Glossary
Agency Management System
The core software an insurance agency runs on, holding clients, policies, documents, activities, and often accounting.
An AMS is the operational system of record: who the clients are, what policies they hold, what was said and when, and which documents exist. Everything else in an agency's technology stack tends to orbit it.
AMS platforms vary widely in how well they handle commission reconciliation specifically. Many track expected commission adequately but offer little for ingesting carrier statements and comparing them line by line, which is why reconciliation so often ends up in spreadsheets alongside an otherwise capable system.
See also
- General Ledger — The central accounting record holding every financial transaction of a business, organised by account.
- IVANS — The industry network that moves policy data, commission statements, and documents electronically between carriers and ag…
- Commission Reconciliation — The process of verifying that the commission a carrier actually paid matches what the agency was contractually owed, lin…