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Agent Production Library (APL) is a collection of management and accounting tools designed to provide life and health insurance agencies an effective way to manage their sales force. It accurately compiles new business advance commissions and monthly renewal earned commissions as well as the inevitable reversals and chargebacks in an intuitive step-by-step process. APL is an efficient system that handles the day-to-day operations of your agency.
APL has been used successfully by many agencies of different sizes for over ten years. In addition to it's core accounting functionalities, APL also features many add-on modules, which calculate persistency, help you manage your billings, track current and accrued production, organize a marketing contest and much more!
At the heart of your agency are your agents. APL’s Agency Management section easily handles an unlimited hierarchy structure. APL allows you the flexibility to add or remove agents from your hierarchy in quick, easy steps, and rate changes can be completed with just the click of a button. You can even record and track license information!
With each week and month of business, you will see that APL’s General Ledger automatically updates escrow, debit, and Form 1099 balances. A complete history of every transaction is recorded, and in depth reporting gives you an accurate overview of your agency in all areas.
If you have been manually keeping track of debit balances, or using another software system, you can even enter initial Debit Balance, Escrow, and Year to Date 1099 amounts, so that your accounting will balance, ensuring that your transition to APL is smooth and secure.
In the New Business module, newly submitted policies can be entered, and commissions advanced to an entire hierarchy of agents. APL automatically calculates a detailed commission disbursement that conforms to the hierarchy specified, with the manager receiving credits for any hierarchy gaps.
Once the business is entered, a comprehensive statement can be generated for each agent, which lets them know exactly what they are receiving and why, and their checks can be printed directly from APL. A commission audit detail, check register, and ledger are available for internal accounting.
Each month, Renewal processing can be completed to issue or reverse policies, and as-earned commissions can be paid to an agent, or applied to their debit balance, on a per-policy basis. Again, an agent statement can be generated, and internal accounting reports are available.
APL knows that not all policies will be issued, and that some will lapse. That’s why we developed an entire section to handle Chargebacks.
By simply selecting a policy number, APL adds a Chargeback for each agent in the hierarchy for that policy equal to the amount of un-earned commission still outstanding. APL also allows for manual chargeback entries. Chargebacks can then be applied to New Business or Renewal net commission or Escrow balances.
For additional recurring charges, such as lead charges or E&O coverage, there is a Miscellaneous Charges module, in which you can define your own charges, and apply them when you specify.
APL is the most comprehensive agency management system packed into small and friendly software. See it for yourself. Call today, 800-889-9354 for more information or a free on-line demonstration.
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