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ePayPolicy introduces premium finance product

ePayPolicy introduces premium finance product | Insurance coverage Enterprise America

There’s a new means for insurance coverage firms to combine premium financing

ePayPolicy introduces premium finance product

Insurance coverage Information


The next article was offered by ePayPolicy.

ePayPolicy publicizes Finance Join, integrating premium financing with on-line checkout for insurance coverage firms

At present, ePayPolicy introduced the addition of Finance Join to their suite of insurance coverage funds and reconciliation merchandise for insurance coverage firms. Finance Join permits insurance coverage firms to supply premium financing choices – with their present premium finance companions – on the level of on-line fee for his or her insured clients.

“Premium financing is crucial in our {industry} as a result of it provides clients higher fee flexibility with financing choices,” mentioned CEO Mark Engels. “We’re combining the convenience of built-in on-line funds with financing at checkout to assist enhance conversion charges for our clients and get rid of the handbook facets of enrollment in a financing settlement with their companions.”

ePayPolicy has over 6,500 clients within the insurance coverage {industry}, together with Premium Finance Firms (PFCs). Current clients may have early entry, with integrations to their present PFC companions to make sure a seamless expertise for all events concerned.

“As premiums improve, entry to financing turns into extra vital,” mentioned CTO Nish Modi. “Finance Join goes to assist insureds pay quicker and bind insurance policies sooner, serving to each insurance coverage firms and their PFC companions.”

“The financing provide and phrases are offered proper on the web page,” added Modi. “We’ll then leverage our present integrations to streamline funds with AutoPay and fee reminders.”

Finance Join is the newest built-in product for an {industry} in want of higher digital effectivity and automatic back-office operations. ePayPolicy’s founders skilled firsthand the operational pains of verify assortment and handbook reconciliation in insurance coverage, which led to the corporate’s first product – safe, on-line fee pages that had been totally customizable to match the insurance coverage firm’s model.

ePayPolicy not too long ago launched CheckMate, an automatic verify acceptance and reconciliation answer that makes use of machine studying, and introduced the Payables Join instruments for automating the reconciliation, creation, and fee of market payables.

Finance Join is the subsequent of a number of product releases, with the purpose of continuous to streamline the accounts payable, receivables and disbursement expertise for patrons within the insurance coverage {industry}.

“We wish to be the place our clients go to reconcile their payables and receivables and to tie all of it along with their present accounting options,” mentioned Modi. “We’re constructing an industry-wide community that enables cash and the related knowledge to movement freely by means of the {industry} whereas saving time and offering safety for our clients.”

  • Permits insurance coverage firms to work with their present PFC companions
  • Premium financing choices offered at checkout alongside choice to pay in full by way of ACH or bank card
  • Auto-payment enrollment and fee reminders for enrolled clients
  • Simplified financing enrollment and upfront phrases for insureds
  • Simply generates consolidated premium finance agreements (PFAs)
  • ePayPolicy is built-in with over 90% of the preferred company administration methods, saving time and handbook knowledge entry


About ePayPolicy

ePayPolicy presents simpler fee instruments, constructed only for insurance coverage. ePayPolicy’s merchandise deliver insurance coverage funds in control for businesses, carriers, MGAs and PFCs, with safe on-line fee pages, automated verify processing, payables reconciliation and extra. 6,500+ insurance coverage firms belief ePayPolicy and their professional, stay help workforce to deal with their funds day by day. Be taught extra:

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