Unlocking Insights: Tracking New Policies with the ACE Report by Effective Date

Welcome to the world of Commission Tracker! As a user, you’re likely eager to understand your agency’s performance and the contributions of your agents. One of the most powerful tools at your disposal is the Agent Commissions Earned (ACE) report. While it can provide a wealth of information on agent earnings, did you know you can also use it to gain valuable insights into newly written policies by filtering by their effective date? Let’s dive in and see how!

What is the ACE Report?

Think of the ACE report as a comprehensive overview of the commissions your agents have earned within a specific period. According to the sources, this report provides detail about every commission earned and comes in various formats, allowing you to see the information that’s most relevant to you and your agents.

Why Focus on Effective Dates for New Policies?

Filtering the ACE report by the effective date of a policy allows you to specifically look at policies that have recently gone into effect. This is particularly useful for:

• Tracking New Business: Easily identify the policies that your agents have recently brought in.
• Evaluating Recent Agent Activity: See which agents have been most successful in acquiring new clients and writing new policies within a specific timeframe.
• Understanding Growth Trends: By running this report over different periods, you can start to see trends in your agency’s new business acquisition.
• Verifying Data Entry: Quickly check if newly entered policies are appearing in your commission records as expected.

Here’s How to Run an ACE Report by Effective Date:

Let’s walk through the steps to generate this insightful report:

1. Navigate to the Reports Section: In Commission Tracker, go to the Reports menu.
2. Select the Agent Commissions Earned Report: Look for and click on the Agent Commissions Earned option.

Set Your Date Range: This is where the magic happens! Instead of focusing on the receive date or billing date of the commission payments, you’ll want to specify a date range for the effective date of the policies.

• Locate the date range filters on the ACE report screen. The sources mention the availability of “Preset” Date Ranges for popular reports, which might include options like “Last Month” or “This Month.”
• However, to specifically focus on new policies, you’ll likely want to select a custom date range that corresponds to the period you’re interested in (e.g., the last week, the last month, a specific quarter).
• Crucially, ensure you are filtering by the “Effective Date” of the policy, not the date the commission was received or billed. While the report interface might have several date options, the effective date is the starting point of the policy’s coverage.

1. Choose Your Report Format: The ACE report offers various formats (e.g., Detail, Summary). Select the format that provides the level of detail you need. For analyzing new policies, a detailed format might be helpful to see individual policy information. The sources describe several detailed formats, including “Detail (Percent of Commission),” “Detail (Percent of Premium),” and others. Choose the one that best suits your understanding and reporting needs.
2. Apply Other Filters (Optional): You can further refine your report by using other filters, such as specific agents, carriers, or policy types, if you want to narrow down your focus even more.
3. Show Report: Once you’ve set your effective date range and chosen your format, click the button (often labeled Show Report) to generate the ACE report.

Understanding Your Results:

The generated report will now display the commissions earned by your agents on policies that have an effective date within the date range you specified. This allows you to see:

• Which agents have written new business during that period.
• The types of policies they are writing.
• The potential commission generated from these new policies.

By regularly running this report filtered by effective date, you can gain a much clearer picture of your agency’s recent growth and the agents driving that success. It’s a simple yet powerful way to move beyond just tracking payments and start understanding the flow of new business into your agency.

Experiment with different effective date ranges and report formats to uncover the insights that are most valuable to you. Happy tracking!