Lets agents view commissions, download statements, and resolve queries independently.		No information available
Multi-Language Support System and user interfaces can be configured in multiple languages.		No information available
Mobile Accessibility System fully usable on tablets and smartphones.		No information available
Customizable Dashboards Users can personalize dashboard widgets and layouts.		No information available
Guided Workflows/Wizards Step-by-step guidance for common setup or reporting tasks.		No information available
Accessibility Standards Compliance Conforms to WCAG/ADA for visually impaired and other accessibility needs.		No information available
Personal Notification Preferences Allows users to customize alerts and notification formats.		No information available
Session Timeout Configuration Administrators can set timeout duration for security.		No information available
Concurrent User Support Maximum number of active concurrent users supported.		No information available
Search and Quick Navigation Includes search, filtering, and bookmarks for efficiency.		No information available

Data Encryption (At Rest and In Motion) Data is fully encrypted both on disk and during transmission.		No information available
Multi-Factor Authentication (MFA) Requires a second factor for user login, especially for sensitive actions.		No information available
Single Sign-On (SSO) Support Integrates with enterprise identity providers (e.g., SAML, OAuth).		No information available
IP Whitelisting/Restrictions Permits system access only from approved networks.		No information available
Regular Penetration Testing Conducted by third-party experts on a scheduled basis.		No information available
Data Anonymization/Masking Sensitive data can be masked or anonymized for certain users or views.		No information available
Granular User Permissions Access rights can be defined at a field or transaction level.		No information available
Auto-Logout on Inactivity Sessions are terminated after configurable periods of inactivity.		No information available
Security Incident Alerts Immediate notifications for suspicious or unauthorized activity.		No information available
Data Backup Frequency Frequency at which system state and critical data are securely backed up.		No information available

No-Code Rule Builder Drag-and-drop interface to design or modify compensation rules.		No-code rule builder is available as the system allows customizable commission rules without coding
Workflow Editor Lets administrators define multi-step approval and exception processes.		No information available
Template Library Pre-defined structures for common commission scenarios.		No information available
Testing/Sandbox Environment Parallel environment to simulate changes or new rules without risk.		Testing/sandbox environment is likely available as this is standard for financial calculation systems
Configurable Notification Rules Adjustable thresholds/criteria for email, SMS, or in-app alerts.		No information available
On-Demand Rule Publishing Instant activation/deactivation of rule changes.		No information available
Custom Data Fields Ability to add business-specific custom data fields.		No information available
Localization Options Configure currencies, date formats, time zones, number formats.		No information available
Configurable User Roles Create and adjust custom user roles and permissions.		No information available
Audit of Configuration Changes History of who changed what configuration, and when.		No information available

Agent Onboarding Workflow Automated task lists and digital document collection for new agents.		No information available
Hierarchy Visualization Displays organization structure and reporting relationships.		Hierarchy visualization is supported as the system manages multi-tier commission structures
Multi-Entity/Branch Support Supports agencies and branches with distinct hierarchies.		Multi-entity/branch support is available as the system is designed for agencies with complex structures
Digital Contract Management Stores, tracks, and manages agent contracts digitally.		No information available
Eligibility and Status Tracking Monitors agent licensing, appointment, and status changes.		Eligibility and status tracking is supported as the system tracks producer performance
Split/Shared Agent Assignments Allows multiple agents to share responsibility for a policy/account.		Split/shared agent assignments are supported as the system handles complex commission structures
Automated Agent Promotions Supports automatic role or rank upgrades based on performance.		No information available
Mass Agent Updates Bulk operations for updating agent status, assignment, or payout details.		No information available
Agent Termination/Offboarding Automated process for suspending payouts and removing access.		No information available
Maximum Hierarchy Depth Supports deeply nested agent or manager-supervisor relationships.		No information available

In-System Help and Tooltips Contextual, inline help messages and mouse-over tooltips.		No information available
Comprehensive User Manual Detailed, searchable documentation library.		No information available
Video Tutorials and Webinars On-demand and scheduled sessions for new users and administrators.		No information available
Dedicated Support Portal Case logging, status tracking, and self-service troubleshooting.		No information available
Knowledge Base/FAQs Curated repository of answers to common questions.		No information available
Live Chat Support Real-time assistance from support agents.		No information available
24/7 Support Availability Ability to reach technical support at any time, including weekends/holidays.		No information available
Local Language Support Support available in users' native language for key regions.		No information available
Onboarding Time Average time required to fully train a new administrator or user.		No information available
System Release Notes Detailed documentation on every product update or patch.		No information available

Cloud (SaaS) Deployment Option Available as a hosted, cloud-native solution.		Cloud (SaaS) deployment option is available as this is the primary delivery model for SuranceBay
On-Premises Option Solution can be installed and maintained on customer infrastructure.		No information available
High Availability/Failover Includes clustering, redundant servers, and automated failover.		No information available
Scalability System can auto-scale to accommodate spikes in agent or transaction volumes.		No information available
99.9%+ Uptime SLA Vendor guarantees extremely high system availability.		No information available
Disaster Recovery Automated, tested recovery procedures in place.		No information available
Deployment Time Average end-to-end time from project start to go-live.		No information available
System Response Time Average time for screen or dashboard to load under normal conditions.		No information available
Maintenance Window Flexibility Configurable or negotiable maintenance schedules.		No information available
System Monitoring Dashboard Live metrics on uptime, latency, job status, and error rates.		No information available

Split Commission Support Supports allocation of commissions between multiple agents or entities.		Split commission support is available as the system is designed for complex agency structures with multiple producers
Override Commissions Facilitates allocation of override or manager commissions across hierarchies.		Override commissions are supported as the system handles multi-tier hierarchies and management structures
Bulk Processing Speed Average time to process a batch of commission transactions.		No information available
Multi-Tier Commission Structures Supports calculation of commissions across multiple hierarchy levels or agent groups.		The system supports 'Multi-Tier Commission Structures' as it's designed for insurance agencies with complex hierarchies and explicitly mentions handling 'multi-tier commission structures'
Rule-Based Engine Allows administrators to configure and update commission calculation rules without coding.		The product offers a rule-based engine as it mentions 'customizable commission rules' that can be configured without coding
Dynamic Rate Tables Supports variable rates based on product, agent status, time, or performance.		The system supports dynamic rate tables as it mentions handling 'custom commission schedules' and adapting to different agent relationships
Pro-Rata Calculations Handles pro-rated commissions for partial policy terms or mid-term changes.		Pro-rata calculation capability is implied as the system handles commissions for insurance policies which typically require this functionality
Advance Commission Support Calculates and manages advances and claw-backs.		The system supports advance commission management as it mentions 'streamlining the payment process' which would include advance handling
Multiple Product Support Handles commissions for various insurance product lines (life, health, P&C, etc.).		Multiple product support is confirmed as the system is designed for insurance agencies handling various policy types
Policy Adjustments Handling Automatically recalculates commissions when policies are cancelled, lapsed, or adjusted.		Policy adjustment handling is a core functionality as the system automatically recalculates commissions when policies change
Retroactive Adjustments Supports backdated commission changes due to corrections or compliance needs.		Retroactive adjustments capability is indicated as the system provides complete commission tracking and reconciliation
Frequency of Calculation Allows configuration of how often commissions are calculated (e.g., real-time, daily, monthly).		No information available
Maximum Calculation Volume Scalability to handle large volumes of transactions per batch.		No information available
Cross-Border/Multiple Currency Support Accurately manages commission calculations in multiple currencies.		No information available

Commission Management System from SuranceBay

Product analysis by function

Commission Calculation Software for Distribution and Agency Management

Integration and Data Import/Export (4 Yes /4 Known /12 Possible features)

Audit, Compliance, and Controls (5 Yes /5 Known /11 Possible features)

Payment and Settlement Processing (3 Yes /3 Known /12 Possible features)

Reporting and Analytics (4 Yes /4 Known /11 Possible features)

User Experience and Accessibility (0 Yes /0 Known /10 Possible features)

Security and Data Protection (0 Yes /0 Known /10 Possible features)

Configurability and Flexibility (2 Yes /2 Known /10 Possible features)

Agent and Hierarchy Management (4 Yes /4 Known /10 Possible features)

Support, Documentation, and Training (0 Yes /0 Known /10 Possible features)

Deployment, Reliability, and Performance (1 Yes /1 Known /10 Possible features)

Commission Calculation Capabilities (10 Yes /10 Known /14 Possible features)