Getting Started with Finance Connect - ePayPolicy
Finance Connect by ePayPolicy enables insurance agencies, MGAs, and carriers to integrate their existing Premium Finance Company partners into their payment pages, allowing insureds to finance premiums seamlessly with digital agreements, AutoPay options, and real-time transaction tracking, thereby streamlining the payment and binding process through a paperless, faster, and more transparent checkout experience.
Finance Connect is an integrated solution that allows insurance organizations (Agencies, MGAs, and Carriers) to offer premium financing directly at the point of payment.
By connecting your existing Premium Finance Company (PFC) partners to your ePayPolicy payment page, you provide a seamless, paperless experience for your insureds while speeding up your binding process.
Key Benefits:
- Integrated Checkout: Insureds can choose to finance their premium right from your payment page.
- Paperless Agreements: Generate and e-sign Premium Finance Agreements (PFAs) instantly.
- Faster Funding: Reduce back-and-forth communication and get paid sooner.
- Increased Visibility: Track all financing transactions and details directly within your ePayPolicy dashboard.
How It Works
- 1.Selection: When an insured visits your payment page, they are presented with the option to pay in full (via ACH or Credit Card) or to finance their premium.
- 2.Terms & Enrollment: If they select financing, the system displays upfront terms and payment schedules from your connected PFC.
- 3.Digital Execution: The insured securely views and e-signs the Premium Finance Agreement (PFA) digitally.
- 4.AutoPay: Insureds can opt into AutoPay during the process to ensure they never miss a future installment.
How to Enable Finance Connect
To start offering premium financing at checkout:
- 1.Contact Support: Email support@epaypolicy.com or call 844-372-9300.
- 2.Partner Setup: Provide the name of your Premium Finance Company partner. The ePayPolicy team will handle the digital handshake to link their terms to your payment page.
Related
5 Benefits of Insurance Premium Financing
Insurance premium financing allows individuals and businesses to pay insurance premiums over time through loans, benefiting insurance companies by attracting new customers, increasing customer retention, fostering financial partnerships, and generating additional revenue through improved cash flow and interest income.
USPF Partners with ePayPolicy for Faster Financing for Insurance - ePayPolicy
US Premium Finance (USPF) has partnered with ePayPolicy to integrate its Finance Connect feature, enabling insurance customers to access premium financing seamlessly at checkout through existing premium finance company partnerships, thereby offering a convenient "Buy Now, Pay Later" experience that aims to increase conversion rates and streamline insurance premium payments.
Honor Capital Joins Finance Connect - ePayPolicy
Honor Capital has partnered with ePayPolicy to integrate its premium financing solutions into ePayPolicy’s new Finance Connect feature, enabling insurance brokers and agencies to effortlessly offer real-time, online financing options—including down payments and e-signatures—to eligible payors during checkout, streamlining access to premium finance through seamless integration with agency management and accounting systems.
Agile Premium Finance Partners with Finance Connect - ePayPolicy
Agile Premium Finance, a division of First Financial Bank, has partnered with ePayPolicy to integrate its Finance Connect feature, enabling insurance companies to offer customers seamless online premium financing enrollment and payment solutions—including e-signed agreements—thereby enhancing efficiency and accessibility in premium finance similar to popular "Buy Now, Pay Later" models in e-commerce.
Finance Connect: “Buy Now, Pay Later” for Insurance - ePayPolicy
ePayPolicy’s new "Finance Connect" feature integrates Premium Finance Companies (PFCs) into online insurance payment pages, leveraging the proven benefits of Buy Now, Pay Later (BNPL) models—such as increased conversion rates and cart values—to offer flexible premium financing options that help consumers manage rising insurance costs amid inflation and economic changes.
How R.K. Tongue Managed 50% Premium Finance Premium Growth with Finance Connect - ePayPolicy
R.K. Tongue, a dental industry insurance provider, achieved 50% growth in premium finance premiums by integrating ePayPolicy's Finance Connect with their Vertafore system, automating and streamlining the previously manual, time-consuming process of generating and managing up to 300 monthly finance agreements, thereby enhancing client payment flexibility and reducing administrative burdens during peak seasons.