Insurance Carriers

Acknowledging both the cost savings and customer contact points as critical strategic initiatives for a carrier, gotoPremiumFinance has designed a unique billing program that can be customized to fit carrier billing needs.

Insurance carriers have many options when it comes to the billing and collection of premiums. Prepayment of the annual premium is very common as is the offering of installment billing.

Installment billing, however, takes a significant investment of time and capital and is seldom the core competency of an insurance carrier.

Outsourced Billing

A carrier’s efforts are more profitably expended in the pursuit of best pricing practices and managing the returns on invested premium dollars. The billing component is often a necessary evil in order to move the product.

Although the billing and collection of premium is typically not an insurance carrier’s primary business, gotoPremiumFinance recognizes that the billing process does result in significant customer contact. This is one reason why insurance carriers choose to internalize the billing and collection process rather than outsource it.

Our Solution

All servicing in this program can be performed under the carrier’s brand with all client-facing printed materials, websites and telephone communications bearing the name of the carrier.

A carrier has the unique option of providing a subsidized financing program as well. In a subsidized financing arrangement, the carrier pays a spread to cover part of the servicing expense and the balance is paid via by the policyholder in the form of a finance charge on a premium finance agreement.

Due to the subsidy provided by the carrier, the finance charge to the policyholder is competitive in the marketplace and can be sold as “low cost financing”.

Key Benefits

• Private Label - Every point of communication with your customers is custom branded for your company.
• Competitive Advantage - Offer “low cost financing” with our subsized financing program.