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Check broker commission before the statement goes out

A commission run can pay a renewal at the new business rate or miss the return commission on a cancellation. Duvo checks each line against your policy transactions and the broker’s terms of business, and flags the differences for commission accounting to correct before brokers see them.

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Broker commission reconciliation

Needs review

Commission CM-101

Statement
Draft
Difference
Renewal rate
Owner
Commission accounting

The renewal line uses the new business rate. The terms of business version in force sets a separate renewal rate for this class.

Next action

Hold for correction: the line stays off the issued statement until the commission owner approves the corrected amount.

Refer agreement question: the distribution manager who owns the broker’s terms of business confirms which version applies.

Commission owner approval

The commission accounting owner approves each correction before the statement is issued.

View the wider product queue

Broker commission reconciliation

Draft broker statement with a renewal paid at the new business rate.

Adds cases
Commission run output
Processes cases
Broker commission reconciliation
Total

24

Pending

5

Postponed

2

In progress

4

Needs input

3

Failed

0

Completed

10

Add filter
Case
Case Status
Commission difference
Scope
Decision
Exceptions
Next action
Commission CM-101
Needs Input
Rate differs from agreement
Renewal transaction
Hold for correction
1
Commission CM-102
In Progress
Return commission missing
Policy cancelled
Propose return line
0
Commission CM-103
Completed
Correction approved
New business
Check issued statement
0
Commission CM-104
Pending
Broker code mismatch
Agency transfer
Check placing broker
1
Commission CM-105
Postponed
Adjustment missing
Mid-term change
Propose adjustment line
0

Showing 5 of 24 cases

  1. 1

    Approval

    Exceptions pause for the named owner

    Each exception carries the source records, applied rule, recommended action, and the person authorised to decide.

  2. 2

    Commission difference

    Commission difference is visible before the action

    The renewal line uses a rate that differs from the broker’s terms of business in force.

Check a broker commission statement before issue

This month’s commission run pays one broker the new business rate on several renewals, misses the return commission on a policy cancelled mid-term and credits a transferred policy to the broker who lost the account. The broker finds the errors, queries them and waits for an adjusted statement. Commission accounting has to line each entry up against the policy history and the terms of business in force at the time.

  1. 0101

    Match commission lines to policies

    Duvo links each line of the broker’s draft statement to the policy administration record by policy reference, transaction type and effective date.

  2. 0202

    Check the terms of business

    Duvo compares matched lines with the terms of business version in force and flags rate differences, missing return commission, missing adjustments and lines credited to the wrong broker.

  3. 0303

    Your team decides

    Approve the correction

    The commission accounting owner decides each flagged line: correct it before the statement is issued, or leave it unchanged with a note.

  4. 0404

    Confirm the issued statement

    Approved corrections are recorded against their lines. Duvo checks the issued statement carries each corrected amount and flags any that did not make it through.

Check each line against the policy and the terms of business

Systems and control details

Checks run on the commission run output, the policy administration system and the signed terms of business, for one broker group to begin with. Broker codes and access to cancellation and transfer history are confirmed first.

Commission run output, Policy administration system, Broker terms of business, Broker code register

  • Commission owner approval

    The commission accounting owner approves each correction before the statement is issued.

  • No entitlement or payment decisions

    Duvo does not decide disputed entitlement, change a broker’s terms of business, post journals, or release or withhold commission payments.

  • Keep the calculation basis

    Each statement line, policy transaction, agreement effective date and approval are kept together. The originally calculated amount stays on record beside any correction.

What teams ask about Broker commission reconciliation

  • How does Duvo know which commission rate applied to a policy?

    It uses the broker’s terms of business and rate schedule you supply, choosing the version in force on the transaction date for that class of business. If no version covers the date, the line is flagged instead of checked.

  • Can Duvo catch commission credited to the wrong broker after an agency transfer?

    Yes, where the transfer is recorded. Duvo compares the broker code on each line with the policy’s broker history and flags lines credited to a broker who did not hold the account on the transaction date.

  • What happens when a broker queries a line after the statement is issued?

    Duvo brings the line’s policy transaction, agreement version and any earlier correction into one record for commission accounting. The owner decides the answer and any adjustment.

  • Does Duvo change the commission run or post corrections?

    No. Approved corrections go to commission accounting to apply in the commission system. Journals and payments stay with your finance team.

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