Delinquent premium payments present a range of challenges for carriers, impacting cash flow and consuming resources on the manual process of printing and mailing late notices. Ongoing delinquencies have serious consequences, like policy cancellations, reinstatements, and complications when claims are filed during a lapse in coverage.
It's critical for insurers to identify the most common reasons for missed premium payments and tactical strategies to get customers back on track.
Download your ebook and get on the fast track to modern payment experiences. You'll learn how to:
● Encourage regular, timely payments with reminder cadences.
● Accelerate response times with personalization levers.
● Offer payment flexibility with autopay and guest checkout.