v3.21.2
Revenue (Tables)
 9 Months Ended
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregated Revenue
The following table provides disaggregated commissions and fees revenue by major source:
For the Three Months
 Ended September 30,		For the Nine Months
 Ended September 30,
(in thousands)2021202020212020
Direct bill revenue (1)
$58,582 $26,996 $203,302 $77,535 
Agency bill revenue (2)
53,495 28,130 136,271 64,815 
Profit-sharing revenue (3)
8,105 3,535 26,572 11,285 
Policy fee and installment fee revenue (4)
5,146 4,051 14,414 11,086 
Consulting and service fee revenue (5)
5,343 720 16,349 2,228 
Other income (6)
4,885 2,411 11,182 4,321 
Total commissions and fees$135,556 $65,843 $408,090 $171,270 
__________
(1)    Direct bill revenue represents commission revenue earned by facilitating the arrangement between individuals or businesses and Insurance Company Partners by providing insurance placement services to Clients, primarily for private risk management, commercial risk management, employee benefits and Medicare insurance types.
(2)    Agency bill revenue primarily represents commission revenue earned by facilitating the arrangement between individuals or businesses and Insurance Company Partners by providing insurance placement services to Clients. The Company acts as an agent on behalf of the Client for the term of the insurance policy.
(3)    Profit-sharing revenue represents bonus-type revenue that is earned by the Company as a sales incentive provided by certain Insurance Company Partners.
(4)    Policy fee revenue represents revenue earned for acting in the capacity of an MGA on behalf of the Insurance Company Partner and fulfilling certain services including delivery of policy documents, processing payments and other administrative functions. Installment fee revenue represents revenue earned by the Company for providing payment processing services on behalf of the Insurance Company Partner related to policy premiums paid on an installment basis.
(5)    Service fee revenue is earned by receiving negotiated fees in lieu of a commission and consulting revenue is earned by providing specialty insurance consulting.
(6)    Other income consists of Medicare marketing income that is based on agreed-upon cost reimbursement for fulfilling specific targeted marketing campaigns in addition to other fee income and premium financing income generated across all Operating Groups.