Broker Bill overview

Overview

Use Broker Bill when an intermediary controls billing and collections between your agency and the carrier. In this setup:

• The broker invoices the insured.

• The broker collects the premium.

• The broker remits the net premium to your agency after retaining their commission.

Your agency does not bill the insured directly. The broker pays your agency instead of the carrier paying commission directly.

Update the Billing Type

The Billing Type on the policy record needs to be updated to reflect Broker billing.

1. Navigate to the Policy record.

2. Click the pencil icon on the Billing Type field.

   

3. Select Broker, then click Save.

Enter Broker details

1. In the Accounting section of the Details page, fill out the Broker details, including:

   1. Broker Name

   2. Broker Commission % or Broker Commission Amount (you must pick one)

   3. Broker Commission Basis

Insert billing

1. Click Insert Billings.

   

2. On the confirmation modal, click OK.

   

3. On the Accounting tab, confirm the billing record shows the premium net of commission billed to the broker.

Resolving errors when creating Billings

Include in Down Payment error

You may see an error when selecting Include in Down Payment while creating new Billings. This typically occurs when the Broker Commission Amount field is blank. The field should auto-populate when you enter a value in Broker Commission %. However, users can manually edit this field, and the value may be deleted or fail to populate.

How to resolve

1. Navigate to the policy record.

2. Change Broker Commission % field to 0.

3. Click Save.

4. Update the Broker Commission % field back to the correct percentage.

5. Click Save.

6. Confirm that the Broker Commission Amount field now has a value.

Once the field populates correctly, you can create Billings with Include in Down Payment selected without errors.