Streamlining Premium Financing

For over 45 years, IPFS? has provided insurance premium financing for businesses of all sizes. Our longstanding history has given us a powerful foundation of knowledge about the industry, which we have used to develop One Platform of technology solutions. IPFS’s One Platform approach combines premium financing, payments, document delivery, and eSignature. This suite of services streamlines operations, shortens the sales cycle, improves customer experience, and fosters business growth.?

Premium Financing

Insurance premium financing for business involves securing a loan to finance the cost of insurance premiums less any down payment. Premium finance companies pay the balance of the insurance premium to the insurance provider up-front. The insured then makes installment payments to the premium finance company that financed their premium.

By securing a loan and making payments over time, the insureds maintain a higher level of liquidity, which they can use in day-to-day operations. For businesses that require a healthy cash flow level to operate, insurance premium financing is a valuable option. From an insurance provider perspective, insurance premium financing is a useful tool for providing higher quality service to their insureds.

Payments?

Flexible payment options typically offered by the industry allow customers to pay their premiums in the manner that is most efficient and convenient for them. Some of the most important payment options include:

• Online payments via ACH or credit card?
• ACH or credit card payments made over the phone via interactive voice response system, or a live associate
• Check or money order by mail
• Preauthorized recurring ACH or credit card payments
• Bank bill payment

Document Delivery?and eSignature

Electronic document delivery empowers customers to easily work through the process of completing their documents quickly and easily to get the coverage they need. Electronic document delivery allows for paperless processing of loan agreements while also powering a more customized workflow for collecting signatures.

Cancellation Avoidance Tools

Cancellation avoidance tools empower insurers to proactively try to prevent cancelled policies. When an insurance policy is cancelled because of non-payment, everyone loses. With cancellation avoidance tools, customers receive automatic bill reminders letting them know that their bill needs to be paid. This helps insurers avoid having tough conversations with their clients about lapsed coverage because of non-payment.

Why IPFS?

IPFS creates competitive advantages for our customers in the insurance industry by pairing premium financing with powerful technology solutions for payments, document delivery, eSignature, and more.?With IPFS’s One Platform of premium financing and payment solutions, insurers can streamline their operations and provide amazing service to their customers. To learn more about our One Platform of solutions, visit www.ipfs.com/one.??