Offering support for state licensing, appointments, and state specific rules for license validation, compliance is assured. License renewal processing is aided by automatic generation of notices to the agent and collection of renewal fees.

AMS is a very flexible contract and hierarchy system that supports simultaneous open contracts and multiple channels for a single agent. The hierarchy is built dynamically as needed, which reduces the maintenance necessary when contracts or reporting relationships change. History of how the hierarchy looked at any point in time is always available. AMS accepts feeds from any number of policy administration systems or external sources. Of course, it is also fully integrated with The Administrator by LIDP. Commissions can be calculated from a feed of commissionable events such as policy submits and premium payments. AMS can also process a feed of pre-calculated commission amounts.

Agency Management Model (larger view)

The AMS commission calculation engine contains the functionality to handle the most complicated commissions. All of this power is controlled by tables that allow specification of commission schedules by agent contract, source system, plan, duration, age, payment source, and many other factors. Support for annualization of commissions is extensive, with options to advance any factor of the annual commissions upon submit or premium payment. Annualized commissions are tracked by policy, earned when premium is applied, and are recovered if the policy terminates.
A table based bonus system supports accumulation of bonus points and payment of supplemental compensation when thresholds are reached. Bonus points can be based on premium, earned commissions, number of cases, writing agent commissions, and several other factors. Bonus payment can be deferred until the next quarter or year.

When an agent has been terminated, vesting options are applied. User configured rules determine how much of the residual commissions will continue to be paid and for how long. The rules can vary for different contracts, agent service duration, and even type of commission.

Disbursement of agent earnings is just as flexible.  Monies can be partially or fully assigned to another agent or agency. Agents can be set to be paid on one of seven payment frequencies ranging from annually to daily. After processing federal withholding, deductions, garnishments, levies, third party payees, loan repayments, and deferred compensation, the remaining earnings can be paid via check or EFT.  Agents can also be paid through the DTCC interface.

All commission activity is viewable via an online statement that follows commission cycle dates. Detail of annualized commissions by policy with the outstanding balance can be reviewed online as well. Additional views of pending policies, commissions by policy, and financial balances are also available. Commission activity can even be exported into a spreadsheet program. Financial accumulations are kept for state and federal tax reporting.

Volume Based Pricing

Volume based pricing makes the most complete agent licensing, contracting, compensation, and reporting system in the industry affordable to all Carriers, Agencies and Brokers.

AMS Features Overview

AMS includes tools to aide in the conversion and migration of agent information and contracts from legacy systems. View a complete list of features offered by the Agency Management System (AMS).