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.
R.K. Tongue is a leader in providing specialized coverage for the dental industry. As their business grew, their commitment to providing every client with flexible payment options meant a massive increase in administrative tasks. To ensure clients always had a choice, the team was proactively creating a finance proposal for every single invoice they sent out.
Even with a dedicated team, this level of service created a heavy lift:
- Proactive Service: They were generating up to 300 finance agreements a month to ensure every client saw their options upfront in their busy season.
- Dedicated Effort: This meticulous process took about 5 minutes per policy to prepare and follow up on.
- Busy Season Pressures: During peak summer months, the sheer volume made it challenging to stay ahead of their ambitious internal billing goals.
- Manual Tracking: Relying on paper checks and manual follow-ups meant the team spent a lot of time confirming signatures and payments.
The Secret Sauce: The Vertafore + ePayPolicy Integration
When R.K. Tongue looked for a digital payment partner, they chose ePayPolicy because of its seamless integration. They needed a system that talked to their Vertafore management system to keep things moving.
Building on that foundation, they added Finance Connect. Now, instead of a separate, multi-step process, financing is a natural, digital part of the checkout flow.
"The integration is the reason why ePay won. The ability for all of that information to feed directly over is key." — Sarah Goldbach, R.K. Tongue
Why Customers and the Team Love It
By making financing an automatic, built-in option, R.K. Tongue is meeting their clients exactly where they are.
- Flexibility for the Business: Financing helps business owners manage their cash flow and pay in a way that fits their specific budget.
- Simplified Experience: There is no need for extra phone calls or paperwork; the option is right there alongside the credit card and ACH choices.
- Modern Self-Service: Today’s busy professionals, like dentists, appreciate being able to handle everything from their phones in seconds.
The Results: Real Automation in Action
Since adopting Finance Connect, R.K. Tongue has seen an incredible shift in efficiency.
- 1.50% Growth in Loans: Because the digital experience is so easy, R.K. Tongue saw their financing volume jump by 50% year-over-year.
- 2.Reclaiming the Calendar: They have automated the finance process for 95% of their business. This allows the team to focus on high-value client service rather than generating “just-in-case” paperwork.
- 3.Seamless Accounting: With the Invoice Offset feature, the system handles the accounting entries in Vertafore automatically.
"It has been fabulous. She does not have to [manually create the invoice] every day. It is taking little pieces away each time and just making it step-by-step incrementally better." — Wendy, R.K. Tongue
The Bottom Line
R.K. Tongue is not just taking payments; they are using the ePayPolicy and Vertafore integration to offer a premium level of service. By automating the routine tasks, they have stayed ahead of their goals and given their clients a friction-free way to protect their practices.
Related
Higginbotham Insurance Makes The Switch To Digital Payments - ePayPolicy
Higginbotham Insurance, led by Controller Tony Haas, transitioned to ePayPolicy's digital payment platform to offer clients convenient ACH and credit card payment options integrated with their Sagitta management system, resulting in faster policy binding, immediate payment notifications, and a two-day reduction in reconciliation time, thereby streamlining their overall payment and administrative processes.
Payment Page Features - ePayPolicy
ePayPolicy offers a fast, PCI-compliant online payment solution tailored for insurance businesses, featuring a customizable mobile-friendly payment page, seamless integrations with management systems, premium financing options via Finance Connect, automated check processing through CheckMate®, and a Network Payables tool for streamlined fund transfers, all accessible through a comprehensive dashboard and supported by positive user testimonials.
The Leavitt Group Conference 2019 - ePayPolicy
The ePayPolicy team attended the 2019 Leavitt Group Conference at The Westin Lake Las Vegas Resort and Spa, where they were deeply moved by the organization's strong family-oriented culture, heartfelt award ceremonies, and inspiring speeches—particularly Anne Leavitt’s message on kindness—highlighting the Leavitt Group’s commitment to genuine care and community within the insurance industry.
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.
Automation Nation - ePayPolicy
The article from ePayPolicy discusses the ongoing debate around automation, highlighting its benefits such as reducing human error and increasing efficiency, while addressing concerns about job displacement and AI's current limitations, and emphasizes the company's efforts to demystify AI and automation in the traditionally human-centric insurance industry by showcasing everyday examples like autocorrect.
AMS360 - ePayPolicy
The AMS360 integration by ePayPolicy, powered by Vertafore, offers insurance agencies a secure, PCI Level 1 compliant solution to electronically collect payments via credit card or ACH, automatically reconcile them within AMS360 to eliminate duplicate data entry, and enhance client experience with features like branded payment pages, real-time invoicing, automated invoice notifications, autopay, and online premium finance options, while also integrating with AgencyOne for consolidated activity tracking, with setup typically completed within 1-2 business days and an additional $25/month fee for the integration subscription.