Agent Commissions: Detail (Percent of Premium)
The Detail (Percent of Premium) report is a production-focused statement that relates an agent's earnings directly to the total premium volume of the policies they service. This format is specifically designed to hide the agency's gross commission received from the carrier, focusing instead on the agent's net pay relative to the policyholder's payment.
Report Purpose
This report is ideal for agencies that want to provide producers with a clear "Street Level" view of their earnings. By showing commission as a percentage of premium, agents can easily verify their payouts against the standard industry rates for specific product lines.
Key Features:
- Premium Transparency: Clearly lists the total premium for every transaction, reinforcing the value of the business the agent has written.
- Agency Privacy: The total "Gross" commission received by the agency is hidden, preventing disclosure of agency-level overrides or bonuses.
- Calculation Clarity: Displays the agent's earnings as a direct percentage of the premium, making it simple for agents to perform their own math.
Understanding the Layout
The report focuses on the client-to-agent relationship, removing any reference to agency-level revenue.
Core Data Points:
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Client Name: The specific individual or group policyholder.
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Premium: The total dollar amount the client paid for that coverage period.
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% of Premium: The calculated percentage of that premium that is being paid to the agent.
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Agent Commission: The final net dollar amount the agent receives.
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Date Paid: The date the transaction was finalized in the system.
Why Use This Format?
| Benefit | Description |
|---|---|
| Sales Performance | Agents can see exactly how much "Premium under management" they have, which is a common metric for production awards or licensing. |
| Simple Auditing | If an agent knows they are paid "5% of Premium" for a Dental plan, they can verify their check at a glance without needing to know the agency's cut. |
| Confidentiality | Protects the agency's proprietary contract rates with carriers while still providing the agent with all necessary data for their personal records. |
Troubleshooting
Q: Why does the "% of Premium" look very low? A: This usually happens on policies where the agent receives a small split of a large group premium. Ensure that the Carrier Table Agent Split is configured correctly for the specific policy type.
Q: What if the Premium column is blank? A: The system cannot calculate this report without premium data. Please ensure premiums are entered during importing carrier statements.
Need to adjust your agency's default report format? Contact support@commission-tracker.com
Detail (Percent of Premium)
This format hides the gross commission received from the carrier. Agents see their earnings as a percentage of premium.