ePayPolicy introduces Quotes and Invoices to its insurance platform

This will offer insurance companies a modern quoting tool, with built-in digital payments and connected premium financing.

The key features of ePayPolicy’s new solution

The traditional quoting and invoicing process often involves many parties, including brokers, carriers, and premium finance companies. While many insurance organisations use agency management systems for invoice generation, others operate out of multiple disconnected technology tools. Some companies utilise generic accounting services just for invoicing or send editable Word documents and PDFs. They often keep using those tools even when they know it's causing extra work, for lack of options.

ePayPolicy’s new service helps insurance companies lead insured payers from quote to invoice, to online payment by helping with management, tracking open invoices, and setting due dates, among other features. When done efficiently, policies can bind faster, allowing agencies to spend more time on account servicing and new business development.

Quotes and Invoices provide five key features. Users can receive payment and bind policies faster with a quoting tool designed for insurance, generate custom quotes via an intuitive interface right from the ePayPolicy Dashboard, email delivery of quotes, with direct links to a payment page, add financing option with existing PFC partners, and access a historical database of previously sent invoices.

Quotes and Invoices integrates with Finance Connect, a feature from ePayPolicy that allows insurance companies to offer premium financing options directly at online checkout. This enables eligible ePayPolicy customers to offer premium financing at checkout via a connection to their existing PFC partners. The feature presents financing terms upfront and generates paperless PFSs.

Quotes and Invoices is a free-to-use feature with both Essentials and Integrated plans from ePayPolicy.