Glossary
Commission Statement
A document from a carrier showing the commissions earned by an agency on policies sold, including premium amounts, commission rates, and net amounts owed.
Commission statements are the carrier's official record of what they owe the agency. They list every policy on which commission was earned during the period, the premium amount, the commission rate, and the resulting commission dollars.
Statements arrive in a wide variety of formats: PDF, CSV, Excel, and increasingly via secure file transfer or web portal download. Many small carriers still mail paper statements. This format diversity is the main reason reconciliation is so labor-intensive — every carrier has its own layout, column names, and quirks.
Modern reconciliation platforms use OCR and column-mapping engines to normalize commission statements into a consistent structure, then reconcile each line against the agency's policy data.
See also
- Premium Reconciliation — The process of matching the premiums collected by an insurance agency to the deposits and commission statements received…
- Producer Split — The percentage of an agency's commission that is shared with the producer who wrote the policy. Splits often vary by lin…