Carrier commission statement
Also called: commission statement, carrier statement, comp statement
A carrier commission statement is the report an insurance carrier sends with each commission payment, listing the policies paid, the amounts and any adjustments or chargebacks.
Every carrier formats its statement differently, and they arrive on different schedules, which makes it hard to see the whole picture across carriers.
The statement is the carrier's view of what it owes. Whether it matches what the agency expected is a separate question, answered by reconciliation.
Statements are the raw material for every commission report, payout and reconciliation the agency produces.
"Each carrier commission statement arrives in a different format, so we combine them before reconciling."
How do you combine commission statements from multiple carriers?
Map each carrier's columns to one common format (policy, client, agent, product, premium, commission, adjustment), import every statement into it, and match lines to policies before reconciling.