INSURANCE
Partner with NDMS to improve your bottom line
Many insurance companies that accept credit cards for bill payments have benefited from improved cash flow, lower costs and increased customer retention by offering their customers more payment options. Put these benefits to work for your company by accepting credit cards for bill payments.
Increase Customer Satisfaction and Retention
Rising insurance premiums indicate that customers need alternative payment options now more than ever. Customers are more likely to purchase additional services if they pay bills with their card.
Cut Costs and Increase Profits
- Reduce expenses created by delinquent accounts since card payments are guaranteed.
- Improve cash flow since card payments are received and post faster than check payments.
- Cut payment processing and check-handling costs since online processing reduces the number of customer service calls and related expenses.
- Reduce charge-offs by instantly shifting all non-payment risk to the financial institution once card transactions are authorized.
Get Updated Customer Information Faster
- Receive electronic notification of changes to cardholder account information, such as a new card expiration date or product upgrade, in a timely manner with Automatic Account Updater.
- Reduce customer contact costs to obtain updated information.
- Cut customer service expenses by preventing payment interruptions.
Customers Want Payment Options
- 50% of insurance customers use some sort of recurring payment method. Since there’s no need to write checks or hunt for stamps, electronic bill payments save customers time and hassles.
- Bill payments are secure. NDMS supports programs like Visa’s Zero Liability Policy, which protect customers against fraud, including bill payments made online or by phone.
- Bill payments qualify for rewards. Customers enrolled in an incentive program will earn points or miles for bills paid with their credit card.
