4 min read

How to Lower Your Combined Ratio by Reducing Admin Expenses

By Patricia Moore on Sep 21, 2018 11:40:06 AM

As part of a heavily regulated field, insurance companies are limited in options when it comes to increasing profit margins outside of investment revenue. In this article, we’ll explore those limitations and discuss how re-configuring your operations around payments can help you lower your combined ratio.

Topics: Payments Profits & Loss
6 min read

Mission Critical: Customer Retention vs. Acquisition in Insurance (Part 2)

By Patricia Moore on Aug 10, 2018 4:30:00 PM

Unique Challenges and Solutions

In Part 1 of this series, we learned that it costs five-to-nine times more to acquire a new policyholder than it does to keep one. Additionally, existing customers have a higher potential to buy new products and refer your brand to friends and family, creating a more significant revenue impact than bringing in a new customer.

Topics: Payments Customer Experience
7 min read

Three Payments Secrets All Insurance Leaders Need to Know

By Patricia Moore on Jul 9, 2018 10:23:14 PM

For many insurance companies, payments is just an operations function that hums along in the background. Money comes in. There are spreadsheets involved. What’s the big deal? Why put more thought into it?

Topics: Payments Business
3 min read

The Role of Customer Experience in Insurance Payments

By Colin Zalewski on May 22, 2018 10:00:00 AM

We talk to a lot of people in insurance about payments. When we meet, the usual suspects are always there — Finance and IT — but a new group has started emerging in more and more discussions – Customer Experience. Why are the Customer Experience (CX) folks joining the conversation?

Topics: Payments Customer Experience
3 min read

Making Insurance Bill Payment a Policyholder Priority

By Scott Fallon on Apr 27, 2018 2:43:57 PM

Do you know where policyholders prioritize paying their home or auto insurance premiums? When times are tough—or even just as part of their normal budgeting behavior—do policyholders put paying you near the top of the list, or in the “if there’s money left over” bucket?

Topics: Payments Customer Experience