An underperforming commission system can be a huge financial drain for an insurance carrier. Overpayment rates are estimated to range from 2% to 8% which results in a loss of $20,000 to $80,000 for every million dollars in commissions paid. The cost associated with managing this business function is not in line with the performance. This results in excessive personnel costs and overpayment expense, as well as opportunity cost due to an inability to support corporate strategy and improve producer relations.
Learn about a commission and compensation system that will drive ROI by supporting unlimited payment schedules and providing comprehensive reporting of all results delivered over the Web. Explore how you can ensure strict security through role-based security and complete audit trails, which maintains compliance with Sarbanes-Oxley and other regulations.
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