Add a company by choosing Setup on the main menu then choose Insurance Company Setup. The Insurance Company Entry screen will appear as below:
Completely fill out the information for the Company and click Save.
- Each company requires a unique 3 letter ‘Code’. Example: for Alexandria Underwriters – the code used is ‘ALX’.
- ‘Company Name’ to whom you write your checks for this carrier. Example: MGA name or insurance company.
- ‘Carrier Name’ is the name of the insurance carrier.
- If your insurance company requests that you send them a ‘Combined Check’, this means they allow you to remit multiple items on one check. The totals from each receipt will be added and printed onto a single check.
- If your insurance company allows you to send them a ‘Net Check’, The Agency Advantage will auto figure your commission and deduct that amount from your premium check to the insurance company.
Each Company is required to have at least one commission plan. Choose the ‘Class’ from the dropdown list and fill in the ‘Plan Name’. Then choose the ‘Type’ by expanding the drop down box and selecting New, Renewal, Rewrite, etc. If the company pays the same commission for all transactions, choose the asterisk*. Next enter the commission percentage or the flat fee rate (usually used with towing and rental or premium finance companies) for the plan. (To enter a Flat Fee you must type a zero amount in the Commission % box even though a zero amount is the default rate.)