Introduction to Commission Chains
Commission Chains are used to manage chains of Agent commissions within SchemeServe, whether you are working with Agents, DAs, ARs, Networks, Packagers etc. and regardless of the region or legal jurisdiction in which you are operating.
NB: 'Agent' is a SchemeServe term used to refer to any third party (other than Client), regardless of whether they are an insurance broker, a network, an AR or anything else.
There are two key aspects to their use: A. Creating Chains of Agent(s) B. Setting Commissions per Agent
A. Creating Chains of Agent(s)
- To create a chain of Agents, first create all of the third parties you will be dealing with in the normal way via the Get Quote process. Each party must be created as a normal SchemeServe Agent.
- Once you have all of the parties required set-up as Agents within your SchemeServe account, you need to chain them together.
- To chain Agents together, visit the Agent page and search for the Agent, Once you have found the Agent click on "Edit this Agent" in the top right hand corner, This opens up the "General" tab within this you will see a "Type of Account" heading and under this is a "Appointed Representative" check box, if you check this and then select the Parent Agent for the Agent you are on.
- Once you have created the chain, you may then start setting commissions for each Agent in the chain.
B. Setting Commissions per Agent
- To set commissions per scheme, per Agent, you will need to search for an Agent using the Agents tab within SchemeServe.
- Once you have found the Agent in question, click on "Edit this Agent" and go to the Commissions tab.
- From the dropdown box labelled Scheme, choose the Scheme for which you'd like to set commissions, and then choose the correct Insurer from the Insurer dropdown box.
- You will then see a list of the Risk Groups for the scheme in question, with Commission input boxes for each.
- For each Risk Group for that Agent, set the percentage commission that you would like for that Agent.
Note: the percentage is a percentage of the total premium for any given policy NOT a percentage of any parent Agents commission.
The visible affects of using Commission Chains
In SchemeServe, when working with Commission Chains the visible effects throughout the software are as follows:
- On the Matrix tab for any given Case that you are viewing, you will see commissions due to each party in the chain.
- When running reports that include the column 'Commission Chain', such as Bordereau, you will see columns to show you who each party in the chain is, and how much commission they are due.
Important: Commission Chains are frozen at the point a Case is created. This means that when a chain of Agents is set, any Cases created from that point onwards will have their chain and commission rates applied as per the chain you have set up. If you change the chain and commissions, it will only affect future cases and Renewals/Adjustments.