Colorado-based insurance broker, Associates Insurance Group has specialized in workers’ compensation for over 20 years. Currently the largest workers’ compensation broker in the state of Colorado, Associates Insurance Group is an industry-leader in this often-overlooked subset of insurance. From customizing policy structure, providing robust safety resources, and having an in-house medical claims division, Associates Insurance Group boasts a wrap-around approach to workers’ compensation for their clients. As testament to their success, Associates Insurance Group has been recognized as the top broker for Pinnacle for over six years in a row.
As anyone handling commission payments for insurance agents knows, there are many moving pieces to track and manage. This was certainly the case for George Diver, Chief Operating Officer at Associates Insurance Group, whose firm has grown substantially in the past few years. While a custom-built Excel workbook helped simplify his commission processes somewhat, he was still left to calculate all of the payments completely manually – a tedious and time-consuming task that took at least five full days every month.
Here’s some of the challenges that Associates Insurance Group was facing:
- Converting PDF statements from multiple carriers
- Various commission payout structures
- Chargebacks that could go back over a year
- Policies that may be paid out over several months
- Different commission rates for policy renewals
Core Commissions is no stranger to the challenges that Associates Insurance Group was facing. In fact, Core helps customers every day with similar problems. After seeing the in-depth capabilities that Core provided, it was apparent that Core checked all of the boxes for their business. With the help of Core, George reduced his time spent processing commission payments by nearly 80%. Once his carrier statements have been input into the system, the rest of the process is entirely automated.
“Core is an incredible asset, especially for anyone that pays out commissions to multiple employees.”
“It’s a huge time-saver because not only does it track everything, it gives each employee access to view their pay statements, which helps eliminate questions from employees,” said George.
In addition to automating commission payments calculations, George has found that Core is extremely helpful in keeping tabs on his carriers. When working with multiple carriers, it can be difficult to track which carriers have failed to submit payments.
“You can’t rely on carriers to get it right,” said George. Instead, he utilizes Core’s reporting features to make sure that his carrier payments are accurate and have all the information needed to be processed.
As Core began launching CoreBot, their new AI-powered tool, George was selected as one of the first customers to begin using this technology. Because George only processes commissions monthly, he has found CoreBot to be incredibly useful in providing step-by-step guidance on how to perform specific functions.
“CoreBot has been great because I don’t use the system every day,” said George.
“I can just ask CoreBot what I’m thinking and it gets me going in the right direction.”
Associates Insurance Group has grown considerably and they are grateful to have Core to scale with them. The level of automation that Core provides has completely transformed the way they process commissions. By saving time on menial tasks like commission management, George is able to focus on more meaningful work and help his company continue to grow.