Insurance commission software built to drive agent performance
Our insurance commission software automates complex crediting rules, ensures compliance, and motivates agents with real-time transparency into earnings made across products.
Trusted by Enterprises Around the Globe
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Track and analyse commissions paid for any insurance products
Provide complete visibility into commission logic on various policies
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Forecast earnings based on different policies
Your insurance agent can calculate the potential commissions that they can earn upon selling different types of policies, including health, vehicle, and so on.
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Provide calculation logic documents in-app itself
Enable your agents to understand how commissions are calculated for different policies which are assigned to them under a documents tab in a mobile app.
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Provide real-time commission tracking with a mobile app
Enable your agents to keep track of their complete history of all commission payouts received, including dates, amounts, etc.
Simplify plan complexity and compliance in insurance commissions
Handle state and federal regulations
We ensure that you stay compliant with all local, regional and international regulations for different licensing requirements, commission caps, and disclosure rules for each state.
Automatically calculate and withhold taxes based on local tax laws and regulations.
Provide reports including changes made to commission plans, adjustments, and payment history.
Ensure that sensitive payment data is encrypted to protect against unauthorized access.
Stay compliant with revenue recognition standards and regulations of NAIC, FIO, etc.
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Improve agent performance and sales
Replace outdated, costly systems prone to errors with our insurance commission software that enables you to gather ROI insights on policy sales tied to various commission plans.
Track agent performance based on policy sales, renewals, etc
Track your agent's performance metrics, potential payouts, and any adjustments made due to splits, clawbacks, or other factors. Provide them with real-time earnings visibility on a mobile app.
Automate agent commission statement with on-time payouts
Enable on-time payouts for your agents, whether on a transactional or aggregate basis, with error-free calculations. You can automate commission approvals and reduce manual labour.
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Report on policy performance
Leverage our platform's in-depth reports to track agent commission payouts, analyze policy performance, and uncover upsell and cross-sell opportunities.
Commission summary
Custom dashboards
Overrides
Policy reconciliation
Commission vs premium
Premium payments
Split commissions
Cancelled policies
Escalations
Commission forecasts
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Run AI-powered sales contests
Gather insights on how the sales competitions are helping your agent’s performance in different ways and enable them to track their performance on the go.
Run sales contests and stream live on your company’s digital screens worldwide.
Launch one-on-one or team competitions, rewarding top performers to drive sales.
Keep your sales reps engaged and create urgency with race-based competitions.
Create communities to let team members collaborate and support each other toward common goals.
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The most affordable alternative in the insurance commission software space
Trusted by leading global enterprises
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Now, we have real-time access to all the reports we need, fully automated and accurate. The transparency Compass offers has made it easier for our finance team to reconcile payouts quickly and for our sales team to understand their earnings.
Fast-growing insurtech platform
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The automation has not only improved accuracy but has freed up our team to focus on more strategic initiatives. It’s made a huge difference in the speed and efficiency of our commission workflows.
Leading insurance company
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Compass has given our sales team greater transparency into their earnings and has improved the efficiency of our internal reporting. We’re able to make better business decisions based on clear, up-to-date data.
National insurance provider
FAQs
Automating incentive processes lets your team focus on their core sales activities without worrying about errors or payout delays. Additionally, real-time visibility into performance ensures that your team knows exactly how their efforts translate into rewards, keeping them motivated and aligned with company goals.
Compass provides gamification elements such as leaderboards, badges, and performance tracking. These features foster healthy competition among your reps and provide instant visibility into their performance. You can set up custom challenges or SPIFs to incentivise key behaviours, helping increase morale and drive better sales outcomes.
Compass handles complex insurance plans by offering a robust system that accommodates multi-level commission structures and varied payouts for agents and managers. It supports hierarchical management with customizable incentive tiers for different levels of agents, managers, and regional heads. The software also simplifies payouts across multiple geographies, factoring in regional compliance and multi-currency support. Additionally, it automates intricate calculations for various incentive plans, ensuring accurate and timely payouts while reducing administrative overhead and errors.
Yes, Compass Insurance Commission Software can significantly boost your company’s revenue by enhancing your sales team’s performance through several key features:
- 1. Leaderboards and Gamification: Encourages healthy competition among agents, keeping them motivated to achieve targets.
- 2. Customization: Allows tailored incentive structures to align with your unique business goals.
- 3. Timely Payouts: Builds trust and satisfaction among agents by ensuring accurate, on-time payments.
- 4. Real-Time Tracking: Provides agents and managers visibility into their performance, helping them adjust strategies.
- 5. Detailed Reporting and Analytics: Delivers actionable insights to optimize sales strategies.
- 6. Transparency Across Hierarchies and Geographies: Ensures clarity in commission calculations, fostering trust and alignment across all levels and regions.
These features collectively drive productivity and engagement, ultimately boosting revenue.
You can run sales contests using gamification elements, including leaderboards, scorecards, race themes, etc. After each contest is completed, Compass allows you to measure its impact on the KPIs of reps who participated in it, including deal velocity, conversion rates, and revenue increases.
Yes, Compass supports importing organizational hierarchies of any size and dimension. Whether you need to structure data by product lines, territories, roles, or geographies, you can ensure that your commission calculations align with your organizational structure.
Before the commission or incentive plans go live, you can test changes to compensation plans, including variable adjustments and reporting structures. This ensures that you can predict the impact of any changes and make informed decisions without disrupting your operations.
Enterprise grade data security and privacy management
