Street commissions: Generally, paid directly to writing agents by Carrier or to the company the writing agent has assigned their commissions to.
Override Commissions: Most national carriers pay agencies directly, while others pay the FMO, which distributes commissions to sub-agencies.
When are commissions paid by carriers?
Street commissions - With few exceptions, carriers typically pay within the month after the plan’s effective date.
Override commissions - There’s more variation here. Some carriers will pay by the submit date, others by the effective date.
When does Spark pay commissions?
Spark cannot pay overrides until Spark receives commissions/statements from the carrier.
Commission payments to the agency may be delayed if Spark is awaiting commission payments or commission statements from the carriers.
Typically, for carriers where Spark pays overrides, Spark processes commission payments to agencies and agents within five business days of the end of each month.
Where can I access my commission statements?
For carriers where Spark pays directly, you can access the street and override commission statements on Spark's platform in the Agency View. You can find a walkthrough to access them here.
For carriers that pay directly, you can access statements on their individual portals.
Tipalti
Spark uses a system called Tipalti to share commission statements and make payments.
Note: Tipalti access will be granted when Spark is able to pay an agent/agency their first commission payment, typically within a month after the effective date of the first plan written under Spark. Use this walkthrough to complete your setup after receiving access.
Marketing Co-Op
Only agencies with co-op marketing agreements are eligible to receive co-op reimbursements.
Follow this walkthrough to view your co-op balances, statements, and reimbursement portal.
To understand how your co-op is calculated, please refer to this walkthrough.
How to share access
Agency Principals can share access to their agency finances using the User Management feature.