Commission Reconciliation
A plain-English definition from the DeployIT insurance technology glossary.
In short: Matching expected commissions against insurer statements and resolving mismatches; automated reconciliation prevents revenue leakage.
Related terms
- Commission Caps
- IRDAI-prescribed limits on commission payable by line of business and channel.
- Clawback
- Recovery of previously paid commission when a policy lapses, is cancelled or free-looked within a defined period.
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.