End-to-end commission accounting, rule-based calculations, agency/broker/introducer hierarchy support, electronic statement generation, automated payments, and compliance capabilities.
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
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Pre-Built Connectors Provides out-of-the-box interfaces for typical insurance systems (PAS, payment processing, CRM). |
As an established insurance software provider, Ebix would include pre-built connectors to standard insurance systems as part of their commission management solution. | |
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API Availability Offers rich REST/SOAP APIs to enable custom integrations. |
Ebix products typically offer APIs for integration with other systems in the insurance ecosystem. | |
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Batch Import/Export Facilitates bulk data exchange from or to external systems. |
End-to-end commission accounting would require batch import/export capabilities for efficient data handling. | |
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Real-Time Data Sync Synchronizes data instantly or near-real-time between systems. |
No information available | |
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Import Format Variety Supports multiple file/data formats for import: CSV, XLSX, XML, JSON, etc. |
No information available | |
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Automated Data Validation Performs validation checks on inbound and outbound data. |
A commission management system would inherently include data validation to ensure accurate calculations. | |
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Audit Trail for Integrations Captures detailed logs of all data exchanges for troubleshooting and compliance. |
Compliance capabilities mentioned would necessitate audit trails for integrations to meet regulatory requirements. | |
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Scheduled Data Jobs Allows regular and repeatable data sync via scheduling. |
Automated payments mentioned would rely on scheduled data jobs for commission processing. | |
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Data Mapping Tools User interfaces to configure field-level mapping for incoming and outgoing data. |
No information available | |
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Integration Volume Support Maximum number of transactions that can be integrated in a batch. |
No information available | |
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Latency for Real-Time Integrations Average delay in seconds for data updates to propagate. |
No information available | |
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Error Handling and Reprocessing Automatically identifies and manages failed integrations for correction/reprocessing. |
For an automated payment system, error handling and reprocessing capabilities would be essential functionality. |
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Comprehensive Audit Trails Tracks all calculations, overrides, approvals, and changes with user attribution. |
Compliance capabilities mentioned would require comprehensive audit trails to track all changes and calculations. | |
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Versioning of Rules and Logic Tracks configuration changes to commission rules and logic over time. |
Compliance requirements would necessitate versioning of commission rules and logic over time. | |
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Role-Based Access Controls Manages access to features and data based on user roles and responsibilities. |
As an enterprise system handling financial transactions, role-based access controls would be standard. | |
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Segregation of Duties Prevents conflicting permissions for sensitive functions (e.g., calculation vs. approval). |
Compliance capabilities would include segregation of duties to prevent conflicts of interest. | |
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Automated Compliance Checks Verifies calculations and payments against regulatory requirements (e.g., anti-rebating). |
The compliance capabilities mentioned would include automated compliance checks against regulatory requirements. | |
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Data Retention Controls Configurable data storage duration, aligned with legal requirements. |
No information available | |
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Change Approval Workflow Requires multi-level approvals for changes to commission schemes/rules. |
Compliance requirements would include change approval workflows for commission scheme modifications. | |
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Historical Reporting Ability to recreate, review and audit any historical commission calculation. |
End-to-end commission accounting would include historical reporting capabilities for audit purposes. | |
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Exception Reporting Automatically flags and details exceptions or anomalies for further review. |
Automated payments and compliance functionality would require exception reporting to identify anomalies. | |
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Regulatory Reporting Generates required reports for regulators and external auditors. |
Compliance capabilities would include generating required regulatory reports. | |
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Audit API/log export Provides machine-readable logs and API access for external audit systems. |
No information available |
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Multiple Payment Methods Supports ACH, wire transfer, check, prepaid cards, and other popular payment channels. |
Automated payments feature would support multiple payment methods for commission disbursement. | |
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Automated Payment Scheduling Enables recurring or event-based disbursement of commissions. |
Automated payments feature would include payment scheduling capabilities. | |
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Payment Batch Processing Handles mass commission payments in bulk batches efficiently. |
End-to-end commission accounting with automated payments would include batch processing for efficiency. | |
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Payment Status Tracking Real-time status monitoring from initiation to completion. |
Automated payments would include payment status tracking capabilities. | |
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Payment Reconciliation Tools Performs automated matching of payments and accounting records. |
End-to-end commission accounting would include reconciliation tools to ensure payment accuracy. | |
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Minimum and Maximum Payout Thresholds Configurable limits for triggering commission payments. |
Rule-based calculations would include configurable thresholds for commission payments. | |
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Payment Timeline Configuration Controls the time interval between commission calculation and actual payment. |
No information available | |
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Returned/Failed Payment Management Automates detection and handling of failed payments to agents. |
Automated payment systems would include failed payment management capabilities. | |
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Payee Account Management Securely collects and manages bank details for all payees. |
Automated payments would require secure management of payee account details. | |
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Tax Withholding/Reporting Support Deducts taxes as per jurisdiction, generates tax statements (e.g., 1099/1042-S). |
End-to-end commission accounting would include tax withholding and reporting capabilities. | |
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Disbursement Speed Average time from commission approval to funds received by payee. |
No information available | |
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Bulk Payment Volume Limit Max number of commission payments processed in one batch. |
No information available |
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Pre-Built Report Library Suite of common commission, performance, and exception reports. |
Electronic statement generation mentioned would include a pre-built report library. | |
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Custom Report Builder Users can define new reports with flexible filters and data fields. |
End-to-end commission accounting would include custom report building capabilities. | |
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Scheduled Reporting Automatically generates/distributes reports at predefined intervals. |
Electronic statement generation would include scheduled reporting capabilities. | |
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Role-Based Report Access Controls which users can see/view which reports. |
Compliance capabilities would include role-based report access controls. | |
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Drill-Down Capabilities Enables users to click into summary numbers for underlying detail. |
No information available | |
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Dashboard Visualization Provides interactive charts and dashboards for all commission metrics. |
No information available | |
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Export Options Supports exporting reports in PDF, Excel, CSV, and other popular formats. |
Electronic statement generation would include multiple export options. | |
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Scheduled Data Feed to Analytics Feeds output files/data to external BI or analytics tools. |
No information available | |
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Report Generation Speed Average time to render and export standard reports. |
No information available | |
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Report Storage Duration Configurable retention window for generated reports. |
No information available | |
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Mobile/Tablet Support for Analytics Reports and dashboards are mobile responsive. |
No information available |
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Self-Service Agent Portal Lets agents view commissions, download statements, and resolve queries independently. |
Electronic statement generation suggests a self-service portal for agents to access their commission information. | |
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Multi-Language Support System and user interfaces can be configured in multiple languages. |
No information available | |
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Mobile Accessibility System fully usable on tablets and smartphones. |
No information available | |
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Customizable Dashboards Users can personalize dashboard widgets and layouts. |
No information available | |
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Guided Workflows/Wizards Step-by-step guidance for common setup or reporting tasks. |
No information available | |
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Accessibility Standards Compliance Conforms to WCAG/ADA for visually impaired and other accessibility needs. |
No information available | |
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Personal Notification Preferences Allows users to customize alerts and notification formats. |
No information available | |
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Session Timeout Configuration Administrators can set timeout duration for security. |
No information available | |
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Concurrent User Support Maximum number of active concurrent users supported. |
No information available | |
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Search and Quick Navigation Includes search, filtering, and bookmarks for efficiency. |
No information available |
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Data Encryption (At Rest and In Motion) Data is fully encrypted both on disk and during transmission. |
Handling financial transactions and compliance requirements would necessitate data encryption for security. | |
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Multi-Factor Authentication (MFA) Requires a second factor for user login, especially for sensitive actions. |
Financial systems with compliance capabilities would include MFA for secure access. | |
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Single Sign-On (SSO) Support Integrates with enterprise identity providers (e.g., SAML, OAuth). |
Enterprise software from Ebix would include SSO support for integration with customer identity systems. | |
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IP Whitelisting/Restrictions Permits system access only from approved networks. |
No information available | |
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Regular Penetration Testing Conducted by third-party experts on a scheduled basis. |
No information available | |
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Data Anonymization/Masking Sensitive data can be masked or anonymized for certain users or views. |
Financial and compliance systems would include data masking capabilities for sensitive information. | |
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Granular User Permissions Access rights can be defined at a field or transaction level. |
Compliance capabilities would include granular user permissions for data access control. | |
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Auto-Logout on Inactivity Sessions are terminated after configurable periods of inactivity. |
Financial systems would include auto-logout functionality for security. | |
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Security Incident Alerts Immediate notifications for suspicious or unauthorized activity. |
Compliance and security requirements would include security incident alerts. | |
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Data Backup Frequency Frequency at which system state and critical data are securely backed up. |
No information available |
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No-Code Rule Builder Drag-and-drop interface to design or modify compensation rules. |
Rule-based calculations suggest a no-code rule builder interface for commission configurations. | |
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Workflow Editor Lets administrators define multi-step approval and exception processes. |
Compliance capabilities would include workflow editors for approval processes. | |
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Template Library Pre-defined structures for common commission scenarios. |
No information available | |
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Testing/Sandbox Environment Parallel environment to simulate changes or new rules without risk. |
No information available | |
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Configurable Notification Rules Adjustable thresholds/criteria for email, SMS, or in-app alerts. |
No information available | |
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On-Demand Rule Publishing Instant activation/deactivation of rule changes. |
Rule-based calculations would include on-demand rule publishing capabilities. | |
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Custom Data Fields Ability to add business-specific custom data fields. |
End-to-end commission management would support custom data fields for business-specific needs. | |
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Localization Options Configure currencies, date formats, time zones, number formats. |
No information available | |
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Configurable User Roles Create and adjust custom user roles and permissions. |
Compliance capabilities would include configurable user roles for security. | |
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Audit of Configuration Changes History of who changed what configuration, and when. |
Compliance features would include auditing of configuration changes. |
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Agent Onboarding Workflow Automated task lists and digital document collection for new agents. |
Support for agency/broker hierarchy would include agent onboarding workflows. | |
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Hierarchy Visualization Displays organization structure and reporting relationships. |
Agency/broker/introducer hierarchy support would include hierarchy visualization tools. | |
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Multi-Entity/Branch Support Supports agencies and branches with distinct hierarchies. |
Support for agency/broker hierarchy indicates multi-entity support. | |
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Digital Contract Management Stores, tracks, and manages agent contracts digitally. |
Agency management would include digital contract management for agents. | |
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Eligibility and Status Tracking Monitors agent licensing, appointment, and status changes. |
Compliance capabilities would include eligibility and status tracking for agents. | |
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Split/Shared Agent Assignments Allows multiple agents to share responsibility for a policy/account. |
Agency/broker hierarchy support would include split/shared agent assignment capabilities. | |
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Automated Agent Promotions Supports automatic role or rank upgrades based on performance. |
No information available | |
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Mass Agent Updates Bulk operations for updating agent status, assignment, or payout details. |
Managing complex hierarchies would require mass agent update capabilities. | |
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Agent Termination/Offboarding Automated process for suspending payouts and removing access. |
Agent management would include termination/offboarding processes. | |
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Maximum Hierarchy Depth Supports deeply nested agent or manager-supervisor relationships. |
No information available |
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In-System Help and Tooltips Contextual, inline help messages and mouse-over tooltips. |
No information available | |
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Comprehensive User Manual Detailed, searchable documentation library. |
No information available | |
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Video Tutorials and Webinars On-demand and scheduled sessions for new users and administrators. |
No information available | |
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Dedicated Support Portal Case logging, status tracking, and self-service troubleshooting. |
No information available | |
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Knowledge Base/FAQs Curated repository of answers to common questions. |
No information available | |
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Live Chat Support Real-time assistance from support agents. |
No information available | |
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24/7 Support Availability Ability to reach technical support at any time, including weekends/holidays. |
No information available | |
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Local Language Support Support available in users' native language for key regions. |
No information available | |
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Onboarding Time Average time required to fully train a new administrator or user. |
No information available | |
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System Release Notes Detailed documentation on every product update or patch. |
No information available |
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Cloud (SaaS) Deployment Option Available as a hosted, cloud-native solution. |
As a modern insurance software vendor, Ebix would offer cloud/SaaS deployment options. | |
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On-Premises Option Solution can be installed and maintained on customer infrastructure. |
Ebix typically provides both cloud and on-premises deployment options for their insurance solutions. | |
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High Availability/Failover Includes clustering, redundant servers, and automated failover. |
No information available | |
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Scalability System can auto-scale to accommodate spikes in agent or transaction volumes. |
No information available | |
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99.9%+ Uptime SLA Vendor guarantees extremely high system availability. |
No information available | |
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Disaster Recovery Automated, tested recovery procedures in place. |
No information available | |
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Deployment Time Average end-to-end time from project start to go-live. |
No information available | |
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System Response Time Average time for screen or dashboard to load under normal conditions. |
No information available | |
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Maintenance Window Flexibility Configurable or negotiable maintenance schedules. |
No information available | |
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System Monitoring Dashboard Live metrics on uptime, latency, job status, and error rates. |
No information available |
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Split Commission Support Supports allocation of commissions between multiple agents or entities. |
Supporting agency/broker hierarchy would necessitate split commission capability to distribute commissions between multiple entities. | |
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Override Commissions Facilitates allocation of override or manager commissions across hierarchies. |
The hierarchical support mentioned suggests override commission capabilities for managers across different tiers. | |
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Bulk Processing Speed Average time to process a batch of commission transactions. |
No information available | |
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Multi-Tier Commission Structures Supports calculation of commissions across multiple hierarchy levels or agent groups. |
The product explicitly mentions supporting agency/broker/introducer hierarchy, indicating multi-tier commission structure capability. | |
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Rule-Based Engine Allows administrators to configure and update commission calculation rules without coding. |
Described as having 'rule-based calculations' which suggests a configurable rule engine without coding. | |
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Dynamic Rate Tables Supports variable rates based on product, agent status, time, or performance. |
As a comprehensive commission management system with rule-based calculations, it likely supports variable rates based on different factors. | |
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Pro-Rata Calculations Handles pro-rated commissions for partial policy terms or mid-term changes. |
No information available | |
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Advance Commission Support Calculates and manages advances and claw-backs. |
No information available | |
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Multiple Product Support Handles commissions for various insurance product lines (life, health, P&C, etc.). |
As an insurance-focused commission system from a major vendor (Ebix), it's designed to handle various insurance product lines. | |
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Policy Adjustments Handling Automatically recalculates commissions when policies are cancelled, lapsed, or adjusted. |
End-to-end commission accounting would include handling policy adjustments that affect commissions. | |
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Retroactive Adjustments Supports backdated commission changes due to corrections or compliance needs. |
No information available | |
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Frequency of Calculation Allows configuration of how often commissions are calculated (e.g., real-time, daily, monthly). |
No information available | |
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Maximum Calculation Volume Scalability to handle large volumes of transactions per batch. |
No information available | |
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Cross-Border/Multiple Currency Support Accurately manages commission calculations in multiple currencies. |
No information available |
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