Commission Audit

A commission audit is a review process that examines the accuracy and compliance of commission calculations and payments. It ensures that commissions are calculated correctly, paid on time, and align with contractual agreements and legal requirements. The audit investigates discrepancies, resolves disputes, evaluates the commission process, and provides recommendations for improvement.

Commission Audit

A commission audit is a review process that examines the accuracy and compliance of commission calculations and payments. It ensures that commissions are calculated correctly, paid on time, and align with contractual agreements and legal requirements. The audit investigates discrepancies, resolves disputes, evaluates the commission process, and provides recommendations for improvement.

Our Services

Go InsureTech’s Commission Audit services ensure accuracy and compliance in your commission records. With our audit services, you can gain confidence in the integrity of your commission calculations, enhance transparency, and optimize your commission processes for maximum efficiency and revenue generation.
Perform a thorough review of premium and commission estimates within the agency management system by cross-referencing them with posting records. Carefully investigate any discrepancies or instances of incorrectly allocated revenue. Generate and examine reports to ensure the accuracy of the data.
Involves examining the accuracy of commission calculations, ensuring the appropriate application of commission rates and formulas, and verifying the payments made to eligible individuals. This entails reviewing commission policies, contractual agreements, and supporting documentation, while also testing a sample of commission payments against the calculated amounts to ensure accuracy, timeliness, and proper authorization.
Reviewing the accuracy and completeness of commission-related financial reporting and disclosures. This includes ensuring that commissions are properly recorded, disclosed in financial statements, and comply with accounting standards and regulations.
Identifying opportunities to enhance the efficiency, effectiveness, and accuracy of commission-related processes. This may involve recommending process enhancements, automation solutions, or the implementation of software systems to streamline commission calculations and payments.

Benefits of Choosing Go InsureTech for Commission Audit

01.

Compliance
Assurance

By conducting a thorough audit, we provide assurance that your commission calculations and payments align with contractual agreements, carrier obligations, and regulatory requirements.

02.

Maximizing Revenue
Recovery

Unpaid or lost commissions can significantly impact your profitability. By maximizing revenue recovery, we help you recoup lost earnings and ensure that you receive the full compensation you deserve.

03.

Process Optimization and Recommendations

A commission audit not only identifies discrepancies but also highlights areas for process improvement. By implementing these recommendations, you can improve operational effectiveness, reduce errors, and create a more streamlined commission management system.

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