10 Insurance Industry Predictions for 2022

As the new year gets underway, we begin to see trends emerge in the world of insurance. By understanding what is likely on the horizon, insurance professionals have a chance to prepare and adapt, ensuring they’re in the best position to thrive.

If you want to make sure you’re ready for what’s to come, here are ten insurance industry predictions for 2022 from industry experts.

10 Predictions for 2022 from Industry Experts

Kim Hedrick CPCU, CIC – Enterprise Sales at ePayPolicy

1. Digital Transformation Moves Forward

Digital transformation hasn’t been quick in the insurance industry. However, it became a necessity due to the situations created by the pandemic. Shelter-in-place orders and social distancing requirements altered the landscape dramatically.

Kim believes that digital transformation will continue moving forward, even if it was initially a slow start. “Digital transformation has taken longer in the Insurance Industry, but we are making great strides,” said Hedrick. “Regardless of the segment you are in – carrier, wholesale, MGA, specialty or retail – your team is more productive today by relying on digital tools that were not even an option just a few short years ago.

“The pandemic pushed us all out of our comfort zones, and we were forced to adopt certain technology quickly that we may have been resistant to before. For me, becoming proficient in six different virtual meeting platforms and mastering online grocery shopping was never a goal, but now that I have, I won’t be going back to doing things the old way.”

2. Increasing Digital Payments

As Kim mentioned above, digital transformation is increasingly the name of the game. While the impact on internal operations is significant, it will also affect how customers engage with insurers.

Just like insurers won’t move away from some of the technologies they’ve embraced during the past two years, “I think the same holds true for the Insureds that paid their premiums and signed their applications electronically for the first time,” Hedrick stated. “I believe they will continue to expect this type of convenience moving forward even when the pandemic is far behind us.”

“As our industry is adapting to digital transformation and providing Insureds with secure and convenient options for managing and paying their premiums, I think we will continue to see an increase in digital payments.”

Scott Howell – Owner of iProtect Insurance Services, co-host of The Insurance Guys Podcast

3. Rising Rates Will be the Norm

Rates increase based on several market factors. Along with repair and replacement costs, an increasing number of incidents and the rising severity of events can all be factors.

“Auto and Home rates will continue to trend upwards based on weather-related losses combined with an increase in the cost to repair both home and auto claims,” Howell stated. “Commercial and Business Auto will in some cases see significant increases depending on the type of risk and geography.”

4. More Embedded Insurance at Points of Sale

Another area that’s seeing growth is embedded insurance at points of sale. Along with being positioned as a convenience for customers, they can bolster the bottom line of companies looking to overcome pandemic-related hardships or other industry challenges.

According to Howell, “the industry will see an increase in embedded insurance at the point of sale as Vehicle Manufacturers and other industries continue to move towards creating another revenue stream to assist with their overall financial performance.” Insurance is a potential profit-driver, making it an attractive target. As a result, insurers should anticipate an expansion in this area, allowing them to adapt to the shifting climate.

Jason Cass – Owner of Agency Intelligence

5. Insurtechs Look Beyond Service and Claims

Initially, insurtech concentrated on the service and claims business areas, and with good reason. Those systems supported a range of everyday operations, making them prime targets.

However, remaining competitive requires more than effective service and claims management. “Insurtechs have catered to the companies on service and claims,” said Cass, “but now they realize that giving agent tools for marketing and sales will help everyone.”

Essentially, during 2022, expect expanding toolsets that focus on areas beyond service and claims, especially capabilities that focus on business expansion and customer retention.

Gabe Nix CIC, AU – Enterprise Sales at ePayPolicy

6. Workers’ Compensation Losses Will Continue to Have an Impact

Workers’ compensation costs relating to the pandemic were incredibly high. Considering that COVID-19 was an unprecedented event, the insurance industry couldn’t prepare for such an incident in advance. Additionally, making adjustments to certain policies wasn’t practical at the height of the pandemic, leading to a long-term challenge for those operating in the space.

“Industry estimates for workers’ compensation losses as a result of the pandemic range from $500-$750 million in claims for workers’ compensation carriers,” said Nix. “Profitability for workers’ compensation will take a hit until premium increases take effect.”

S&P Global

7. Cyber Re/insurance Prices Will Rise

As a side effect of increasing digital transformation, the number of cyber incidents is anticipated to rise. According to research from S&P global, pricing in the industry will increase in response.

“The trend toward digitalization will inevitably lead to a higher likelihood of cyber incidents,” said S&P Global. “Prices in the cyber re/insurance market could therefore rise sharply over 2021-2023, even doubling in some cases.” 

McKinsey & Company

8. Automation Is Becoming Commonplace

As part of the broader digital transformation trend, AI and machine learning-supported automation is on the rise. According to research by McKinsey & Company, “more than half of claims activities [will be] replaced by automation” by 2030.

William Trainer – Strategic Partnerships at ePayPolicy

9. Tech-Savvy Talent Will be the Key to Growth

Premium growth is expected to continue in 2022. As a result, finding ways to enhance the customer journey will be essential. According to William Trainer, “the lingering 3-year pandemic has only enhanced the need for more insurtech solution development and further digital transformation in the industry which allows insurance professionals to work remotely, and provides customers a pleasant online journey.”

However, that doesn’t mean the transition will be seamless. “One of the greatest challenges for the insurance industry in 2022 will be the ability to find and hire enough insurance tech-savvy talent to effectively manage the growth,” William Trainer stated.

Essentially, without tech-savviness, adapting to emerging solutions becomes challenging. In turn, this can result in impeded growth. By making tech-savviness a talent acquisition priority, embracing new systems come naturally, accelerating growth significantly.

Jerome Haegeli, Swiss Re Group Chief Economist

10. Insurance Demand Skyrockets

Research conducted by Swiss Re indicates that insurance demand is increasing and could be poised to break premium records this year.

“Market conditions suggest that positive pricing momentum will continue across all lines and regions,” said Swiss Re group chief economist Jerome Haegeli noted when discussing the research. “Inflation-driven higher claims development in all lines of business, continued social inflation in the U.S. and persistently low-interest rates will be the main factors for market hardening.”

Want More Insurance Industry Tips to Help You Thrive in 2022?

At ePayPolicy, we understand the importance of staying on top of emerging trends and shifting market conditions. That’s why we focus on remaining informed, allowing us to pass valuable information on to independent agents like yourself.

If you’re looking for more tips that can help your independent agency thrive in 2022, we’ve got you covered. Follow us on Facebook for more tidbits, tricks, and insights.

Vertafore Canada Orange Partner Program Endorses ePayPolicy

MONTREAL, Sept. 14, 2021 /CNW/ — Vertafore® Canada, a leader in modern insurance technology, today announced the launch of the Vertafore Canada Orange Partner Program, providing Canadian brokers the opportunity to take advantage of high-quality, pre-built integrations with strategic third-party technology providers. The program allows brokers to further optimize their processes and enhance the digital experience they offer their customers.

“In today’s competitive landscape, brokers increasingly need to focus on becoming future-ready, and it is essential that we, as solution providers, look for ways to help them achieve this,” said Dimitrios Argitis, vice president and general manager of Vertafore Canada. “We are committed to helping brokers achieve this through improved APIs and high-quality, vetted, strategic partnerships. The introduction of the Vertafore Canada Orange Partner Program is an important step in that direction.”

The Vertafore Canada Orange Partner Program is launching with seven partnerships that, when integrated with the Vertafore Canada SaaS solutions, offer brokers additional opportunities to optimize processes, enhancing the digital experience and complementing their strategic initiatives.

This initial set of partners serves as the foundation from which the program will continue to scale, and they drive significant value to brokers by offering them the following Vertafore Canada SaaS Platform integrated capabilities:

  • ePayPolicy: Brokers can offer their customers secure, quick and easy online payment options that integrate with Vertafore Canada solutions.
  • FIRST Insurance Funding Canada: Brokers can now provide monthly payment plans and full payment options for new business and renewals along with the policy proposal with FIRST PayTM, directly within the SIG.
  • Pathway: Brokers can automate client emails, texts, and document delivery through seamless data integration.
  • BrokerLift: Brokers can make selling insurance on their website easier both for their customers and the brokerage staff.
  • Xenex: Known as eSIGN, brokers can simplify processes by benefiting from this integrated SignatureMaster™ solution.

“These are partnerships that go well beyond just agreeing to work together. They represent a comprehensive arrangement that includes high-quality integrations that have already been developed and comprehensively tested, that collaboratively are being maintained and for which we have testimonials from brokers of their strategic value,” added Stacey Miranda, director of product management for Vertafore Canada. “The Orange Partner Program brings a new level of collaboration between Vertafore and its partners for the benefit of Canadian insurance brokers and their customers.”

For more information, please visit https://www.vertafore.ca/orange-partner-program.

About Vertafore Canada

Vertafore Canada is the expert in Canadian broker innovation and a leader in the BMS (Broker Management Systems) marketplace for insurance and financial services brokers. It offers an integrated suite of products designed to increase revenue through efficient use of technology. Vertafore Canada is the new name for Keal Technology, a leading provider of broker and commercial management systems in Canada, acquired by Vertafore in 2016.

2020 InsurTech Award Winners

We’re excited to share the results of the 2020 InsurTech Award presented by ePayPolicy. A record-shattering 165 agencies entered, representing a diversity of agency sizes and locations.

Each entrant received an ITA (InsurTech Adoption) score report. ITA scores assess the use of technology in six specific areas: sales, marketing, team collaboration, client experience, customer support, and agency management.

Congratulations to our 2020 top scorers. These agencies truly exemplify the spirit of the award through innovative use of technology across agency functions. 

Meet Our 2020 Runner Ups

Insurance Brokers of Arizona, Gilbert, AZ

Insurance Brokers of Arizona was founded in 2005 by Cameron Brown. After 12 years of operating the agency “traditionally,” Cameron recognized multiple opportunities to modernize. Technology solutions help his team and his clients, making for a better experience for everyone. Cameron’s advice on technology adoption: “Start with your biggest pain point, find a solution that works for you, and implement it. Then move to the next pain point and keep going.”

ElmSure Insurance, New York, NY

ElmSure specializes in serving real estate investors, offering tailored risk mitigation solutions for properties at all stages of construction and occupancy. Spokesperson Lipi Raghunathan commented, “Building technology and processes take time, but as long as the organizational foundation is sound, it’s worth it to create these automated systems.” ElmSure views technology as increasingly essential as agents, staff, and clients balance working remotely and in person.

Portal Insurance, Mobile, AL

Bradley Flowers founded Portal Insurance in 2019 with a mission to make insurance more customer-centric. He suggests there are a lot of ‘shiny objects’ out there, and it’s easy to get distracted. Bradley’s threefold test for new technology:

  1. Does it integrate well with our other tech? Don’t buy systems that add work to your tech stack. 
  2. Who owns this technology? He prefers someone who is “indie all the way.” 
  3. Does this tech make it easier for my end consumer to do business with me? If the answer is not a resounding “yes,” don’t buy it. 

… and Our 2020 Grand Prize Winner:

CalNonprofits Insurance Services, Capitola, CA

This women-led, nonprofit brokerage helps nonprofits throughout California navigate the insurance market. When they hired Colleen Lazanich as CEO four years ago, little did they know they were getting a self-described insurance geek, techie, data lover, and avid benchmarker. In four short years, Colleen has replaced every piece of hardware and software used by her team.

Calnonprofits had been operating like so many nonprofit organizations: way behind the technology curve. They purchased their computers at a recycling center. Virtually everything was done manually. 

Colleen views integration with the AMS as the only way to have “one true source of data, one source of truth.” Replacing their management system was one of her first priorities. Many integrations and automation followed.

  1. As it happens, the new management system provider had just released a sales management application, which has been a boon to CalNonprofits’ agents. 
  2. CalNonprofits was using a tool that digitizes the insurance application and renewal process. Soon, that application provider was bought by the new AMS provider.
  3. Other key technology upgrades include:
    • A new enrollment platform
    • An automated ticketing process (not currently integrated with the AMS)
    • Replacing a well-known email marketing vendor. CalNonprofits recently purchased a new marketing automation system offered by … their AMS provider.
    • Digital payment processing. CalNonprofits was in a beta test through one of their technology vendors. That product never made it to production but led Colleen and her team to ePayPolicy.

Says Colleen, “Being paperless has greatly improved us.” She is proud that her team has embraced so much automation in such a short time. One such change is a team collaboration/project management solution replacement in 2018. The new system is “intuitively organized and really ramped up productivity.” Because of that—and the other internal and client-facing automation—CalNonprofits was able to pivot to remote work in a single day when the COVID pandemic hit.

Colleen Lazanich says she entered the InsurTech Award competition specifically to get the ITA score report. Her team is thrilled to be recognized. But as long as there are new areas to automate, new technology solutions to integrate, CalNonprofits will continue to pursue them—and seek to better their 2020 ITA score in future years.

Once again, thank you to our 165 entrants. Congratulations to CalNonprofits, and to runners-up Portal Insurance, Insurance Brokers of Arizona, and ElmSure.

If you’d like to be notified of our 2021 call for entries, follow us on Facebook and stay up to date on all things InsurTech.

InsurTech Pioneers, ePayPolicy & Veruna, Ink Integration

AUSTIN, TX– June 16, 2020 –  ePayPolicy and Veruna have entered into a vendor-partner agreement to add the digital payment processing capabilities of ePayPolicy to the Veruna AMR, the company’s open-platform agency management system (AMS).

Both companies are InsurTech pioneers, redefining how independent insurance agencies conduct business through the innovative development and application of technology, and are committed to greater agency control and paperless operation.

ePayPolicy is on a mission to replace paper checks with convenient, simple, online payments via credit card or ACH. While digital payments are ubiquitous across the spectrum of consumer and business transactions, insurance has traditionally been slow to offer alternatives to checks — even though most are using an AMS to automate other aspects of the business. ePayPolicy gives policyholders the convenience of digital payment options while handling the specific accounting, compliance, and reporting requirements of independent agents and brokers.

“To reach today’s independent agents, it’s essential that we integrate with the agency management systems that are continuing to develop agency first solutions,” said Milan Malkani, ePayPolicy co-founder. “Veruna offers an exciting, innovative AMS that’s feature-rich. We’re honored to be named as their integration partner for payment processing.”

“Our goal is to help agencies outperform the past,” said Jennifer Carroll, CEO of Veruna. “We are in tune with their evolving needs in an ever-changing world, and the Veruna AMR offers agencies a robust, yet nimble, suite of management functions. Digital payment processing is a welcome and timely addition, and ePayPolicy is the perfect partner for us.”

The Veruna platform revolutionizes agency operations and makes higher levels of productivity possible with the ability to make more rapid, informed decisions utilizing real-time data, robust analytics, and automated workflows. By coupling exceptional technology with industry expertise, Veruna delivers an AMS designed to meet the needs of modern insurance agencies by enhancing mobility, flexibility, customization, and integration capabilities.

“ePayPolicy is redefining insurance payments, and Veruna is redefining agency management,” said Carroll. “I see exciting implications for forward-thinking agencies — and our clients.”


About Veruna
Veruna delivers the insurance industry’s only modern agency management system (AMS) built on the Salesforce platform and capable of driving quicker decisions using real-time data, robust analytics, and automated workflows with increased mobility, flexibility, customization, and integration all backed by the expansion capabilities inherent to the Salesforce AppExchange. For more information, visit veruna.com

About ePayPolicy
ePayPolicy is the simplest way to collect digital insurance payments. Austin, Texas-based ePayPolicy is the nation’s foremost provider of payment processing developed exclusively for independent agencies, brokers/MGAs and premium finance agencies. The company’s  innovative electronic payment processing portal enables its clients to accept  payment via credit card or ACH, without messy merchant accounts or hidden fees. ePayPolicy sets up quickly, integrates seamlessly with leading management systems, and is endorsed by independent insurance associations nationwide.
To find out more visit epaypolicy.com.

ePayPolicy Partners with Novidea’s SMART Management System

AUSTIN, TX – June 9, 2020 –  ePayPolicy now integrates with Novidea’s SMART AMS. ePayPolicy will extend e-payment capabilities to users of the cloud-based, Salesforce-powered agency management system that leverages automation and AI to help agencies scale faster and more efficiently than ever before.

ePayPolicy enables independent insurance agencies to collect payments instantly via credit card and ACH. The company’s digital payment portal is designed for independent insurance agents and brokers to handle their industry-specific  accounting, compliance and reporting requirements. Equally important, it’s convenient for customers. Policyholders can pay from any device, anywhere. They no longer need to track down a checkbook and wait for their check to clear, and for those trying to earn credit card points, they can do so on every transaction. Agents can bind policies faster and replace aging receivables with instant payment.

Milan Malkani, ePayPolicy Co-Founder, stated: “We have always advocated InsurTech solutions beyond our own, especially technology-driven agency management systems that utilize data to excel the workflow of today’s on-the-go agent . It’s exciting to be part of the Novidea SMART AMS, along with other integrated providers of AI-based SMS technology, digital marketing and e-signatures, to name a few.” 

Integration with popular agency management systems is essential to ePayPolicy’s growth strategy. Said Malkani, “We go where the action is. Whatever AMS your agency is using, ePayPolicy wants to be part of it.”

Novidea GM, Eric Ayala commented: “We created the SMART AMS to help agencies get to the future today. By selecting partners like ePayPolicy, we showcase how our open API architecture can easily integrate with best of breed new technologies, and further demonstrates our vision to help agencies scale by automating all processes. These capabilities go well beyond the typical AMS.”

Malkani concluded: “Digital payment is the norm in consumer and most business transactions today. ePayPolicy’s goal is to make it the norm in agency/customer transactions. We thank the Novidea team for not only choosing us, but promoting ePayPolicy along with the other Novidea-developed and integrated insurance agency capabilities available with the SMART AMS. ”

About Novidea
To compete in the digital economy, insurance agencies have to futurize – and fast. They must be able to offer the kind of customer experiences today’s consumers expect. But transforming an entire business at once seems radical, not to mention impossible with existing AMSs. Novidea makes it possible and painless for any agency. Our radical idea? The Smart AMS. It’s a cloud-based system like no other, designed to modernize every aspect of your business. From digital marketing to AI-based SMS to real-time analytics and self-service portals – nothing gets left behind. And you can offer the any-time, any-device experience your customers demand. A Salesforce Ventures portfolio company, Novidea operates in 16 countries globally and is now launching in the US.

For more information visit novideasoft.com

About ePayPolicy
ePayPolicy is the simplest way to collect digital insurance payments. Austin, Texas-based ePayPolicy is the nation’s foremost provider of payment processing developed exclusively for independent agencies, brokers/MGAs and premium finance agencies. The company’s  innovative electronic payment processing portal enables its clients to accept  payment via credit card or ACH, without messy merchant accounts or hidden fees. ePayPolicy sets up quickly, integrates seamlessly with leading management systems, and is endorsed by independent insurance associations nationwide. 

To find out more visit epaypolicy.com

The Indie Agents Guide to The Coronavirus Relief Options

New Options Available For Your Insurance Agency  

Most insurance agents and agencies could consider themselves small businesses. Thanks to the recent CARES act, signed into law by the President on Friday, March 27th, there are four new funding options available to small businesses. These are temporary but necessary programs established to support businesses affected by Coronavirus. We’ve gathered a bit of helpful information for your agency to consider. 

So, What’s the Government Doing Exactly?

Here it is in a nutshell. They are offering:
1. A Paycheck Protection Program (PPP) – expanding one of their traditional loan programs and forgiving businesses for retaining employees
2. Economic Injury Disaster Loans – providing up to $10,000 advance loan if your business is facing temporary difficulties
3. SBA Express Bridge Loans – allowing businesses to get a quick $25,000 if they have a current SBA Express Lender relationship
4. Debt Relief – affording financial reprieve to small businesses

Here it is, in less of a nutshell.

Where to Start

When our friends at Broker Buddha reached out to let us know they developed a Paycheck Protection Program (PPP) resource, we were excited to share it with you! Not only because it’s backed by a fellow InsurTech leader, but because this is one of the primary loans independent agencies should apply for. It benefits small businesses who have focused on keeping their employees on payroll – we love that. 
When it comes to the PPP, the 31 pages of guidelines are just the start. Our best find for an overview is on Marketplace, where they dive into some major details like who can apply, where to apply, and some basic terms of the loan. They also emphasize that you should apply ASAP since there is a funding cap.
The application can be submitted “to any SBA lender or any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating,” according to Janet Nguyen with Marketplace. But those institutions haven’t made it easy.

I’ve Got Friends in “Loan” Places

Thankfully, Broker Buddha did make it easy. They designed an entire PPP Loan Smart Form application to make the process “easier and far less time-consuming for businesses to complete.” 
Their resource makes it simple to apply for this loan, and includes instructions throughout the process – something the original PDF application did not provide. They also offer this service free to all agencies, even those not using the Broker Buddha platform.
We highly recommend your agency apply for a PPP Loan if you have prioritized keeping your team employed. Using the free access Smart Form to apply will simply make that experience better!

West Virginia Association Chooses ePayPolicy As Digital Payment Processor of Choice for its Members

AUSTIN, Texas, January 22, 2020 – ePayPolicy is proud to announce its latest state insurance association endorsement. Independent Insurance Agents of West Virginia (IIAWV)  recently named ePayPolicy as the recommended payment processing provider for its member agencies. IIAWV CEO Traci Nelson explained: “Our mission is to provide members with the tools they need to serve their clients and build their business. Technology is a huge driver of operational success. With ePayPolicy, our members get industry-specific payment technology that serves a dual purpose of increasing agency efficiency and increasing client satisfaction. That’s the kind of win-win we strive to deliver to IAWV members.” ePayPolicy Co-Founder Todd Sorrel commented: “Digital payment is more than today’s reality, it’s today’s standard. Policyholders are consumers, and they’re used to paying by credit card or ACH. ePayPolicy enables IIAWV members to offer digital payment in lieu of check, thus speeding up policy binding and receivables. The platform also integrates with most agency management systems (AMS) and includes the fiduciary and other accounting and reporting capabilities specific to our industry.” IIAWV is the 29 state association of independent insurance agents to endorse ePayPolicy.  Concluded Sorrell: “We’re always excited to partner with fellow technology evangelists. IIAWV recognized long ago that technology is the future of our industry. In fact, in 1999 (the association’s 100-year anniversary), their published history stated: ‘Even as we are in the midst of enormous operational and cultural change, we have come to view such dramatic change as commonplace and take it for granted. When we stop to think about the degree of change that engulfs and propels us, it is just short of unbelievable.’ They also recognized that ‘computerized operations have evolved from a novelty to a necessity.’ Two decades later, InsurTech continues to drive our industry forward. We’re delighted to extend ePayPolicy’s solutions to IIAWV members and to their clients.” About IIAWV With roots dating back to 1899, the Independent Insurance Agents of West Virginia (IIAWV) is the state’s oldest and largest insurance trade organization. IIAWV is an affiliate of the Independent Insurance Agents and Brokers of America, Inc. (IIABA), the largest property and casualty insurance producers organization in the world. IIAWV is a strong and committed advocate for more effective representation of independent insurance agents and consumers with both the state and federal legislatures. The association offers its members a variety of products, educational programs and services to increase their effectiveness and give them a professional edge in today’s competitive business environment.  Learn more at https://www.iiawv.org/default.aspx About ePayPolicy ePayPolicy is the simplest way to collect digital insurance payments. Austin, Texas-based ePayPolicy is the nation’s foremost provider of payment processing developed exclusively for independent agencies, brokers/MGAs, and premium finance agencies.  The company’s innovative electronic payment processing portal enables clients to accept credit card or ACH without messy merchant accounts or hidden fees. ePayPolicy sets up quickly, integrates seamlessly with leading management systems, and is endorsed by independent insurance associations nationwide.  To find out more visit https://epaypolicy.com

ePayPolicy Poised for Growth with Serent Capital Investment

AUSTIN, Texas, January 8, 2020 – Electronic payment processing company ePayPolicy has received a significant investment from Serent Capital, a San Francisco- and Austin-based private equity firm focused on investing in high-growth technology and services businesses. ePayPolicy, an industry leader in electronic payment solutions for the independent insurance industry, will leverage the Serent funding for continued product enhancements, integration with the most widely used agency management systems (AMS), and accelerated growth. Since its founding in 2014, ePayPolicy has been a proactive proponent of technology adoption by the insurance industry (“insurtech”). Specifically, the company has been on a mission to replace paper checks by enabling policyholders to pay electronically via credit card or ACH.  Today ePayPolicy processes over $2 billion in payments annually, serving 2,300 independent agents, brokers, MGAs, and premium finance companies in the Excess & Surplus (“E&S”) insurance market. Some 28 Big “I” (Independent Insurance Agents and Brokers of America) state associations endorse ePayPolicy as their digital payment processor of choice for their members.  “This investment from Serent is a game-changer in our ability to strengthen our brand presence across the industry, integrate with even more agency management systems and take our platform to the next level in user (agency) and end-user (policyholder) experience,” said Todd Sorrel, Co-Founder of ePayPolicy. Leonis Partners advised ePayPolicy on capital raising strategy. Kevin Frick, Partner at Serent Capital, explained the firm’s decision by saying, “We knew immediately ePayPolicy would be a great fit for Serent. Their stellar reputation and innovative, industry-specific technology stood out. Their client satisfaction scores are exceptional and their references prove the most important point – they deliver.” “We’re incredibly excited to partner with Co-Founders Todd Sorrel and Milan Malkani to expand ePayPolicy’s market reach and continue to drive exceptional value for their clients and the insurance industry as a whole,” concluded Frick. About Serent Capital Serent Capital invests in growing businesses that have developed compelling solutions that address their customers’ needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent seeks to help growing businesses thrive.  For more information on Serent Capital, visit www.serentcapital.com About Leonis Partners Leonis Partners serves as a full-service advisor to entrepreneur-led technology businesses. Calling on decades of experience from some of the largest leading global financial institutions, Leonis crafts highly calibrated solutions to achieve their clients’ needs as they pertain to M&A, capital raising, fairness & valuation opinions, and other special situations. Leonis Partners’ experience and track record in these core areas provide clients with superior results. The firm is headquartered in New York. For more information visit http://leonispartners.com/ About ePayPolicy ePayPolicy is the simplest way to collect digital insurance payments. Austin, Texas-based ePayPolicy is the nation’s foremost provider of payment processing developed exclusively for independent agencies, brokers/MGAs, and premium finance agencies. The company’s innovative electronic payment processing portal enables clients to accept credit cards or ACH without messy merchant accounts or hidden fees. ePayPolicy sets up quickly, integrates seamlessly with leading management systems, and is endorsed by independent insurance associations nationwide. To find out more visit https://epaypolicy.com ###

OIA Endorses ePayPolicy for Digital Payment Processing

We Welcome Ohio to Our Endorsers List  AUSTIN, Texas, November 21, 2019  –Ohio Insurance Agents (OIA) has named ePayPolicy as its electronic payment processor partner. The partnership offers OIA members a special signup offer on ePayPolicy services, which enable them to improve their customer experience by accepting credit card and ACH payments online. “Independent insurance agents are embracing technology at a rapid pace. We’re here to help them meet increasing consumer demand for digital forms of payment. ePayPolicy makes online payments simple and seamless — for the consumer and for the agency,” said Todd Sorrel, ePayPolicy co-founder. “We’ve eliminated the traditional barriers like pesky merchant accounts and long-term contracts. Plus, with ePayPolicy agents and brokers can get setup in 2 – 3 business days.” According to OIA’s chief executive officer, Jeff Smith, JD, CIC CAE, “We have high standards for the products we recommend to our members. Partners must be agent-friendly champions of the independent agency system, as well as best in their class. ePayPolicy scores 100 percent on all measures.” Concluded Sorrel: “Selection by OIA significantly broadens our penetration within Ohio and elevates our profile across the country. We appreciate their confidence in our abilities. We look forward to enhancing the insurance-buying experience for consumers and to supporting OIA members’ tech-enabled growth. Online payment is a big step forward for all involved in these goals.” Bring seamless online payments to your agency Agents who want to join OIA, or learn more about ePayPolicy and the other benefits and resources available to them through an OIA membership should visit www.ohioinsuranceagents.com/agent or call (800) 555-1742. About Ohio Insurance Agents (OIA) Ohio Insurance Agents Association (OIA) is the collective voice of 1,200 independent agencies that employ nearly 10,000 Ohioans and protect hundreds of thousands of Ohio consumers through personalized insurance plans. OIA members write 82 percent of the commercial insurance policies and 44 percent of personal insurance policies in Ohio.  OIA promotes, progresses and protects the professional advice and guidance only independent insurance agents provide. The company helps agents by providing professional consulting services, agency valuation and succession planning, operational benchmarking reports, and other business solutions and industry thought leadership. For more information visit  https://www.ohioinsuranceagents.com/ About ePayPolicy ePayPolicy is the simplest way to collect digital insurance payments. Designed for independent agents, brokers, MGAs, premium finance companies, and their clients, their innovative electronic payment processing portal enables clients to accept credit card or ACH without messy merchant accounts or hidden fees.  ePayPolicy sets up quickly, integrates seamlessly with leading management systems, and is endorsed by independent insurance associations nationwide. To find out more visit ePayPolicy.com.

IIARI Endorses ePayPolicy for Digital Payment Processing

AUSTIN, Texas, October 10, 2019 – ePayPolicy has been named as the approved payment processing provider by the Independent Insurance Agents of Rhode Island (IIARI). The company joins a select group of vendors endorsed by IIARI to provide agency services to its members. 

IIARI Executive Vice President Mark Male commented: “A central part of our mission is to enhance our members’ competitive position. Consumers today want the convenience of paying for purchases electronically. We researched payment processors and chose ePayPolicy because their platform is insurance-specific. They really understand the special needs of our industry.”

ePayPolicy Co-Founder Todd Sorrel concurred, stating: “We are more than just InsurTech geeks. We are insurance entrepreneurs helping insurance entrepreneurs give their clients better service. We live in an increasingly digital world. Our goal is to help IIARI’s members embrace all the client-nurturing and business growth opportunities afforded by digital technology.”

Endorsement by IIARI will expose ePayPolicy to the 140 agencies that write 82 percent of Rhode Island’s commercial policies and 39 percent of all personal insurance policies. IIARI members who implement ePayPolicy will discover a true business partner to help them speed up receivables, streamline their operations, and offer clients modern payment convenience.

IIARI is the 30th  state association of independent insurance agents to endorse ePayPolicy. 
Concluded Sorrell: “We rely on trusted associations like IIARI to open the door to independent agents who can benefit from electronic payments. We look forward to serving their members as we continue to spread the InsurTech gospel nationwide.”

The Independent Insurance Agents of Rhode Island (IIARI) is a trade association established July 25, 1900. IIARI membership includes most every independent agency in Rhode Island who employ nearly 1,400 individuals.

IIARI is an affiliate of the Independent Insurance Agents and Brokers of America, Inc. (IIABA), the largest property and casualty insurance producers organization in the world. IIARI membership automatically includes membership in IIABA and participation in the Trusted Choice consumer brand.

IIARI’s mission is to enhance the competitive position and satisfy the business, professional, education and political needs of member agents.

Learn more at: https://www.iiari.com/default.aspx

About ePayPolicy
ePayPolicy is the simplest way to collect digital insurance payments. Austin, Texas-based ePayPolicy is the nation’s foremost provider of payment processing developed exclusively for independent agencies, brokers/MGAs, and premium finance agencies.  The company’s innovative electronic payment processing portal enables clients to accept credit card or ACH without messy merchant accounts or hidden fees.  ePayPolicy sets up quickly, integrates seamlessly with leading management systems, and is endorsed by independent insurance associations nationwide. 

To find out more visit https://epaypolicy.com
The company’s annual InsurTech Agency Award recognizes independent insurance agencies/brokerages for leveraging technology to enhance their sales, marketing, and customer service. Details and call for entry are at https://www.insurtechaward.com/