Share Revenue- Policies

Adding Producers

When a producer is being used as a resource on a policy, and that producer's home office is also receiving a portion of the revenue, you should utilize the Share Revenue fields when adding that producer to the policy. If revenue is being shared strictly with another office and not with a specific producer, you should add that office's designated house producer to the policy.

Use the following workflow to add a producer to a policy using the Share Revenue feature.

1. At the line detail level, access the Pr/Br Commissions tab.
2. Click the Add icon to the left of the list. The Pr/Br Commission screen displays.
3. Select PPAY for Producer Payable from the Pr/Br dropdown.
   Note: If you select BPAY, add the broker as usual. The Share Revenue frame at the bottom of the window is disabled in this case, as revenue sharing is available only for producers.
4. Select the desired producer from the Code dropdown.
   • If this producer is not installed to share revenue in Employee Detail, the Share Revenue frame is disabled.
   • If this producer is designated as a House producer in Employee Detail, you are unable to enter commission information. The Agreement, Contract, Type, Percent, and Amount fields are disabled. The Share Revenue frame is enabled. The percentage of revenue entered here will be shared with the specified structure as a whole, rather than with an individual producer.
   • If the producer is installed to share revenue but is not designated as a House producer, the Share Revenue frame is enabled. However, the producer does not necessarily have to share revenue on this particular policy (see step 6).
5. If applicable, enter the producer's Production credit %. If your system is installed to default the producer's production credit as the share revenue percentage in System Settings, the Revenue % field defaults accordingly.
6. Modify the information in the Share Revenue frame, if necessary.
   • Revenue %: Enter the share revenue percentage for the receiving office. If this producer is installed to share revenue, but is not sharing revenue on this particular policy (i.e. the individual producer receives commission, but no structure receives a portion of the revenue), you may enter a Revenue % of 0.0000.
     
     Note: If at least one producer is sharing revenue, the total Revenue % for all producers on the line of business must equal 100%.
   • Agency/Branch/Department/Profit Center: The structure information in the Share Revenue frame defaults based on the primary office entered for this producer in employee detail.
   • • House producers- If only the agency is specified in the producer's employee detail, you will need to select the remaining structure levels from this screen.
     • Commissionable producers- If additional structures are listed on the Share Revenue tab in employee detail, you are able to select a different location; otherwise these fields cannot be changed.

To view the revenue sharing information in the Pr/Br Commissions list, click the Select Columns link label. The following columns are available for selection and reflect the data entered in the Share Revenue frame.

• Rev Receiving %
• Rev Receiving Agcy (lookup code defined in Agency Configuration)
• Rev Receiving Agcy Name
• Rev Receiving Brch (lookup code defined in Branch Configuration)
• Rev Receiving Brch Name
• Rev Receiving Dept (lookup code defined in Department Configuration)
• Rev Receiving Dept Name
• Rev Receiving Prft Cntr (lookup code defined in Profit Center Configuration)
• Rev Receiving Prft Cntr Name

Policy Renewal and Endorsement

When a policy that includes revenue sharing is renewed, all revenue share information carries over from the previous term (granted it passes the verifications listed below). This includes the Revenue %, Agency, Branch, Department, and Profit Center entered for each producer. The system performs the following checks for each producer:

• Verifies the structure is still valid
• Verifies the structure is entered as this employee's primary office or as a valid additional structure for this employee
• Verifies that the producer payable contract matches the agency and branch combination defined as this employee's primary office

Additionally, the system verifies the Share Revenue % for all producers on a line totals 100 (if at least one producer has been installed to share revenue on this line).

If an employee was not currently installed to share revenue, but now is, the policy detail is updated to include the primary office from that employee's account detail. Additionally, if the system is installed to default production credit percentage as share revenue percentage, the share revenue percentage for this employee defaults accordingly.

If an employee is now defined as a House producer, but was not previously, the system removes all commission information for that employee upon policy renewal. The primary office from the House producer's account detail defaults as the Share Revenue structure. If any structural levels are set to All and multiple selections are possible for that level, you will be prompted to select the appropriate structure upon finishing the policy renewal workflow.

When a new line is added to an existing in-process policy, revenue sharing information is carried over per producer, as described above, from the highlighted previous line.

If a policy is endorsed and a line is added midterm, producer information is carried over as described above from the first line on the package policy.