PayMyPremiums

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Learn more about PayMyPremiums.

PayMyPremiums

AFCO Direct is changing the game with PayMyPremiums (PMP), its fully digital premium billing, down-payment collection and financing solution.

Agents will be happy to learn that PMP is a mobile-friendly platform that makes it easy for their insureds to pay premiums in full, or to collect down payments and finance their premiums. Using PMP, insureds can make payments via credit/debit card or ACH. Insureds electing to finance their premiums will have the option to enroll in recurring monthly installments. And, regardless of whether an insured pays in full or finances, agents receive gross premiums from AFCO Direct 100% of the time – no more chasing funds from multiple parties.

Added benefits of PMP for agents include: reducing average days’ receivables; ability to maximize premium finance revenue where allowed; and saving time by easing the administrative effort associated with premium financing.

PayMyPremiums delivers improved efficiencies for agency partners and is accessible through QIV, AFCO Direct’s in-house quoting platform, and various integrations:

 

 


 

PayMyPremiums - QIV - InsurLink - AMS360

 

Check out how PayMyPremiums is helping Alex Dopazo of Dopazo & Associates Insurance: 

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Pay My Premiums has made our premium collection process so streamlined.

Our office does a lot of transactional small business work, and being able to have one workflow that works across all of our agency bill carriers that it makes it easy for the customer to go ahead and make that payment on their cell phone, on their on their tablet, on their computer. However, forward it to the accountant, make that payment either in full or with a credit card or ACH, set it up on autopay. Having all of that as one seamless process has sped up our ability to be able to get to that binder as quickly as possible. And quickly is an important part of what we do. Our customers always call us three days after they needed the insurance. So being able to do that in a way that is as least cumbersome to the customer as possible while getting us everything we need is PayMyPremium has made a huge difference in the way that process works in our office, and our customers have loved going through it.

 

 

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