What Is Production Credit in Insurance Sales?
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Production credit is the record of which producer wrote a sale.
What it is
Commission, goal pace and rankings all count from it. If the credit is wrong, all three are wrong for two people: the one who lost the sale and the one who gained it.
Example. Jane writes a $1,200 auto policy, but it is credited to Sam. Jane's premium this month is $1,200 short, her goal pace drops, and her commission on it goes to Sam.
Shared credit
When two producers work one sale, some agencies split the credit, such as 70% to the one who closed it and 30% to the one who found it. Agree the shares before the sale, in writing.
Producify can split a sale between two producers, half each. Each one is credited half the policy and half the premium, and each is paid on their own plan. Otherwise a sale belongs to the person named in its Written By column. See Split a sale between two producers.
How Producify works it out
In Producify, open Sales, choose Sales Log, click the pencil at the end of the sale's row and choose the right person under Written By.
After each edit, pay is worked out again from the sales log, so the next run uses the corrected sale. A sale already paid in a Pay Team run is locked. See Fix a sale on the wrong person.
Frequently Asked Questions
What if a producer leaves and their customers need a new producer?
Leave the credit for past sales with the producer who wrote them. Renewals from here on can go to whoever takes over.
Does production credit affect commission?
Yes. Commission is worked out from who has the credit, so wrong credit means wrong pay.
What happens if a sale has no producer credit?
Agencies often call it house business: no producer is paid on it. In Producify, a sale whose name matches nobody on your team is on nobody's production, and nobody is paid for it, until the name is mapped.
Get every sale on the right producer
In Producify, you map a name from your sales file to a team member once: the spelling is saved, so later uploads that use it go to the same person.
Producify is commission tracking software for independent and captive insurance agencies.