Case Study: Insurance Pro Agencies

 

InsurancePro

The Experience

Controller Adam O’Reilly described creating the Insurance Pro Agencies business model as follows, “We listened to agency owners across the country and created a contract to reflect what agents want. Providing a real opportunity for financial success and allowing the agency owner to maintain their independence are two of the cornerstones that we built our model around.”

Once established in the marketplace, Insurance Pro Agencies grew rapidly. O’Reilly explained how, “Managing commissions became an overwhelming manual process each month.  The process itself was also so complicated that it would be impossible for someone else to step in and take over if needed”. With such a large complex system to work through, mistakes were inevitable. Adam O’Reilly knew that either an error or late payment would crush his business plan. He stated, “The fastest way to lose agents is to not pay them accurately, so our entire business depends on paying commissions accurately and on time, every single month.”

CellarStone agreed to become Insurance Pro Agencies’ commission management department. CellarStone retrieves all the insurance carrier statements from the network of insurance providers and imports the information into QCommission using the company’s QXchange.com technology. QCommission quickly calculates the commission for approval by Insurance Pro Agencies. Once the statements are approved, they are either emailed to the reps or available through the QCommission web portal.  Most importantly, reps are paid quickly, accurately and enjoy full transaction visibility. In addition, CellarStone completely took the headache of commission processing off the company’s shoulders giving Insurance Pro Agencies the time to focus on their other business drivers.

 Reasons to out-source commission management are:

  • Save time and effort
  • Increase data accuracy rate
  • Advanced technology available versus doing internally
  • CellarStone has agreements with insurance company service bureaus to allow special access to harvest data using advanced scan and export utilities
  • More time for analyzing and acting on key metrics

With CellarStone managing the commissions, O’Reilly discussed the positive feedback Insurance Pro Agencies received, “The biggest difference from the agent’s perspective is the amount of detail that we are able to provide on the new commission statements.  The QCommission statements are literally a spitting image of the actual insurance carrier statements line by line. The option to have CellarStone handle the actual processing of the carrier files was very attractive. It allows me to work ‘on’ the business, rather than being stuck working ‘in’ the business.”

Going forward the goal of Insurance Pro Agencies, “was to find a way to continue to grow revenues without having to continue to add staff. CellarStone is going to allow us to attain that model.”

About Insurance Pro Agencies

Insurance Pro Agencies is the fastest growing agency network in the industry with affiliate agencies located throughout the United States. They offer qualified agents the opportunity to own and operate an independent insurance agency and get directly appointed with dozens of excellent big name insurance companies. Insurance Pro Agencies have a “turn-key” program that can have you up and running within 30 days.

As a network of independent reps, Insurance Pro Agencies struggled with the problem of manage commission processing. With the large volume of agents, processing and completing compensation properly for each agency grew overwhelming. Agents receive commission statements with transactions in every form imaginable Excel, PDF, and fax. Managing all the different media platforms for statements made calculating commissions seem endless. Insurance Pro Agencies needed an automated process to eliminate inefficiencies with their commission system.

About CellarStone

CellarStone provides a suite of different software solutions and services for customized commission calculating. CellarStone’s suite includes powerful and easy to use software QXchange and QCommission. QXchange provides integration expertise with custom developed software based on customer requirements. QCommission is a powerful, flexible sales commission software that calculates commission accurately by eliminating errors related to spreadsheets and manual methods.  When used in harmony as a virtual accounting department, the best and fastest results are produced.

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Heather Peterson

Heather Peterson

Marketing Assistant at Cellarstone
Heather is a PR Specialist for marketing and her specialties include copywriting and writing press releases and blog articles. She also publishes newsletters and email campaigns.
Heather Peterson

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