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| This feature, or some fields and options described, might not be available depending on your settings, security rights, or platform package. |
Use Company Setup to enter information about Insurance Companies, Brokerage Companies, Finance Companies, and Fee Companies with which you do business.
To set up a new company, go to the Company Center, and click New Company. To edit a company, open the company you want to edit and click Edit Company. Both of these actions take you to the Company form.
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Field Name/ Group |
What is this? |
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Name |
Enter the company name and Short Name.
The same Short Name can be used for an Insurance, Brokerage ,Finance or Fee Company, as long as it is not also used as a Writing Company for the same Parent Company. Example: You can set up ABC for an Insurance Company and ABC for a Brokerage Company, but not ABC twice for the same type of company. |
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Short Name |
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Enter the NAIC code, if available. This code is required for download This code also prints as the company number on the Auto ID card. |
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Underwriting Office |
Choose whether the company is a Producing Office or a Service Center. This selection is used for company upload. |
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Best Rating |
Enter the A.M. Best Rating for this parent company. |
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Type |
The type classification determines how company data is handled by the system. Use the following chart to determine the appropriate selection for each company added:
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Select the matching criteria to use in the Direct Bill Commission Statement (deluxe) Auto Match process by company, to compare an AMS360 transaction to ones received in statement download. Select the appropriate combination of matching criteria for this company. The selected criteria defaults to the Direct Bill Commission Statement form, Compare Transactions Received in Statement Download section for this company: Neither the Customer Name nor the Policy can be changed. They are automatically checked. Without first matching the customer name and then the policy, no other matches can be made since these two matching criteria are the first two levels of any transaction.
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Stop Loss Carrier |
Checking this box designates this parent company as a Stop Loss Carrier |
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Inactive |
If this box is checked, the company is flagged as Inactive. Inactive companies do not appear in the list of available companies for assignment to new policies. |
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Company Utility |
Clicking Company Utility opens the Company Utility form for the current company opened in Company Setup. This is a conversion process that establishes correct linkages between Parent and Writing companies on AMS360. |
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State Specific Co. Requirements |
Clicking State Specific Co. Requirements opens the State Specific Company Information form for the current company opened in Company Setup. Use this to collect DMV Insurance Company Numbers as well as a Medical Notification Name & Address by Carrier and State. |
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Define an image to display in the Company Center |
For more information on adding a graphic image to the Company Center for this company see Image Display. |
Click New to begin adding addresses for the company:
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Field Name/Group |
What is this? |
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Description |
Enter a description that identifies the address being entered (Main Office, Agency Accounting, Claims). This is a required field. |
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Address |
Complete the address, phone, and fax information, including punctuation, as you want it to appear for the address being entered. |
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Address Defaults |
You can select one address to default for Checks, Forms, and the company Center Display in the search results list. Alternately, you can enter three separate addresses, one for Checks, another for Forms, and a third for Center Display. At least one address must be entered where the Address Default is set to Checks Remember, only a few ACORD forms support a full company address. If the address defaults into a form or check incorrectly, you can change it before saving and printing. |
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24-hour Claim |
If there is a 24-hour claim telephone number for this address, enter it here. It displays in the center view screen. This number pre-fills to the Auto-Id card only when you choose the company as the card issuer. |
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Enter a company email address.
Use the link to initiate an email message. |
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Web address |
Enter the company's web address. This address appears as a link below the company's name and address in the center view. Use the link to open the company's web page. |
Setting these options correctly for your companies is EXTREMELY important! You first encountered these options in the Default Company Settings section of Agency Setup, where they were set for the agency as a whole.
In the Billing Options section of Company setup, you need to make the decision to accept the agency defaults, or change the settings to conform with the way you do business with this particular company.
Vertafore recommends you read the topics Choosing a Direct Bill Invoicing Method - An Overview and Choosing an Agency Bill Invoicing Method - An Overview as prerequisites to reading this section of Company Setup.
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Groups/Fields |
What is this? |
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Line of Business |
Set up company unique billing options for your Agency Bill and Direct Bill business for specific lines of business and/or all lines of business. For downloaded policy transactions, single transaction import, or manually entered premiums, AMS 360 looks for a billing option match in the order given below: |
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Agency Bill |
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Select this option, if you want to Customer Center Bill downloaded policy transactions. |
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Select this option, if you want to Customer Center Bill manually entered premiums.
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Direct Bill |
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Customer Center |
Select this option if you want to Customer Center bill your direct bill business. Then choose the appropriate premium billing option.
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Direct Bill Statement (Deluxe) |
Choose this option if you want to bill your direct bill business by Direct Bill Statement. See a synopsis of this feature below:
Choose the Direct Bill Statement (Deluxe) option and then choose the appropriate premium billing option.
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Direct Bill Entry |
Choose this option if you want to bill your direct bill business by Direct BillEntry. See a synopsis of this feature below:Choose the appropriate premium billing option.
Choose the Direct Bill Entry option and then choose the appropriate premium billing option.
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Receipt Check from Company (basic policy information not necessary) |
Choose this option if you only want to receipt the direct bill check from the company, without billing it. Then choose the appropriate premium billing option.
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What threshold amount would you like to use for direct bill reconciliation? |
This threshold pertains only to the Direct Bill Statement option above, when choosing how you want to invoice your direct bill transactions. This is a premium threshold, set by line of business (all or specific). When an amount is specified it determines when a policy transaction in the Direct Bill Statement Billed section of the Direct Bill Commission Statement is considered fully reconciled.
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Depending on the type of download, you may occasionally have to reset this option prior to a company download.
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Use this section to assign one or more plans created in Company Plan Setup to this company. A Plan must be assigned to a Company before it can be selected in a Policy.
To assign a plan to a company:
Click New on the Plan Assignments section bar. This opens the data entry area.
Select the desired company plan from the Available Company Plans drop-down box.
Click Add.
Repeat steps #1 through #3 until all plans pertaining to this company have been added.
Download companies frequently use plans, check with the company (or their setup documentation) to confirm their use.
The Commission Setup section lets you set up commission defaults by Effective Date. Commissions pull from the latest effective date for the insurance/brokerage company that is less than or equal to the effective date of the policy being billed.
From there, you can setup commissions using the following parameters:
Line of Business
Plan
Transaction
AMS360 then finds the closest commission match for the policy based on the parameter ranking set in Agency Setup.
You can create as many commission setup combinations as necessary for the selected company. If you subsequently receive revised commission schedules it is recommended that you add additional combinations with new effective dates, rather than editing existing commissions.
The first billing for a policy period uses commissions from setup. Subsequent policy billings use the commissions from the most recent billing transaction.
Don't forget to enter a general commission default record that applies to All lines of business, plans, and/or transactions. Consequently, when a specific match is not found, the general commission default applies.
To setup your commission schedule, do the following:
Click New on the Commission Setup section bar. This opens the data entry fields.
Enter the desired effective date for your commission default record.
Select any combination of Line of Business,Plan, and/orTransaction.
Select the Commission Method (% of Premium/Fees or Flat Rate), and the corresponding Percentage Rate or Commission Amount.
Click Add.
To use commissions setup for an existing parent company as a template for the current parent company, click Copy Commissions. This opens the Copy Company Commission form where you can select the parent company and effective date to copy from and the commission rows you wish to copy.
If this parent company has writing companies, you can setup commission defaults by writing company. For more information, see the Writing Company section in this topic.
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What is this? |
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Effective Date |
Select the date the commissions take effect. If you enter an effective date that matches an existing record, you receive a warning that the system cannot copy a duplicate entry. |
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Transaction |
If the parent company is paid different commission based on Type (New Business, Renew Policy or Rewrite) of transaction, choose the transaction here. |
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Line of Business |
If the parent company is paid different commission based on Line of Business (LOB), choose the line of business here. |
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Plan |
If the parent company is paid different commission based on a Plan, select it here. |
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Commission Method |
Use to identify the method for calculating the parent company commission. Based on the Method you select, the corresponding Percent or Amount field becomes active.
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To use commission parameters from an existing company form as a template in creating commissions for this company, click Copy Company Commissions.
This section is only available in Company Setup if your agency is licensed for AMS360 Benefits. In addition, tiered commissions are only available for assignment to policies where Type of Business is set to Benefits.
You can use Tiered Commissions to bill via Direct Bill Entry or Direct Bill Commission Statement. Even though you can bill AMS360 Benefit policies via the Customer Center, (ABI, DBI), Tiered Commissions are not yet available
Use this section to set up tiered commissions for this company:
Expand the Tiered Commissions section and click New.
Enter a Name for the tiered commissions schedule. The name must be unique within this company and is a required field.
Enter a Short Name for the commission schedule. The name must be unique within this company and is a required field.
Enter an Effective Date for the schedule. Policies with an effective date equal to or later than this date can be billed using this schedule. Effective Date is a required field.
Check Monthly if the premium amount for the policy is billed on a monthly basis. If unchecked the premium amount bills in full. The box defaults as checked.
Tab or click into the To field and enter the greatest premium amount to which the first tier commission rate applies. Enter the commission percent corresponding to the premium tier.
Tab out of the Percent field to display the next tier level.
Enter the greatest premium amount to which the second tier commission rate applies. Enter the Percent.
Continue entering tier rows until the maximum premium amount is reached or until 6 tier rows are entered (maximum tier levels available in AMS360).
To enter a schedule containing less than 6 tiers, enter nothing in the To field (field contains the ">" symbol) for the final tier row, enter the percent amount on the row and click Add to accept the schedule.
Expand the Tiered Commissions section, highlight the desired row and click Edit on the menu. The Tiered Commissions schedule displays.
Click in the field to be changed and type the corrected information. Click Update.
If changing a To or Percent value, all subsequent schedule rows must be re-entered before updating.
Expand the Tiered Commissions section.
Highlight the desired row and click Delete on the section menu.
Click Yes on the confirmation window or No to cancel and return to the form.
You cannot delete a tiered commissions schedule for which billings exist.
In this section enter the Writing Companies associated with the selected Parent Company. Reasons for setting up a writing company include:
Proper reporting of the writing company name on forms such as binders and certificates.
Proper defaulting of commissions into billings based on the parent/writing company combination.
Writing companies are required for accurate downloading of policy records from companies that include a writing company as part of the transmitted record.
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Field Name |
What is this? |
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Name |
Enter the name of the writing company |
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Short Name |
Enter a Short Name for the writing company.
The same Short Name can be used for a Writing Company, as long as it is not also used as the same Parent Company. Example: You can set up ABC for an Insurance Company and ABC for a Brokerage Company, but not ABC twice for the same type of company. |
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NAIC |
Enter the writing company's NAIC code. This code is required for download. |
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Stop Loss Carrier |
Checking this box designates this writing company as a Stop Loss Carrier. |
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Inactive |
Use this field to indicate whether a writing company is active or inactive. If a writing company has never been used in a transaction you can delete it. If it has transactions associated with it, inactivate it. This prevents it from appearing in drop-down lists throughout AMS 360. |
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Best Rating |
Enter the A.M. Best Rating for this writing company. |
It is important, when setting up a writing company, to be aware of the following points:
Commission schedules must be set up for a writing company for commissions to pull to a policy billing for that combination of parent/writing company. If no commissions are setup, the agency commission defaults to zero.
Commissions do not default from the parent company if the writing company does not have a commission schedule.
If the parent company is selected as the writing company, commissions default from the parent company commission setup.
The Commission Setup section lets you set up commission defaults by Effective Date. Commissions pull from the latest effective date for the insurance/brokerage writing company that is less than or equal to the effective date of the policy being billed.
From there, you can setup commissions using the following parameters:
Line of Business
Plan
Transaction
AMS360 then finds the closest commission match for the policy based on the parameter ranking set in Agency Setup.
You can create as many commission setup combinations as necessary for the selected writing company. If you subsequently receive revised commission schedules it is recommended that you add additional combinations with new effective dates, rather than editing existing commissions.
The first billing for a policy period uses commissions from setup. Subsequent policy billings use the commissions from the most recent billing transaction.
Don't forget to enter a general commission default record that applies to All lines of business, plans, and/or transactions. Consequently, when a specific match is not found, the general commission default applies.
To use commissions setup for an existing writing company as a template for the current writing company, click Copy Commissions. This opens the Copy Company Commission form where you can select the writing company and effective date to copy from and the commission rows you wish to copy.
To setup your commission schedule, do the following:
Click New on the Commission Setup section bar. This opens the data entry fields.
Enter the desired effective date for your commission default record.
Select any combination of Line of Business,Plan, and/orTransaction.
Select the Commission Method (% of Premium/Fees or Flat Rate), and the corresponding Percentage Rate or Commission Amount.
Click Add.
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Field |
What is this? |
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Effective Date |
Select the date the commissions take effect. |
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Transaction |
If the writing company is paid different commission based on Type (New Business, Renew Policy or Rewrite) of transaction, choose the transaction here. |
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Line of Business |
If the writing company is paid different commission based on Line of Business (LOB), choose the line of business here. |
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Plan |
If the writing company is paid different commission based on a Plan, select it here. |
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Commission Method |
Use to identify the method for calculating the writing company commission. Based on the Method you select, the corresponding Percent or Amount field becomes active.
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To use commission parameters from an existing company form as a template in creating commissions for this company, click Copy Company Commissions.
Click New to add a Master Agent Code for this company.
Enter up to 10 characters in the Master Agency Code field. This code must be unique within a company.
If applicable, add one or more sub agent codes for the master code.
You can delete Master Agent Codes that are no longer required. Deleting a master agent code deletes all attached sub agent codes under the master.
Sub agent codes must be unique within a company. If you need to setup an employee's sub agent code on more than one master agent code within the company, an employee may need to be setup multiple times in the Employee Center to accommodate this need.
To add a Sub Agent Code when creating a Master Agent Code:
After typing in the Master Agent Code, select the Sub Agent Code Setup sub-section.
Click Newon theSub Agent Code Setupsection bar. The data entry form appears.
Select the appropriate employee from the Agent Name drop-down list. This list includes all employees setup in the Employee Center that have the Licensed Agent checkbox, checked in the General section of the Employee form.
Type the desired sub agent code (up to 8 characters).
Click Add.
Click New to continue adding sub agent codes for this master code. When finished, click Add on the Master Agent Code section.
In this section enter the name, address, and phone numbers for individuals associated with the company. See List Setup for information on adding company personnel positions.
Click New on the Personnel section title bar. This opens the data entry form.
Enter the person's name in the Name field (required), and complete the following;
Position
Dept (Department)
DOB (Date of Birth)
Get Company Address - If you select the company description from the list, the company address pre-fills. Or, you can enter the company address for this personnel if it is different than the regular addresses setup for this company in the Address section.
Business phone
Fax number
Cell number
Pager number
Click Add.
Repeat steps #1 through #3 until all company personnel are added.
If you are a large agency with different Employees, Companies, Vendors and Brokers at different locations you have the ability to limit lists based on Employee Business Unit assignment.
Agency Setup has a new Business Unit Setup section for setting up filtering on employee, vendor, company, and broker lists based on business unit.
This feature filters lists only, not security.
Company Unique Question Assignment
Use this section to create Company Unique Questions to gather underwriting and rating about the risk and assign them to specific lines of business. These questions are then included with the application for this insurance company and line of business. Set up the question once, and then use it for multiple companies and lines of business.
Company Unique Question Assignment is available for insurance companies only.
Creating Company Unique Questions
Open the Company Unique Question Assignmentsection.
Click the Question Setup link. This takes you to the User Defined Company Unique Question Setup form. Create the questions for this company.
Assigning Questions to Lines of Business
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Field Name |
What is this? |
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Line of Business |
Select the Line of Business to which you want to attach company unique questions. |
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Title |
Enter the title as you want it to appear on the overflow page where these questions and answers are printed. |
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Field Name |
What is this? |
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Question |
Select the question that you want to attach to this company and line of business. |
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Data Type |
This field is informational only and was set up with the question. It defines the type of data required for the answer to the question (alpha/numeric, date). |
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Length |
This field is informational only and was set up with the question. It defines the number of characters that can be entered for the answer to the question. |
The IVANS codes are required for uploading policy information. Upload uses this code to identify the company edits to apply. Once set up in AMS360, the IVANS codes are available in a list when exporting policy information.
If you upload with this company your carrier will provide the codes for you to enter here.
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Field Name/ Group |
What is this? |
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Code |
Enter the code given to you by your carrier. You can enter multiple codes for the same company, but each code must be unique. You have up to six characters to use for the code. If you enter only one code it displays on the export data entry form when you export policy information. If more than one code exists, you can select the code from a list. |
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Description |
Type a description that appears in the IVANS code list when you export policy information. |
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Hide |
If this box is checked, the IVANS code does not appear in the drop-down list on the AL3 Export form. The default is unchecked. |
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Field Name/ Group |
What is this? |
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Address |
Download Addresses are also called Origination Addresses or Company Machine Addresses. This address is required for download as it identifies the company with which you are downloading. Your company or their set up documentation provides you with this information. You can enter the address or choose one from the list. Each Download Address or Origination Address must be unique. |
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Default for Export |
Select the types of business that you download from this company address. Your choices are Personal, Commercial, or Both. If you assign an address to Both personal and commercial business, no additional addresses can be entered for this company. |
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Group/Field |
What is this? |
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Download Option |
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Upload Option |
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File Transfer Protocol Setup |
Use the following setup for internet certified carriers using FTP download. If you have questions, contact your company for assistance in completing this section.
On File Receipt
File CompressionThis indicator determines how the files are received. Check with the company for the method that they use to compress files. Select one of the following options:
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Retain Lines of Business not sent .. |
These options control how AMS360 handles lines of business not sent in download. Lines of business that exist on a policy, but are not supported by (sent in) download are deleted if these option are not selected.
You may also want to consult with your carrier before making these selections. |
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My Vertafore Support | Vertafore University | NetVU Network | Vertafore.com © 2015 Vertafore, Inc. and its subsidiaries. All Rights Reserved. Vertafore, the Vertafore design, AMS360, Vertafore Producer Advantage, Producer Plus, AgencyEDGE, ReferenceConnect, BenefitPoint, Engage, and WorkSmart are registered trademarks of Vertafore, Inc. or its subsidiaries. Third party marks belong to their respective holders. AMS360 Classic Help updated 5/18/2016 10:58 PM |
