Referral Programs: Unlocking Benefits and Boosting Business Growth

by Uncategorized

In today’s competitive market, businesses are constantly searching for effective strategies to attract new customers and expand their reach. One approach that has proven to be highly successful is the use of referral programs. By harnessing the power of satisfied customers and incentivizing them to refer friends and family, referral programs can yield substantial benefits for businesses. 

What Are the Benefits? 

  1. Trust and Credibility

Referral programs tap into the power of trust and credibility. When a satisfied customer recommends a product or service to someone they know, it carries significant weight because personal recommendations are perceived as trustworthy. By leveraging these relationships, businesses can gain a competitive edge by capitalizing on the positive experiences and strong relationships their existing customers have with their brand.

  1. Increased Customer Acquisition

Referral programs act as a powerful customer acquisition tool. Traditional advertising and marketing efforts can sometimes come across as impersonal, but referral programs rely greatly on word-of-mouth marketing, which is highly targeted and personal. Satisfied customers become brand ambassadors, actively promoting products or services to their social circles. By offering incentives, such as discounts or rewards, referral programs motivate customers to actively spread the word. This leads to a higher likelihood of acquiring new customers who are genuinely interested in the offerings and have a higher conversion rate compared to other marketing channels.

  1. Cost-Effective Marketing

Referral programs are usually cost-effective. In contrast to traditional advertising, which typically demands significant financial investment, referrals can be a cost-free alternative (unless you opt to reward customers who generate successful leads). A big advantage is that you only pay for leads once they have converted, unlike other marketing efforts where the conversion rate is uncertain. This is why referral programs have demonstrated superior ROI than traditional marketing methods.

  1. Enhanced Customer Engagement

Referral programs can foster a sense of engagement and community among existing customers. Customers feel appreciated, which leads to increased satisfaction and a stronger emotional connection to the brand as well as other users. As customers engage in the referral process, they become more invested in the brand’s success, which leads to increased long-term business and further customer growth. 

  1. Measurable and Trackable Results

Referral programs offer businesses the advantage of tracking and measuring results. Through analytics systems and referral software, businesses can monitor the performance of their referrals in real-time. This data allows them to assess the effectiveness of their program, make necessary adjustments, and optimize their referral strategies. 

Where does ePay fit in? 

ePayPolicy recently introduced our newest referral program with Referral Rock; through which our customers can easily sign up and refer qualifying businesses. Both the referrer and referee earn $100 for each successful referral, which is a strategy used by many companies leveraging referral programs. If you’re a current ePay client, we encourage you to test it out, earn some money, and maybe even implement it in your business.

In conclusion

Referral programs have emerged as a highly effective marketing tool that harnesses the power of satisfied customers to drive business growth. The benefits they provide, such as trust-building, increased customer acquisition, cost-effectiveness, enhanced customer engagement, and measurable results, make them a valuable addition to any business’s marketing strategy. By leveraging the influence of word-of-mouth and incentivizing referrals, businesses can tap into a powerful network effect that propels their growth and fosters long-term success in today’s competitive marketplace.



5 Ways to Speed Up Your Receivables with ePayPolicy

by Business Strategy

Your cash flow depends on prompt client payment. Ultimately, speeding up receivables hinges on changing client behavior. 

Today I’ll share five tips to get paid faster, and how ePayPolicy can help.

Accepting digital payments is a giant first step. But I want to make sure you’re aware of all the features ePayPolicy offers to turbocharge your payment collection (and reduce those boring process tasks).

Tip 1: Make sure clients know they can pay you digitally

Paying insurance premiums via ACH or credit card is easy, convenient, secure and instantaneous. Yet, some ePayPolicy clients tell us they’re still collecting too many checks! 

The key to getting more payers to break their check/cash habit is awareness. Here are some easy ways you can promote digital payment and increase client adoption:

  • Use the co-branded flyer in your dashboard to send out with your invoices and newsletters
  • Use the Client Tool Kit to access custom graphics and copy
    • Let your clients know you’re now accepting digital payments via social media
    • Send an email blast or include your new offering in your newsletter
  • Include a PayNow button in your email signature and on your website
  • Make digital the #1 payment option on your invoices

Tip 2: Make payment foolproof

Paying bills is a hassle, it’s no wonder people put it off. But, we have a solution. 

Our Prefilled ePayPolicy Payment Pages allow payers to pay with a click of a button (seriously).  This page contains your payer’s information already filled out to simplify the process -the hard work’s done for them! This is convenient for all clients, but even more valuable for those who need that “extra nudge” to complete their payments on time. 

Tip 3:  Promote payer-friendly features

As noted in tip #2, we want to remove obstacles to prompt payment; reducing (or eliminating) clients’ time and effort with features like “save payment information” and “autopay.”

When you pay the same vendor regularly, it’s a pain to re-enter your payment information every time and many policies require multiple payments per year. Let policyholders know they can securely save their payment information (we use tokenization). They can even store more than one bank account, credit, or debit card.

For clients paying a variety of invoices throughout the year, AutoPay offers the ultimate convenience.* Just set it, forget it, and wait for the e-receipt confirming the payment was made. 

*Only available for integrated payment pages.

Tip 4: Create positive client touch-points

Send automatic invoice reminders for due and past due invoices on your behalf.* When the client clicks the link, the page prefills with their due invoices. And you score points for being so thoughtful.  

*Currently available with AMS360, Sagitta, AIM & MGA systems. (More coming soon).

Tip 5: Integrate ePayPolicy with your management system

We typically think of management systems in terms of its benefits to agents and staff. But having everything in one place, including payment processing, creates a seamless user experience. Clients don’t have to search for invoices, they’re pulled directly from the management system integrated with ePayPolicy.  

Let’s review:

The key to speeding up receivables is to get more clients to pay digitally. Digital payments are easy and convenient for them, and they put money into your account right away — when they pay. ePayPolicy is designed to make the entire process a breeze. Payer-friendly features like prefilled payment pages, automated invoice reminders, auto-pay and more make paying you a positive, convenient experience — and almost impossible to be late. All of these factors combine to encourage prompt payment, leading to better cash flow and smoother business for you. 

Contact support if you need help setting up any of these features.

5 Benefits of Offering Insurance Premium Financing

by Uncategorized

Premium financing is a financing arrangement that enables individuals and businesses to pay for their insurance premiums over time, rather than paying for them in full upfront. It works by allowing the borrower to obtain a loan from a premium finance company to pay for their insurance premiums, with the borrower repaying the loan over time with interest.

Offering premium financing presents various advantages for insurance companies and their customers. Because premiums can cost upward of thousands or tens of thousands of dollars, it’s become an industry staple for insureds to alleviate the cost of payment.

Why Offer Premium Financing?

  1. Attract New Customers
    Premium financing can be an attractive feature for potential customers who may be interested in purchasing insurance but are deterred by the upfront costs. By offering financing options, insurance companies can tap into a broader customer base and increase their sales volumes. This can also set you apart from competitors.
  2. Increase Customer Retention
    Premium financing can also help insurance companies retain their existing customers. It provides a convenient and flexible payment option, ensuring that customers can continue their coverage without financial strain. By offering financing, companies demonstrate their commitment to customer satisfaction and create a sense of loyalty.
  3. Financial Partnerships and Diversification
    Insurance companies that offer premium financing can form strategic partnerships with premium finance companies. These partnerships provide a reliable source of financing for customers, as well as potential cross-promotion opportunities.
  4. Revenue Generation
    Premium financing can create an additional revenue stream for insurance companies. While policyholders repay their premiums over time, the insurance company receives the full premium amount upfront from the premium finance company. This can improve cash flow and generate interest income on the financed premiums.
  5. Mitigate Risk
    Premium financing can help insurance companies mitigate the risk of non-payment. By partnering with a premium finance company, the insurance company transfers the credit risk associated with premium payment to the finance provider. This reduces the likelihood of policy cancellations due to payment delinquencies and helps insurance companies maintain a more stable customer base.

What About ePayPolicy? 

ePayPolicy recently announced a new product that enables insurance companies to offer premium financing options. Finance Connect allows insurance companies to work with their existing PFC partners to offer easy financing at online checkout. This new product “is going to help insureds pay faster and bind policies sooner, helping both insurance companies and their PFC partners,” said CTO Nish Modi.

Finance Connect combines the ease of integrated online payments with financing at checkout to help improve conversion rates and eliminate back-and-forth with your PFC partners. Finance offers and terms are presented up front, and PFAs are auto-generated. Once enrolled, auto-payment and payment reminders make payments and communication with insureds effortless. 

Learn more about Finance Connect here.

How Digital Insurance Payments Can Optimize Your Business

by Business StrategyDigital Payment Processing

A lot of people seem to have the misconception that implementing a digital payment option for their business is a big undertaking. In reality, not only can the process be easy, but it can also greatly enhance the customer experience. More and more consumers now have the expectation of being able to pay for services with credit card or ACH. Younger consumers, especially, don’t even own a checkbook.

Businesses that don’t offer digital payment options risk falling behind their competitors and losing customers. And if you feel like you have a more traditional customer base, you can still accept checks but also offer the option of digital payments for those who prefer it (and at ePay we even offer a way to make paper checks as easy as online payments).

Here are some ways digital payments benefit insurance companies:

1. Improve the Customer Experience
Many customers find the traditional payment process for insurance premiums to be time-consuming and cumbersome. By offering digital payment options, insurance companies can make the payment process faster, more convenient, and more secure. Customers can pay their premiums from anywhere, at any time, using their preferred payment method.

2. Reduce Manual Labor & Streamline Accounting
Traditional payment methods, such as checks and cash, require manual processing and handling, which can be tedious and costly. By implementing digital payment options, insurance companies can automate payment processing and reduce the need for manual handling. This also ensures accuracy of data and streamlined accounting.

3. Reduce Risk of Payment Fraud
Digital payment options, such as credit and debit cards, offer advanced security features that can help to prevent fraud. Additionally, digital payment processing systems can be configured to detect and flag suspicious payment activity, which can help to prevent fraudulent transactions.

4. Stay Competitive
In today’s digital age, customers expect businesses to offer a range of payment options. By failing to offer online payment options, insurance companies risk falling behind their competitors and losing customers.

 

In summary, implementing digital payment options is not a big change for most businesses, and it can provide numerous benefits for insurance companies. ePayPolicy is fully committed to simplifying the payment collection process for insurance companies. Our sign up request form takes 1 minute, and then our underwriting team reviews your submission and requests any additional details to verify eligibility. Once approved, our team sends final account signup instructions so that you can start collecting payments within 24 hours.

Easy sign-up with no contract, no signup fee, and you can cancel at any time.

 

30 Insurance Terms You Should Know

by Uncategorized

The insurance industry is an integral part of the modern economy, providing protection and peace of mind to individuals and businesses alike. With a wide variety of insurance products available, it can be overwhelming to navigate the terminology and concepts associated within the industry. That’s why we’ve put together a glossary of common insurance industry terms.  Whether you’re an insurance agent, broker, or policyholder, understanding these terms can help you make informed decisions and ensure that you have the right coverage for your needs.

The terms:

  1. Policy – A contract between the insurance company and the policyholder that outlines the coverage provided.
  2. Premium – The amount paid by the policyholder to the insurance company for coverage.
  3. Deductible – The amount the policyholder must pay out of pocket, in the event of a claim, before the insurance company pays their portion.
  4. Coverage – The amount of protection provided by an insurance policy.
  5. Claim – A request for payment made by the policyholder for a covered loss.
  6. Underwriting – The process by which insurance companies evaluate the risk of insuring an individual or entity.
  7. Risk – The likelihood of a loss or adverse event occurring.
  8. Insured – The person or entity covered by an insurance policy.
  9. Insurer – The insurance company providing coverage.
  10. Liability – Legal responsibility for something, such as an accident or damage.
  11. Umbrella policy – An insurance policy that provides additional liability coverage over and above your other insurance policies (protection against your assets if you were to be sued). You can have a personal umbrella policy which covers your home and auto, and then you can have a business umbrella policy which covers your business assets and commercial autos.  
  12. Endorsement – A change or addition to your insurance policy.
  13. Renewal – The process of continuing coverage under an insurance policy after the initial term has expired.
  14. Exclusions – Situations or events that are not covered by an insurance policy.
  15. Inclusions – Situations or events that are covered by an insurance policy.
  16. Benefit – The amount of money paid out by an insurance company for a covered loss.
  17. Agent – An individual who sells insurance policies and represents an insurance company.
  18. Broker – An individual or firm that acts as an intermediary between insurance companies and policyholders (can also be an agent).
  19. Indemnification – The process by which an insurance company compensates the policyholder for a covered loss.
  20. Actuary – A professional who uses mathematical models to evaluate the financial risk of insuring individuals or entities.
  21. Rate – The cost of insurance coverage, often expressed as a monthly or annual premium.
  22. Underinsured – A condition where the amount of insurance coverage is insufficient to cover the potential loss.
  23. Overinsured – A condition where the amount of insurance coverage on your policy is more than the potential loss (you are paying for more coverage than you can actually use).
  24. Cancellation – The termination of an insurance policy before the end of its term.
  25. Policyholder – The person or entity that holds an insurance policy.
  26. Subrogation – The process by which an insurance company seeks to recover costs paid out for a covered loss from a third party.
  27. Adjuster – An individual responsible for evaluating and settling insurance claims.
  28. Loss ratio – The proportion of premium dollars spent on claims and company expenses, compared to their profits.
  29. Insurance Fraud – Deception committed in order to obtain payment from an insurance company for a covered loss that did not actually occur.
  30. Solvency – The financial stability and ability of an insurance company to pay claims and meet its obligations.

 

We hope this glossary is a helpful resource for those within this industry. Understanding these terms can help you communicate more effectively with clients, evaluate risk and coverage options, and navigate the complex landscape of insurance products. As the insurance industry continues to evolve and adapt to changing market conditions, it’s more important than ever to stay informed and up-to-date on the latest trends and developments. By staying informed and knowledgeable, you can ensure that you’re providing the best possible service to your clients and protecting their interests for years to come.



7 Insurance Industry Predictions for 2023

by Business StrategyIndustry News & Company Updates

For the insurance industry, 2022 was a mixture of positive and negative events. On one side, premiums increased for both personal and business insurance, largely due to rising interest rates, geopolitical crises, and natural disasters.

On the other hand, many insurance organizations made innovative changes to differentiate themselves and stay ahead of the curve. “We saw insurtech solutions disrupt, automate and enhance process efficiency and increase overall production across all channels of insurance,” said William Trainer, with ePayPolicy. “Organizations leveraged the power of data and analytics to better their forecasting and business modeling.”

We spoke with industry experts and leaders to see what they’re expecting and hoping to see in 2023. Here’s the best of what they said:

1. Social Inflation

Of course, inflation impacted the insurance industry in 2022 and it will probably continue to do so. Michael Fusco, CEO of Fusco Orsini & Associates, predicts that the most significant impact in the industry this year will revolve around social inflation which refers to the rising cost of insurance claims, particularly in the areas of liability and workers’ compensation.

“We will now see pricing increases in liability insurance across all lines. Specifically to litigation costs (litigation funding), increased jury awards (anti-corporate sentiment and nuclear verdicts), broad policy form interpretation, and tort reform,” said Fusco.

2. Carrier Rates Will Increase

Some experts are predicting a substantial increase in carrier rates this year. Because of the Covid pandemic and inflation, many carriers took very minimal increases in the past three years to help out customers.

Nicole Gonzalez, Enterprise Sales Executive at ePayPolicy, says carriers are taking a 10%+ rate increase in 2023. She believes carriers will try to grow by mirroring large insurance companies like Geico and Nationwide. “Call center [models] can pump in a ton of leads and write new business, with less overhead than a brick and mortar location.”

David Carothers, Principal at Florida Risk Partners, predicts, “we will continue to see more and more carriers require full financial underwriting to look at the viability of businesses moving forward.” They will look more closely at their financials and in many cases, “require collateralization against any deductibles/SIR,” says Carothers.

3. Consumers Will Shop Around More

The ongoing pressures of inflation, the possibility of rising unemployment, and dwindling savings may cause consumers to be more price-conscious in 2023. Robert Hartwig, President of Risk Management and Insurance at the University of South Carolina, believes “this will likely result in more shopping around for insurance given that this is a ‘big ticket’ purchase for many households.”

Nicole Gonzalez also predicts customers will be shopping for their insurance more due to the rising carrier rates.

4. Investing in Customer Relationships

The industry experts we spoke to mentioned the need to focus investments for the year in customer relationships and customer retention. Michael Fusco believes that “the technology that continues to evolve and enhance the client experience” will have the biggest impact on the market. When investing in ‘disruptive’ technology, Fusco considers that client experience “should remain the goal for all.”

William Trainer directed our attention to the importance of digital payment processing for customer retention as well as business process improvements. “The payments automation functionality will not only shorten the time to collect outstanding receivables and reconciliation time, but also can automate and track payables, and promptly adjust your ledger immediately,” says Trainer.

5. AI Will Become More Mainstream

As cost of operations increase, insurance companies are looking for ways to automate manual, labor-intensive processes. Mark Engels, CEO of ePayPolicy, predicts AI implementation will be seen “across the entire customer engagement lifecycle, from underwriting to onboarding, policy servicing and payment collection and claims disbursement.”

David Carothers also believes machine learning will be big this year. “With the further development of bots to handle normal service tasks, we may be getting ready to see the single biggest threat to underperformers in our industry,” says Principal of Florida Risk Partners.

6. Leveraging Partnerships

As the Enterprise Partnerships Representative at ePayPolicy, William Trainer spoke to us about the importance of strategic partnerships during these times. They allow companies to “collaborate and develop better customer-centric insurance solutions, much more quickly, and more cost effectively.”

Partners do not only improve the customer journey, but also make it easier for insurance companies to grow and expand their market reach. Ryan Bosworth, CSO of XDimensional Technologies, believes that in 2023 roles will merge between agencies, MGAs, carriers, and other organizations in the hybrid world of insurance. “Retail agencies are opening wholesale divisions, and growing wholesalers have been given complete underwriting authority by their carrier partners. In addition, we’ve seen carriers investing in revenue streams via in-house MGAs or retail agencies,” says Bosworth.

7. Resilience in the Industry

Economic challenges present difficulties to the insurance industry just like they do to other industries. However, Robert Hartwig explains that “insurers are organized and regulated in a way that ensures they can continue to function normally even under the most stressful of economic circumstances.”

In the previous years, insurers were quick to deploy technologies that allowed them to service customers in the best way possible despite the rapidly changing economic and political environment. Hartwig believes that the “continued resilience and disciplined operational approach” of the insurance industry continues to prove itself, “just like it did during 9/11, the financial crisis, and other challenging periods.”

“I have every confidence that [this] resilience will remain intact despite a recession that most forecasters believe will occur in the second half of the year. Growth in the industry will slow as a result but longer-term trends in the innovation and deployment of technologies will continue,” says Professor Hartwig.

Is Your Agency’s Customer Experience at Risk with Paper Payments?

by Business Strategy

It’s Friday at 4:00 and you just ordered takeout from your favorite restaurant. Ideally, the ordering process was quick and easy, because your payment information was already in the system. Now, imagine instead that the restaurant would not accept your credit card and insisted you write a check.  Chances are you would look for another restaurant—not because you wanted to, but because this request made paying for your food such a hassle. 

You deserve a simple user experience (UX). And so do your insureds.

Here are 5 realities of today’s payment environment and why it’s important to offer digital payments instead of checks only. (Hint: it’s mostly about improving the customer experience, but also benefits your agency directly.) 

1) Catch a Rising Wave
The Federal Reserve has been tracking payment trends since 2001. Their most recent report states that debit and credit card payments have increased by 8.9%, while paper check usage has decreased by 7.2%. There’s no doubt which way the trend is heading.

2) Your Clients are Getting Younger
Think of the business owners you serve. Are they mostly 50+? 40-50 or 30’s? Under 30? These generations have very different payment preferences. And guess what? Checks are not the top choice of any group. Even the middle-aged Generation X are credit card-centric. Millennials and Gen Z consumers expect digital choices and the ability to pay from anywhere, anytime.

3) Checks are Expensive
Take a look at our blog post on the hidden costs of paper checks. Here’s a quick takeaway: Processing a check costs a business 10 times more than an ACH transfer, and receiving a check costs your agency five times more than an ACH payment. 
Contrary to paper checks, credit cards can actually benefit everyone involved in the payment process. Individuals (including business owners) often earn rewards for paying by credit card, and you can pass the processing fee on to the client using our payment platform. They are happy to pay it, because they are just happy to have the digital payment option—and the extra points can’t hurt!

4) Who’s Serving Whom?
We’re not avoiding the truth; people still do write checks—but it doesn’t mean they want to. It’s because some small businesses (including insurance agencies) are stuck in an old fashioned payment rut. Don’t be that small business! Be the agency that caters to your clients, or risk losing them to one that does.

5) Offer Instant Gratification
Insureds like to trace large payments. Checks are slow. They write and send (or hand deliver) the check, wait for you to deposit it, then wait for it to clear the bank. When submitting digital payments, a payment is confirmed immediately with an auto-populated confirmation, and typically an emailed receipt. ePayPolicy offers the same experience. Since our portal connects to most agency management systems, there’s automated documentation there, too.

 

Give the People What They Want
Insureds want and deserve superior service, and you want to offer it. That includes payment options that deliver convenience, speed, simplicity, and security. By accepting only checks, you’re denying clients all five benefits. You’re putting “that’s how we’ve always done it” ahead of the reality of your clients’ payment needs. Offering digital payments shows you’re serious about serving all your client groups, and technologically ready for tomorrow’s digital-only expectations. 

ePayPolicy Partners with Novidea’s SMART Management System

by Industry News & Company Updates

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

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

by Industry News & Company Updates
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