Commissions

Socotra tracks commissions on a per-peril basis. Premium amounts are not inclusive of commissions; these are accounted for separately, and so invoices will not change regardless of commission amounts.

Commissions are calculated in the same liquid file as the premium for each peril
Commissions are stored with the amount and a code for the recipient
Any number of commission line items may be saved onto a given peril
If the policy has a payment schedule, commissions are split and attributed to financial transactions on the individual invoices
Invoice API responses with detailed financial transactions include commissions

Note

Invoice document templates do not have access to commissions (so they aren’t accidentally shown to the insured)

Endorsements

In an endorsement, commissions are recalculated and attributed to periods of coverage

Configuration

Set commissions in the peril pricing calculations using the add_month_commission or add_year_commission liquid filter as show below. Note the lookup to find the broker ID.

Example [peril_name].premium.liquid

{% if data.policy_characteristics.field_values.channel == "Broker" %}
    {% assign broker_id = "brokers" | lookup: data.policy_characteristics.field_values.broker %}
    {{ 100 | add_year_commission: broker_id }}
{% endif %}
...
{{ 1000 | set_year_premium }}