SPIWeb Application for insurance company commission management
Microsoft .NET Framework.
SPI is a browser based application which enables to calculate commissions based on the premium, life company commission percent payout and Life Company fees if applicable. Users are also able to print cheques and accurately pay brokers. These features are available to only authorized users.
Authorized user only needs to run the application on his computer with internet access and then login to his account with his secured login name and password.
There are 7 basic types of payments that can be made in SPI application: Overpayment, Chargeback, Debt, Unmatched, Expenses, Reimbursement for an Expense, and Suspended. The particular interest will track these categories in sorting the money that is sitting in the account, unsettled. The different types described above are used to help identify and sort unsettled money in the Commissions Account.
Depending on the category of the payment, it would be separated or allotted to the particular account which is authorized. The money from payments are tracked and managed through the Commission account, then divided by the respective brokers or dispensed to the Override account. In general, the loans or advances to a broker are typically taken from the Commissions Account, not from the Override account. The Override account tracks the money which needs to be distributed to the partners and those distributed money is for overhead expenses.
There are three different roles for users to use this application
- Normal users
- Super users
- Admin user
The differentiation among the users has been shown while accessing the data. For instance, the admin user has additional rights to access the data. He can check all the normal user accounts and their information and check all the commissions’ amount and other payments etc.
User’s access controls, abilities and their functionalities are totally dependent on the type of role/user that the application has been assigned as a Normal user or Super user or admin user. User depending on his usage/work can choose one of them among these three roles. At any time, there is a chance to add unsettled money to Commissions account.
Calculating commissions and interests manually for insurance brokers and agents has always been a daunting task. The challenge was to manage all payment calculations online for all levels of users in the application.
We created the application with 7 types of payment structures to offer clarity over type of payments to the users. The system also follows a set functionality for the release of payment from specific type of accounts for commissions and interest payouts.
SPI made quite a cumbersome job very easy and manageable in very less time.