Posted by Alison Arthur on 18 Mar 2019
Auto insurance premiums are among the most predictable bill payments in consumers’ lives. Almost all states require car owners to have auto insurance policies that help protect drivers, citizens, cars, and property from the damaging effects of auto accidents. Missed auto insurance payments can have serious consequences that go beyond losing the ability to drive the uninsured vehicle. Law enforcement can write tickets, issue fines, and even suspend car owners’ driver’s licenses. Undoing the damage caused by lapsed car insurance can be a headache, costing both time and money.
Given the disruptive repercussions of lapsed auto insurance, it’s important to make the bill payment process as user-friendly as possible for policyholders. A forward-thinking electronic bill presentment and payment (EBPP) solution empowers auto insurers to deliver a seamless experience that can help avoid the negative consequences of missed payments. Here are three ways EBPP can facilitate a more user-friendly bill payment experience for auto insurance policyholders.
Allowing policyholders to automate their bill payments can help ensure that they keep their accounts in good standing. Policyholders can sign up for e-bills, enroll in AutoPay, manage funding sources, and take comfort in knowing that their auto insurance premiums will be paid in full and on time.
Making a full payment on an annual car insurance premium can help eliminate worry for both policyholders and auto insurers for a full twelve months. Auto insurers might consider offering incentives to encourage full premium payments through flat rate or percentage-based discounts. Auto insurers can further facilitate one-time payments by offering policyholders a quick and easy experience where they simply visit a website, key in identifying account information and make their full premium payment without logging with a User ID and Password.
Paying auto insurance premiums no longer means sending in checks or logging in via desktop computers. EBPP solutions can now accept auto insurance payments through optimized mobile websites and innovative channels like text messaging (Pay by Text) and messaging apps (Facebook Messenger). And, for the ultimate in mobility, some EBPP solutions even support bill payments through intelligent personal assistants like Amazon Alexa and Google Assistant. This allows policyholders to make voice payments via smart speakers using simple spoken commands for the ultimate in convenience and personalization.
The Bottom Line: Auto insurance payments are simply too important to miss. An EBPP solution can streamline auto insurance payments by automating monthly transactions, supporting discount pricing for full premium payments, and delivering a convenient bill payment experience via innovative channels that policyholders use most.
04 Dec 2019 Blog The 6 Critical Components of Effective Healthcare Billing Patient payments are a critical revenue source for healthcare providers. Our blog outlines six critical components of effective healthcare billing and how they can facilitate patient payments.