ePayPolicy introduces premium finance product

ePayPolicy declares Finance Connect, integrating premium financing with on-line checkout for insurance coverage firms

Today, ePayPolicy introduced the addition of Finance Connect to their suite of insurance coverage funds and reconciliation merchandise for insurance coverage firms. Finance Connect allows insurance coverage firms to supply premium financing choices – with their current premium finance companions – on the level of on-line cost for his or her insured clients.

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

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

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

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

Finance Connect is the newest built-in product for an {industry} in want of larger digital effectivity and automatic back-office operations. ePayPolicy’s founders skilled firsthand the operational pains of test assortment and guide reconciliation in insurance coverage, which led to the corporate’s first product – safe, on-line cost pages that have been absolutely customizable to match the insurance coverage firm’s model.

ePayPolicy just lately launched CheckMate, an automatic test acceptance and reconciliation answer that makes use of machine studying, and introduced the Payables Connect instruments for automating the reconciliation, creation, and cost of market payables.

Finance Connect is the following 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 need to be the place our clients go to reconcile their payables and receivables and to tie all of it along with their current accounting options,” stated Modi. “We’re constructing an industry-wide community that enables cash and the related information to stream freely via the {industry} whereas saving time and offering safety for our clients.”

• Allows insurance coverage firms to work with their current PFC companions
• Premium financing choices offered at checkout alongside choice to pay in full through ACH or bank card
• Auto-payment enrollment and cost reminders for enrolled clients
• Simplified financing enrollment and upfront phrases for insureds
• Easily generates consolidated premium finance agreements (PFAs)
• ePayPolicy is built-in with over 90% of the most well-liked company administration methods, saving time and guide information entry
  
   

About ePayPolicy

ePayPolicy gives simpler cost instruments, constructed only for insurance coverage. ePayPolicy’s merchandise deliver insurance coverage funds up to the mark for businesses, carriers, MGAs and PFCs, with safe on-line cost pages, automated test processing, payables reconciliation and extra. 6,500+ insurance coverage firms belief ePayPolicy and their skilled, stay help group to deal with their funds on daily basis. Learn extra: ePayPolicy.com