RiskMatch insights: Potential Enhanced Revenue Report

November 7, 2019 /

By: Patrick Barnes, Customer Support Analyst

Have you ever tried to troubleshoot a minor problem or set up a new feature without needing to contact Support? We strive to provide you with the tools you need to get up and running quickly, without spending time on the phone. For helpful RiskMatch tips and articles that provide quick and easy workflows, check out MyVertafore.

There are many ways RiskMatch provides insights to help you identify your agency’s growth trends. The Potential Enhanced Revenue Report shows the potential commission increase for each of your policies compared to the RiskMatch Market Average. Users with Manager access will be able to generate the report for all the regions they access while Producers will be able to generate the report for their entire book of business.

To access the report:

  1. Click Menu and select Reports.

  2. Click on the Potential Enhanced Revenue Report and select your regions, products and a date range.

  3. Click Build Report to generate the Excel output.

  4. Tip: make sure pop-ups are enabled for the RiskMatch site. Sometimes a report will not generate because pop-up blocker is preventing download.

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Once downloaded, the spreadsheet will show both written and billed policy data. Choose to sort your policy list by either largest potential percentage increase or largest potential increase by nominal dollar amount.

Column V shows the current commission you’re receiving for a given policy while column W shows the RiskMatch Market Average Commission for the same product and industry. Both columns will be highlighted in either green or red depending on whether the policy is receiving above or below average commission. Column X shows the sample size of market data for a given product and industry while column Y shows the nominal dollar amount for potential increase. The total potential commission increase from your book will be aggregated in the top right-hand corner of the table.

We hope these simple steps will help drive productivity in your business by giving you the ability to troubleshoot minor errors that may arise and set up new features with minimal time and effort. We are dedicated to delivering results you can see and helping you achieve your business goals. Please reach out to us through MyVertafore if you have any further problems or issues.