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It's looking like the carrier comp dance has gone to a whole new level.
Carrier X with no back office, no way to track clients in their system, no comp reports to reconcile against....
We've been working with a contact at Carrier X since Jan who has been provided a complete detailed list off all clients and their pertinent info. We have been told verbally and in writing that all clients are attached to the agent/agency. Then when calling to find out why they have received payment from the client and the APTC from the IRS for Jan-March and we've not received comp we're told by this different person with Carrier X that NO Clients are attached to our company / agents.
Further carrier X was instructed that all comp is to be paid to the agency and as of last week we've began receiving very small commission checks addressed to the agent. Now we have to contact carrier X to have them void the payments and reissue to the agency as our original contract stated and what we had been assured was handled with the communication with the original Point Of Contact with Carrier X.
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Now with carrier Y....As we began OE we reached out to this carrier about the fact that we work in 20 states and the need to get our agents NON Res appointed in these other states. I am told directly that due to the overwhelming number of new agents that have signed on or are newly appointed that the way Carrier Y is handling NON Res appointments is that you sell in that state and that would prioritize the agent to getting their appointment sorted out.
Fast forward to last week. In attempting to reconcile comp payments made by this carrier we realized that Carrier Y didn't in fact NON Res appoint the agents as they had told us. Meaning each agent with our agency who had NON Res appointments had not been taken care of but were being resolved now....OK Cool!
Ahh not so much....now new multiple contacts with Carrier Y are stating that due to the fact that the agents were not appointed in that states with Carrier Y but the appointments were now being resolved...NEITHER THE AGENT OR AGENCY will receive comp received by Carrier Y for the months Jan-March, however April moving forward comp should be received for said clients.
We are talking about hundreds payments for these months. Carrier's response has been "looking into the issue"
Glad I'm already bald...something tells me if I had hair I would have ripped it out by now.
Carrier X with no back office, no way to track clients in their system, no comp reports to reconcile against....
We've been working with a contact at Carrier X since Jan who has been provided a complete detailed list off all clients and their pertinent info. We have been told verbally and in writing that all clients are attached to the agent/agency. Then when calling to find out why they have received payment from the client and the APTC from the IRS for Jan-March and we've not received comp we're told by this different person with Carrier X that NO Clients are attached to our company / agents.
Further carrier X was instructed that all comp is to be paid to the agency and as of last week we've began receiving very small commission checks addressed to the agent. Now we have to contact carrier X to have them void the payments and reissue to the agency as our original contract stated and what we had been assured was handled with the communication with the original Point Of Contact with Carrier X.
______________________________________________
Now with carrier Y....As we began OE we reached out to this carrier about the fact that we work in 20 states and the need to get our agents NON Res appointed in these other states. I am told directly that due to the overwhelming number of new agents that have signed on or are newly appointed that the way Carrier Y is handling NON Res appointments is that you sell in that state and that would prioritize the agent to getting their appointment sorted out.
Fast forward to last week. In attempting to reconcile comp payments made by this carrier we realized that Carrier Y didn't in fact NON Res appoint the agents as they had told us. Meaning each agent with our agency who had NON Res appointments had not been taken care of but were being resolved now....OK Cool!
Ahh not so much....now new multiple contacts with Carrier Y are stating that due to the fact that the agents were not appointed in that states with Carrier Y but the appointments were now being resolved...NEITHER THE AGENT OR AGENCY will receive comp received by Carrier Y for the months Jan-March, however April moving forward comp should be received for said clients. We are talking about hundreds payments for these months. Carrier's response has been "looking into the issue"Glad I'm already bald...something tells me if I had hair I would have ripped it out by now.
