Using commission plans to select currencies for producer codes

In BillingCenter and PolicyCenter, producer codes identify individual producers.

Individual producers earn commissions on the policies they produce. In some cases, producers share the same producer code. PolicyCenter tracks which producer codes produced which policies. BillingCenter tracks commissions earned by each producer code and periodically initiates commission payments. Commissions generally are not paid directly to individual producers. Instead, aggregate commissions are paid to the producer organization, which in turn disburses commission payments to individual producers.

In PolicyCenter, you add commission plans to producer codes. In BillingCenter, you define the commission plans that you can add to producer codes in PolicyCenter.

In BillingCenter, a commission plan can offer multiple currencies. In PolicyCenter, you select the currencies you wish to use from each commission plan. For each producer code, you can associate only one plan per currency. Therefore, if you select USD in commission plan A, you cannot select USD in commission plan B. If a commission plan is in use for that producer code, you cannot change the currency selections. After making changes, PolicyCenter sends the new or updated producer organizations and producer codes to BillingCenter, along with the commission plans and selected currencies.