Commission Caps
A plain-English definition from the DeployIT insurance technology glossary.
In short: IRDAI-prescribed limits on commission payable by line of business and channel; platforms must validate payouts against them.
Related terms
- Clawback
- Recovery of previously paid commission when a policy lapses, is cancelled or free-looked within a defined period.
- Commission Reconciliation
- Matching expected commissions against insurer statements and resolving mismatches.
See it in practice
See this concept working in software
DeployIT puts quoting, issuance, renewals, claims and commissions on one platform built for Indian insurance distribution.