Commission Payments Going Paperless

October 3, 2018

The Standard is in the midst of a multi-year project to increase electronic processes and digitize records across the company. There are many reasons to go paperless. It will improve the customer experience, be more efficient and increase information security.

Next up for the paperless project are commission statements and payments. Our goal is to have all commission statements and payments issued electronically by the end of the year. We’ll start with new producers.

Starting this week, we’ll no longer offer paper commission statements and checks to new producers. Instead, all new producers must set up Electronic Funds Transfer (EFT) at the point of contracting.

In addition to providing EFT information, all new producers must also submit a voided check or a letter from their bank with direct deposit information. Please note: we'll place contracting on hold until this information is provided.

We’ll email producers their commission statements in PDF format on each pay date. They can also download their commission statements in Microsoft Excel or CSV format on standard.com.

If you have any questions about paperless commission statements, please contact Producer Services.

 

Categories
Operations and Underwriting