Commission reconciliation

Step-by-Step Breakdown

Detailed explanation of each automated stage in the workflow.

1. 1

   Trigger

   Receive carrier commission statement

   Monthly commission statement is received via email or portal from insurance carrier. Statement contains policy numbers, premium amounts, and commission rates.

   EmailCarrier Portal
2. 2

   Action

   Extract commission data automatically

   Parse commission statement PDF or CSV to extract policy numbers, premium amounts, commission percentages, and payment details. Clean and standardize data format for comparison.

   PDF ParserData Extraction API
3. 3

   Action

   Retrieve internal policy records

   Query agency management system to pull corresponding policy data including premiums, agent assignments, and expected commission rates. Match policies by policy number and effective dates.

   Applied EpicAMS360
4. 4

   Action

   Calculate expected vs actual commissions

   Compare carrier-reported commissions against internally calculated amounts based on policy premiums and commission schedules. Identify variances exceeding threshold amounts.

   Excel APICustom Calculator
5. 5

   Decision

   Check for significant discrepancies

   Evaluate if commission variances exceed predefined tolerance levels (e.g., $50 or 5%). Route high-value discrepancies for manual review and auto-approve minor differences.

   Decision Engine
6. 6

   Action

   Update agent commission records

   Post approved commission amounts to agent compensation tracking system and generate commission statements. Flag disputed amounts for follow-up with carriers.

   AMS360AgencyZoom
7. 7

   Output

   Generate reconciliation reports

   Create detailed reconciliation summary showing matched commissions, discrepancies requiring review, and total commission payments by agent. Send reports to accounting and management.

   Report GeneratorEmail

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