Broker Dashboard: Net Revenue Tracker solves one of the insurance industry’s ongoing challenges for insurance brokers
- Most brokers receive their commissions directly from the insurance carrier but are they getting paid accurately?
- Cancellations, missed renewals, and manual commission reconciliation drain time and income.
- The DBL Center developed Net Revenue Tracker (NRT), a broker dashboard designed to give brokers clear visibility into cancellations, commissions, and net revenue.
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Many insurance brokers got into the field with their eye on the high earning potential. The sky’s the limit when you’re paid on commission. That hustle culture appealed to hungry go-getters of early decades, when the industry was in its prime. Many brokers and up-and-coming insurance industry executives still feel the same way today.
But the harsh reality is exactly what people imagine of an insurance industry career. While the profit potential is immense, paperwork gets cumbersome quickly.
Chasing down clients for payments is an endless burden. Missed renewals means leaving money on the table. Tracking cancellations takes time away from building new relationships and growing your book of business. Growth depends on revenue visibility.
The First Net Revenue Tracker
Back in the 1970s, The DBL Center founder David Cohen solved the problem of insurance commission management using a paper ledger and a #2 pencil. One of his favorite expressions was, “It’s not what you earn, it’s what you keep.”
His paper-and-pencil ledger made it possible to track commissions, renewals and cancellations when only New York, New Jersey and Hawaii required employers to provide disability benefits.
Today, with more than a dozen states requiring paid family and medical leave, plus a growing array of ancillary benefits that close coverage gaps and support workforce retention, tracking revenue is even more complex.
While most brokers no longer rely on paper ledgers, many are still using tools that weren’t designed for revenue tracking. Excel spreadsheets, generic accounting platforms, and even CRM systems built to track leads rather than commissions can leave gaps in visibility. These systems rarely integrate directly with carrier platforms, increasing the risk of errors and missed income.
Proven Technology, Evolving Platform
In 2019, The DBL Center launched our Broker Dashboard: Net Revenue Tracker to help brokers track renewals, commissions, and cancellations from any internet-enabled device. iOS and Android apps followed.
NRT is a logical extension to David Cohen’s paper ledger and DBL Center President Michael S. Cohen’s creativity and tech-forward thinking.
After getting a degree in film from Boston University, Cohen entered the insurance industry to continue the family business. He left a burgeoning stand-up comedy career and quickly fell in love with the elements of insurance sales that mirror the entertainment industry.
The DBL Center thrives thanks to Cohen’s emphasis on building connections with brokers and carriers, managing a passionate and energetic team, and thinking creatively to evolve, grow, and stay one step ahead of competitors.
When you work with The DBL Center as your wholesale general agency, you’re gaining access to the company’s long-standing carrier relationships, an efficient and knowledgeable back-office staff, plus technology that’s far ahead of its time in the statutory insurance and ancillary benefits space.
Broker Dashboard: NRT, the Next Generation of Tracking for Brokers
Available free and only to brokers who write statutory and ancillary benefits with The DBL Center as their wholesale agency, the latest version of Broker Dashboard: Net Revenue Tracker tracks renewals, commissions and cancellations with push notifications delivered straight to brokers’ inboxes every two weeks. Brokers can also access their dashboard at any time through any internet-enabled device or through the iOS or Android app in The App Store or Google Play.
“The goal is to onboard producers and help them track their P&L while servicing their block of business and day-to-day RFPs in order to generate more revenue toward their bottom line,” Cohen said. “My broker dashboard provides several proprietary reports that give a broker the ability to quickly analyze their new business, commissions history, cancellations, reinstatements, and delinquency reports at the click of a button.”
This is especially crucial for brokers in states who are introducing new statutory benefits. Brokers can help ensure their clients are in compliance in emerging markets. By helping business owners privatize PFML and roll the savings into ancillary benefits, they also increase their book of business.
Net Revenue Tracker provides brokers with centralized visibility into cancellations, commissions, and net revenue performance — all within a single, intuitive dashboard. Instead of relying on manual reconciliation or disconnected systems, brokers can monitor the financial health of their book in real time.
Watch the video above to see how Net Revenue Tracker works — or schedule a demo to learn how it can support your insurance agency’s growth.
