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| Integrated Solutions for Insurance Agencies In recent years, a number of trends have been transforming the industry. First, banks and mutual funds are now offering insurance products in direct competition with large insurance companies. In addition, massive industry consolidation has seen the emergence of numerous global insurance companies. These insurance companies offer electronic payment as an option to their customers, particularly since the emergence of online bill payment. EPP's integrated payment solutions, however, provide the ideal tools for an increasingly global and automated insurance industry. Electronic Payment Providers' mission has always centered on simplifying the often- confusing world of electronic payments. As an industry leader, we take pride in helping clients to increase revenue and efficiency while reducing paperwork and manual entry. By working with the most advanced industry software packages to integrate the latest in ACH and credit card payment technology, EPP creates a seamless experience for the end-user. Benefits EPP offers the following multiple benefits and opportunities to insurance agencies:
With EPP's integrated approach to payment processing, information is updated within current accounting software as soon as the payment clears. This automation eliminates the need for duplicate data entry or time-intensive software training. Insurance companies already have all of the tools they need to succeed. Automating Claims Disbursement In addition to bill payment, you can use EPP solutions for the fast and efficient disbursement of funds to insured companies. Electronic payments are a more secure, convenient, and auditable alternative to cash. Timely Payment Plans Agencies that implement EPP payment solutions receive guaranteed funds on time every time, without waiting for cleared checks or delayed receivables management. EPP payment solutions allow customers to enroll in the automatic payment option, which simplifies customer bill payment while enabling you to minimize late payments. Reduce Handling Costs and Losses Other costs related to billing and receivables are incurred by agencies, including remittance processing, lockbox fees, insufficient funds charges, billing and statement mailing costs, and collection agency fees. EPP's integrated payment solutions eliminate many of the hidden costs associated with billing. Recurring payments also minimize losses associated with NSF checks or late payments. Encouraging customers to enroll in the automatic payment option ensures that insurance agencies will be paid on time every month. Customer Convenience EPP solutions provide customers with the convenience and security of automatic bill payment through credit card or ACH (electronic check) transactions. Customers no longer worry about tracking bill payment due dates, writing checks, and mailing statements. Automatic Re-Presentment Re-Present NSF and returned items as many as two times automatically. If your business experiences significant volume of returned consumer checks and is interested in collecting NSF checks in-house electronically, then EPP has the optimal software solution. EPP Solutions Drive Cost Savings and Efficiencies The benefits of EPP Payment solutions are realized immediately upon implementation. With a high level of automation, EPP solutions pave the way for a paperless billing and accounts-receivable system while returning precious time to focus on your business. Click Here to view an online demo. |
