3 Tips for collecting the premium faster and in a more customer-friendly way
It is very important for both the insurer and the customer that the premium is paid on time. For the customer to guarantee coverage and for the insurer to maximize cash flow. Apply the three tips below to collect the premium faster and directly contribute to a better (payment) experience for the customer. This creates a win-win situation.
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Tip 1 - Announcement | Prevent customers from being surprised with an invoice.
Inform the customer that the premium will be invoiced or deducted from the account shortly. This way, the customer can reserve the required amount in advance. The announcement can be offered in various ways, such as: text message, mail or even a robocall. Announcing a premium charge may seem like an exaggeration, but it will be very pleasant for the customer. Especially when previous charges have failed.
Tip 2 - Convenience | Make it as easy as possible for the customer
Of course, an organization wants to get the invoice paid as quickly as possible. Then make it as easy as possible for the customer. Instead of letting the customer take over the data themselves, increasing the risk of errors and making them feel insecure, you can also offer the customer the convenience of digital payment. For example, send a invoice with QR code instead of an invoice with a giro. Easy to scan with all smartphones and pay directly via the bank app. But even better, send a push message with a payment link from the app to the customer - Mail to Pay data shows that 85% pays the outstanding invoice immediately - If there is no app, send a mail whether sms with payment link. So that the customer can pay them immediately.
Tip 3 - Follow-up | Follow up outstanding invoices consistently
If an invoice has not been paid yet, always follow it up. Send the customer a reminder via email and text message. Or, like Nationale Nederlanden, make use of a robocall to call the customer automatically and immediately offer them the opportunity to pay the outstanding invoice.
But even better is...
Let the customer choose a suitable solution for themselves to pay the overdue premium. Whether it involves delaying payment, paying in instalments or cancelling the costs, the customer can decide which solution best suits their financial situation.
Bonus - Automate | The faster the organization responds, the sooner the customer pays
Onboarding processes are easy to automate. Make, like Quintes, using POM's debtor process automation software to make this automation move. Easily build the ultimate recruitment process and use machine learning to approach the customer in the best possible way.
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