Commission/Premium Calculations Configuration

You can set up Commissions/Premium Calculations to calculate the estimated commissions and premiums on all lines of business and roll them into the associated policies. This calculation tool is useful if you need to calculate line commission amounts for migrated policy data, or if the policy information you receive from Download does not require manual updates.

If you enable this option, it updates the estimated Commission, Line Commission, Premium, and Line Premium values based on the specified criteria. Commission is also updated for producers and brokers on the Line screen of the policy’s Servicing/Billing tab.

This calculation can be performed on both current policies and History policies.

1. From the Home screen, do one of the following:

1. • Click Configure on the navigation panel.
   • Click the down arrow next to Home on the menubar and select Configure.
   • Click Areas > Configure on the menubar.

From any other area of the program, do one of the following:

2. • Click the down arrow to the right of the Home options bar button and select Configure.
   • Click Home > Configure on the menubar. The Configure screen displays.
   • Click Policy on the navigation panel or Areas > Policy on the menubar.
3. Click Commissions/Premium Calculations on the navigation panel.
4. Select the appropriate radio button:
   • Do not run: Do not use this tool.
   • Auto run after download: Run this tool automatically after each Download. Commission and premium amounts will be calculated for every policy/line that meets your criteria and has been updated since the tool was last run, regardless of whether these updates were made manually or via Download.
   • Schedule: Specify the initial date and time you want to run the tool, and then choose a Recurrence. Commission and premium amounts will be calculated for every policy/line that meets your criteria and has been updated since the tool was last run, regardless of whether these updates were made manually or via Download.
5. Set the criteria for running this tool.
   • Agency
   • • Select the appropriate radio button:
     • • All: Run the calculations for all agencies.
       • Selected: Choose an agency in the dropdown menu and click Add. Repeat this action for each agency for which you want to run the calculations.
   • Branch
   • • Select the appropriate radio button:
     • • All: Run the calculations for all branches.
       • Selected: Choose a branch in the dropdown menu and click Add. Repeat this action for each agency for which you want to run the calculations.
   • Department
   • • Select the appropriate radio button:
     • • All: Run the calculations for all departments.
       • Selected: Choose a department in the dropdown menu and click Add. Repeat this action for each agency for which you want to run the calculations.
   • Expiration Date
   • • Enter a number between 0 and 366 in the System date minus ___ days field to filter policies based on expiration date. You can run the tool on historical policies up to one leap year (366 days) beyond their expiration dates.
       
       Note: Zero is the default value, meaning no historical policies will be included.
   • Calculations
   • • Make a selection under Sum the estimated premium from all lines and update the estimated premium on the policy if:
     • • Any line has an estimated premium greater than $0: Select this option if you want the calculation to run on any updated policy containing an Estimated Premium value, even if estimated premium information is missing for some lines.
       • All lines have an estimated premium greater than $0: Select this option if you want the calculation to run only on updated policies for which all lines of business have Estimated Premium information.

To verify that the calculation has run, locate the CommissionCalculation row in the Complete/Cancelled view in Jobs.