In addition to paying the MGA/Wholesaler or Carrier for financed, agency bill programs, Ascend now offers carrier payables for paid in full, agency bill programs.

This means that regardless of how your customer chooses to pay for their policy: whether Financed or Paid in Full, Ascend willmanage the funding process to the MGA/Wholesaler or carrier.

Ascend will separate the agency payout (commission + agency fee) from the gross premium (premium, taxes, policy + broker fees, etc.), and send your agency only what your agency is owed and fund the remainder to the carrier.

Your team will approve payouts with the click-of-a-button; further simplifying your current agency billing process.

Whether financed or paid-in-full, your agency will only receive the commission and agency fees for each program--and no funds that need to be paid out to another organization.

When a customer pays-in-full for their program, the agency must approve the payout and funding details before Ascend issues funds for the policy to the necessary party (MGA or carrier).

Payouts pending approval are located in the Accounting tab, accessible on the top left corner of the Ascend Dashboard.

1. Navigate to the Pending approval tab of the Accounting dashboard view

   

2. Review the REQUIRED details:

   1. Add a policy number, if not already entered (required field)

   2. Add a payment method if not already entered (required field)

      

3. Review the PAYEE section for funding details:

   1. The accurate entity to be funded for the policy (MGA/wholesaler or carrier)

   2. The correct amounts to be funded to each party (agency and MGA)

4. Once all details are confirmed to be accurate, click the Approve button on the payout to initiate the funding process. See FAQ below for funding timeline notes.

Once the insured's payment is received, the payout MUST be approved in order for funding to be released by Ascend. Once approved, funding will go out to the listed Payee...

• ... on the effective date of the policy if the insured's payment is received BEFORE the policy's effective date, OR

• ... the day the payout is approved by your agency if the insured's payment is received AFTER the policy's effective date

If you are unable to approve a payout, it means there is a required field that needs to be updated before approval is allowed. The required details include:

• Policy Number - the policy number is sent with remittance details to assist the Payee MGA or carrier with correctly attributing the funds to the insured's policy.

Please note that entering an incorrect policy number or a "place holder" could cause funding issues or delays.

Agency commission can be updated during the payout approval process by clicking on the pencil icon next to the listed Agency commission field. The agency payout in the PAYEE section will update according to the new commission update.

To update the quote details (premium, taxes, fees), click the Edit policy button on the bottom right corner of the relevant payout. Update the necessary fields on the following window.

If more funds are required from the insured, a payment link will be generated to share with the insured for payment.

The agency payout amount includes the commission and any agency fee listed on the quote details.

Agency payouts are initiated within 24 hours of the payout being approved and will be paid to your agency's Operational account.

If the billing amount has changed at bind, you can make corrections by selecting "Edit Policy", this will allow you to correct the policy details and if required either a collectible or refund will be issued to your client for the difference in billing amounts.

When the premium amounts are sent to the MGA/wholesaler or carrier, we also provide remittance advice, typically to an agreed email address provided by the target organization.

Payouts can be tracked in a few places:

Program Page

In the Accounting section of the Program Page, a record of each payout for that program is provided, along with Status, Method, Amount, and Cleared Date.

Accounting Page

Admin and Accountant Users can access the entire accounting tab, with views for each payment type and filters to refine your search and the ability to export data.

Admins have the ability to automate payables to MGA/Wholesaler or Carrier accounts.

This can be accessed from configurations section for each supplier in the suppliers settings menu

If you have any additional questions, please reach out to the Ascend Support Team at support@useascend.com. We're here to help!