If you’ve ever felt like you’re “drowning in spreadsheets,” you aren’t alone. For many insurance agencies, the sheer volume of data involved in tracking commissions becomes a “monumental task” that is far too difficult to keep up with manually. But what if you could take a process that used to occupy a full week of manual data entry and condense it into just a few minutes?.
That is the power of the Import Carrier Statement feature in Commission Tracker. It isn’t just about recording payments; it’s about building your entire Book of Business with the click of a button.
Build Your Database While You Work
One of the biggest hurdles to starting new software is the initial data load. However, Commission Tracker changes the game. If your database is currently empty, every payment on your carrier statement is recognized as a new policy.
Instead of manually typing in every client and policy detail, the Import Carrier Statement (ICS) application helps you quickly create all missing policies using the raw data directly from the carrier’s own files. This means your software isn’t just a blank slate—it becomes a fully functional tool reflecting your actual production almost immediately.
The Speed of Automation: Excel and CSV Imports
The fastest way to move your agency forward is to leverage the files carriers already provide. Most carriers offer commission statements in Excel or CSV formats, and Commission Tracker is designed to “read” these files with incredible speed.
- Smart Mapping: You simply “teach” the software which columns contain your policy numbers, billing dates, and commission amounts.
- Memory for Future Growth: Once you define a map for a specific carrier, the program saves those settings. The next time you receive a statement from that carrier, the process is even faster because the software already knows exactly what to do.
- Handling Complexity: Even if you have multiple agents sharing a policy or complex commission splits, the system automatically applies the correct rules as the data flows in.
Accuracy You Can Count On
Manual tracking often leads to “leaks throughout the process” and a lack of proper checks and balances. By importing carrier statements, you remove the risk of human error and gain peace of mind.
The system doesn’t just accept data; it reconciles it. It flags errors, identifies missing revenue, and ensures that every dollar the company receives is tracked and every producer is paid the agreed-upon percentages they earned. If there is a discrepancy between what you expected and what the carrier paid, the software highlights it immediately, allowing your auditing process to start right away.
Strategic Insights from Day One
The moment your statement is imported, you unlock the ability to generate powerful reports from every angle of your business. You can instantly view your Agency Payments Received to verify accuracy, check your Accounts Receivable to see what you are still owed, and evaluate your Book of Business to understand the true worth of your agency.
With decades of experience and a support team described as “absolutely superb,” Commission Tracker is the battle-tested solution your agency needs to stop guessing and start knowing.
Ready to see how fast your agency can grow?
Ready to See It in Action?
Find out how Commission Tracker can help you recoup valuable time, ensure accurate reporting, and simplify your commission payouts.
About the Author
Marsha serves as the Marketing Specialist and Commission Processor at Commission Tracker, leveraging her exceptional insight to identify features that will optimally support diverse clients.