Commission rules enable Momentum AMP to calculate agency commissions automatically. To set this up, you’ll need to enter different variations based on how the agency gets paid. This is necessary because commission rates can vary depending on the carrier, MGA, and lines of business. To define these rules, follow these steps:
1. Go to the top-right menu.
2. Hover over your name and select "Agency Profile".
3. Click on "Commission Rules" and then "Agency Commission Rules".
4. Select "Add New" next to the Commission Rules list.
5. Choose the appropriate carrier for the commission role.
6. Optionally, apply filters such as Referral Sources, validity dates, line of business class, and location to refine the rule. More filters mean a more specific rule.
7. If applicable, check the box to "ignore during carrier downloads processing" for carriers with downloads.
8. Enter the new business rate and renewal rate.
9. Save the commission rule.
Cautionary Notes
- Confirm you have selected the correct carrier before adding a commission rule.
- Carefully review all filters and rates before saving to prevent system errors.
Tips for Efficiency
- Familiarize yourself with the available filters to quickly set up commission rules.
- Keep a record of commission rates for each carrier to ensure accuracy.
- Regularly review and update commission roles to maintain system accuracy.
If you prefer a video, please click the link below:
Go to Step 7: Set Up Agent Commission Rules