In an ever-changing world, convenience and innovation are the keys to easily evolving with insurance industry standards. When two powerful and heavily relied upon companies join forces – it produces a more sustainable foundation for its users to do business more effectively. A tangible example of this kind of relationship is the Appulate and IPFS partnership. This partnership combines industry-leading automation with premium financing and agency bill to benefit both agents and the insured.
Here, we will discuss how automation and premium financing combine to streamline business, specific benefits for agents, how to meet the needs of the insured, and benefits for smaller agencies. Let’s start by explaining why automation and premium financing is the “dynamic duo” for insurance industry professionals.
The Dynamic Duo: Premium Financing and Automated Submissions
For anyone not utilizing automation within the insurance industry – Appulate has been the leader in automation technology for over 15 years and is the company that businesses like Mid Atlantic and HSB rely on. Appulate provides 81% of independent retail agents with the necessary resources and tools to rate, quote, and bind within seconds – making Appulate the preferred submission management system of the insurance industry. Even more, MGAs, Wholesalers, and Carriers gain access to the largest network of independent agents for broader distribution opportunities.
Now, having access to the automation technology provided by Appulate without the proper financing options to complete your workflow would be less effective. Therefore, Appulate partnered with IPFS (Imperial PFS) Having over 40-years of experience as a privately held commercial insurance premium financing company – IPFS delivers a professional level of care for their customers that is unmatched.
Being able to access both of these innovative and convenient company benefits from a single location creates the “dynamic duo” that successful industry processionals now rely on! Next, we will uncover the perks for agents who utilize automation and premium financing.
How Agents Benefit from the “Dynamic Duo”
Agents who utilize the “dynamic duo” have access to a better communication process with their insured as well as features to manage multiple accounts more effectively. Agents can utilize their current agency management system to view the IPFS Agency Dashboard which displays all insured activity data in one location. Agents can also improve their workflow with features like eSignature for paperless processing. However, the most coveted benefits of the “dynamic duo” are the ability to obtain upfront commissions, receive enhanced terms for qualified insureds through IPFS Credit Advantage, and take advantage of free CE Classes.
Now, let’s explore how automation and premium financing looks for the insured.
Delivering the Customer Experience Insureds Seek While Streamlining Communications
With Appulate and IPFS, your insured can experience a fast approval process and take advantage of flexible payment options with monthly, quarterly, or seasonal plans. Also, features such as IPFS Connect can be used to make payments, review policy information, check account status, and more. This delivers the ease of access that insureds seek and often demand.
Agencies of All Sizes Benefit from Appulate and IPFS
This partnership is the smaller agency’s solution to the most common challenges in billing and finance. IPFS lightens the financial burden for agencies of all sizes by providing access to a broader audience with specific financing needs. IPFS also offers the digital resources to consistently expand its market reach with ease. Even more, by catering to the agency billing needs that include the collection of premiums with fees and taxes, as well as offering a more streamlined way to distribute proceeds to all involved parties – agencies can enjoy a stress-free financing process.
To thrive in the evolution of insurance, it is imperative to stay current on the innovative partnerships and trends that are shaping industry standards. To learn more about how you can enhance your workflow with the “dynamic duo” and enhance the way that you do business, CLICK HERE.