Posted by Alison Arthur on 27 Jun 2019
Looking back at the P&C Insurance sector in 2018, all signs point to it being a year of strong growth. A report published by Deloitte shares that overall economic growth and rising interest rates were just two of the prevailing market conditions that bolstered P&C Insurance carriers throughout the year. In addition, US premiums were written at an unprecedented rate and the insurable bases for both personal and commercial accounts expanded.
What we here at Alacriti find interesting and exciting in this growth is the impact that it had on bill payments. A strong and growing sector meant that more policyholders were making bill payments. And how policyholders chose to make their payments, from the funding sources they selected to the payment channels they used most often, are of particular interest to us.
On June 25, we hosted a webinar, “P&C Insurance: Consumer Bill Payment Preferences & What’s Ahead”, that featured speakers from Aite Group and Alacriti. In it, we reviewed historic bill payment preferences for P&C Insurance published by Aite Group in 2017 and shared our findings from 2018. In addition, our speakers looked ahead to future trends impacting the P&C Insurance sector including cloud computing, blockchain, and digital disbursements.
Here are some key takeaways from the webinar:
03 Sep 2019 Blog Paper or Electronic Billing: What’s Your Preference? Eliminating paper bills can benefit businesses, but some customers still rely on them. Your organization can encourage a permanent shift toward electronic bill presentment and payments (EBPP) by offering the right incentives.