Commission reports

BriteCore offers out-of-the-box commission reports; see Table 1. Reports are accessed in the Reports module. Agent Commission reports can also be accessed from the Pending Commission Payments screen.

Table 1: Commission reports.

Agent Commission report

The Agent Commission report generates automatically at the beginning of each calendar month. You can also run this report manually from the Reports module. To ensure the report is accurate when run manually, it’s best to run the report at or after the end of the month.

The Agent Commission Report contains the following sections:

  • Policies by Agent Producer
  • Totals by Agency Group
  • Totals by Agency
  • Totals by Policy Type
  • Total Commission

To manually run the Agent Commission Report:

  1. Navigate to Reports > Report List.
  2. Under the Agency category, select Agent Commission. The Agent Commission dialog box will open.
  3. In the Start Date and End Date boxes, type the date range or use the date picker to select the date range you want to run the report for.

    Note: To ensure the report is accurate when run manually, the date range you select should be one calendar month, where the Start Date is the first of the month and the End Date is the last date of the month.

  4. Select Run Report.

The report can be emailed or downloaded. To access the Agent Commission report, do one of the following:

  • Navigate to Policies > Payments > Pending Commission Payment > Agent Commission Reports and select the magnifying glass of the report you want to view.
  • Navigate to Reports > Attachments and open the Agent Commission folder. Select the Agent Commission file with the date range you want to view.

Agency Experience report

The Agency Experience report runs automatically at month-end and groups all premium data and claims data together by the agency and per line of business. The data will be released in a .zip file that contains the following documents:

  • One PDF report per agency.
  • Audit reports, which are .csv files that contain Agency Experience data at a granular level. The following audit reports are generated:
    • Canceled Policies
    • Claim Payments
    • Claim Totals
    • Difference in Written Premium
    • Endorsement Policies
    • Inforce
    • Loss Reserves Beginning
    • Loss Reserves Ending
    • Losses Incurred
    • Net Transactions
    • New Policies
    • Reinstated Policies
    • Renewal Policies.
  • One Company Report PDF per carrier that totals and summarizes the data within the agency reports.

To manually run the Agency Experience report:

  1. Navigate to Reports > Report List.
  2. Under Agency, select Agency Experience. The Agency Experience dialog box will open.
  3. In the Start Date and End Date boxes, type the date range or use the date picker to select the date range you want to run the report for.

    Note: To ensure the most accurate results, the date range you select should be one calendar month, where the Start Date is the first of the month and the End Date is the last date of the month.

  4. Select Run Report.

You can access the Agency Experience report file by navigating to Reports > Attachments and selecting the folder titled Month-End.

Loss Ratio calculation

The Agency Experience report supports the calculation of Loss Ratio per agency and per company through a variety of calculations. By default, the Loss Ratio is calculated using the NAIC’s standard calculation:

(Losses Incurred) – (Salvage + Subrogation) / Earned Premium.

Additional calculations take into account Loss Adjusting Expenses (LAE), LAE Incurred, LAE Payments, LAE Reserves, Ending Payments, and Written Premium. The following Loss Ratio calculations are also available:

  • (Losses Incurred) – (Salvage + Subrogation) / Earned Premium.
  • (Losses Incurred + LAE) – (Salvage + Subrogation) / Earned Premium.
  • (Losses Incurred) – (Salvage + Subrogation) / Written Premium.
  • (Losses Incurred + LAE Incurred) – (Salvage + Subrogation) / Written Premium.
  • (Losses Incurred + LAE Payments + Ending Losses + LAE Reserves) / Earned Premium.
  • (Losses Incurred + LAE Payments + Ending Losses + LAE Reserves) / Written Premium.

To use a different Loss Ratio calculation, contact your BriteCore support team.

Considerations

The Agency Experience report won’t balance with the Claim Payments report due to the Losses Paid calculation. The Losses Paid calculation, Losses Paid – Salvage Subrogation, is necessary to calculate an accurate Loss Ratio.

Agency Experience Paid Premium

The Agency Experience Paid Premium report is similar to the Agency Experience report, with a few differences:

  • The Loss Ratio is based on the Paid Premium rather than the Written Premium.
  • The report includes Paid Losses but excludes adjusting and legal payments.
  • The report contains an extra column for LAE which is calculated with the following equation: LAE = (Constant) x (Losses Paid).

    Note: Losses Paid refers to Net Losses Paid, which is calculated by Losses Paid – Salvage – Subrogation.

  • The report contains an extra column for Operating Expenses (OPEX), which is calculated with the following equation: OPEX = (Constant) x (Paid Premium).

The Agency Experience Paid Premium report is a YTD report. To run this report manually, you only need to type the end date of the report, instead of typing a date range. To run the Agency Experience Paid Premium Report:

  1. Navigate to Reports > Report List.
  2. Under Agency, select Agency Experience Paid Premium. The Agency Experience Paid Premium dialog box will open.
  3. In the Date box, type the run date or use the date picker to select the run date for the report. The run date is the date the report is generated and it will display YTD information up to the selected date.

    Note: When selecting a date to run the Agency Experience Paid Premium report, it is recommended that you select the last day of the month.

  4. Select Run Report.

Considerations

The Agency Experience Paid Premium Report is not available in the UI for all clients. For more information about this report, please contact your BriteCore support team.

The LAE and OPEX multiplier can be updated, if necessary. A single rate is used in each case for all agencies and lines of business.

Agency Group Experience report

The Agency Group Experience report is similar to the Agency Experience report. Like the Agency Experience report, the Agency Group Experience report is a .zip file that contains the Agency Group Experience report PDF, the Company report PDF, and the audit reports. While the Agency Group Experience report contains the same sections as the Agency Experience report, there are differences between the two reports, such as:

  • The Agency Group Experience report is grouped by Agency Group rather than by Agency.
  • This report contains figures from the same month in the previous year and adds a column to display the percentage of change from the previous year to the current year.
  • The audit reports are compiled into one .xlsx spreadsheet rather than 13 separate .csv files.
  • This is a YTD report, so you only need to select the end date to run the report.

To run the Agency Group Experience report:

  1. Navigate to Reports > Reports List.
  2. Under Agency, select Agency Group Experience. The Agency Group Experience dialog box will open.
  3. In the Date box, type the run date or use the date picker to select the run date for the report. The run date is the date the report is generated and it is also the end date for the report, so the report will display YTD information up to the selected date.
  4. Select Run Report.

Considerations

The Agency Group Experience report can be generated for any client, although it won’t appear on the UI in the Reports module for all clients. If you want to generate this report, but can’t locate the Agency Group Experience report, contact your BriteCore Support team.

The Agency Group Experience report can be generated for carriers without Agency Groups. If a carrier without an Agency Group chooses to run this report, then the information will be grouped together and labeled as No Agency Group.