The 2019 Blue Ribbon Conference – IIABCAL


ePayPolicy had the pleasure of attending the Blue Ribbon Conference at the beautiful Monarch Beach Resort. The Blue Ribbon Conference, held at the beginning of May, not only focused on perfecting business practices, but it also insured that it’s participants had a little fun. While engaging in activities, we were looking over the breathtaking Pacific Waters, which added an overall sense of relaxation to the conference.

The conference offered an array of notary keynote speakers such as; Erick Dickerson, an NFL Hall of Famer, who spoke on the ability to succeed in any field as an Entrepreneur. Sarah Sladek, who presented her research on engaging the next generation in the workplace. Kate Browne, who pinpoints California’s climate and technology change as a barometer for the future of America.

Outside of listening to these knowledgeable speakers, we were able to enjoy a poolside gathering, designed to trade knowledge with like-minded industry professionals. There were also plenty of networking opportunities arranged during the conference. For instance, there were multiple gatherings in the beautiful wine room, dessert receptions for all, and a game of Texas Holdem to close out the event. There was even a golf tournament for attendees who like to take their conversations to the course.

“Coming events like these allows us to connect with the agents and understand their current pain points and strategic objectives. This combined with the information we receive from keynote speakers and panel discussions around industry trends allows us to continue to innovate around payment processing in the insurance industry” said Todd Sorrel, Co-Founder of ePayPolicy. “

A Business Guide to Surviving Any Natural Disaster

A Business Guide to Surviving Any Natural Disaster
2017 was a catastrophic year full of devastating storms. Harvey, Irma, Maria, Jose. The list of last year’s now-infamous hurricanes unfortunately goes on.

And as the rain and wind in 2018 continue to hammer down (many are still suffering setbacks of Hurricane Florence), it’s more important than ever to educate and prepare for inclement weather.

As a business owner, it can seem like spending time preparing for something out of your control is a waste of time. Or trivial. Especially in comparison to bringing in leads, serving customers, and improving general business.

But having a plan of action for natural disasters could be the difference between an organization sinking or swimming. Without a doubt, it is something any good business leader should have but hope to never use. Here are a few tips to help protect you from even the rainiest of days.

When it comes to being prepared for Mother Nature, checklists are your best friend.

 

1. Be Proactive
This is so important. Don’t wait until the eye of the storm is over your business to start reacting. Take charge. Make a preparation checklist. Check the weather reports regularly, especially during peak hurricane season. Purchase any gear or groceries you need BEFORE stores start to run out of everything and mobs of people begin fighting over bread, water, and generators.

2. Protect the Property
This one is a given. It’s in your best interest to do everything within your power to reduce property damage (and thus hopefully reduce repair costs). This can include sandbagging areas that have a high flood risk or installing shutters or plywood to windows and doors. You may also want to consider removing surrounding tree branches that could potentially fall on your building.

3. Protect the Gear
Inclement weather hardly ever equals good news for hardware. Whether you’re preparing for a flood, hurricane, tornado, or an earthquake, one thing remains constant: protect your gear.
Electronics are valuable, fragile, and expensive to replace. Take precautions as early as possible to avoid having to buy your whole staff brand new desktops. Move gadgets to an elevated area if you’re expecting floodwaters. Put them in the safest room in your office (one with no windows is ideal). Make sure to shut down computers and unplug machines, cables, and power surges.
Certain tech like external hard drives often hold lots of valuable and irreplaceable information and data. Which brings us to our next, very important, tip.

3. Back Up Data
Boy, is this a big one. Even if you are lucky enough to suffer no property damage, there is always a huge risk of losing important company data, customer insights, contact information, contracts, etc. And while it is challenging to recover from physical damage, losing crucial business documentation could be the end of your organization.

The easiest and most secure way to backup electronic data is by saving files to an external hard drive and then keep that hard drive with you. Do not leave it at the office. Wherever you go, the hard drive goes, too.

What data can your business absolutely NOT function without? Find out, then be sure to back it up on your hard drive.



4. Digitize Everything
Insurance is an old-school business. The industry is changing as insurtech continues to explode, but there will always be a few folks who still don’t do everything electronically. For the most part, this isn’t a problem. But where inclement weather is concerned it can be a huge issue.

If you have valuable paper documents, scan them ASAP and then save those files to the hard drive mentioned in tip #3. It’s still wise to place the physical documents in a Ziploc bag and store them in a dry area while you ride out the storm. But if they get swept away with the rain/wind/whatever, it’s not the end of the world…as long as you have a digital copy on your hard drive, of course.


Companies are constantly at risk. They are at risk of losing money, stagnant business, fierce competition, and on and on the list goes. Sometimes risk is outside of our control, but being proactive and preparing for the worst of Mother Nature is totally and completely within our power. There are no excuses.

According to an August 2017 article by the Associated Press, Hurricane Harvey damaged nearly 700 business in Texas alone. Each natural disaster means every business in the storm’s path is on the chopping block. So it’s up to you as your business’ leader to heed our advice and weather each storm before they arrive at your office door.

ePayPolicy Case Study: Higginbotham Insurance

ePayPolicy Case Study: Higginbotham Insurance

Executive Summary
Tony Haas, Controller at Higginbotham Insurance, noticed that customers were frequently asking for electronic payment options to pay their insurance policies. While Higginbotham did accept credit cards, it did not offer the choice to pay via ACH. Haas began searching for a more robust processor and finally stumbled upon ePayPolicy. Signing up, he said, was a must.

“We were getting requests from clients to pay electronically, and after seeing ePayPolicy’s demo, the ACH solution was a much better solution than a wire solution,” said Haas. “A client could either set up a wire account and send money to us, or they could just pull up ePayPolicy and pay us right there. It’s a much easier process,” he said.
“The simplicity of it made it a no-brainer.”

The Goals
Offer clients electronic payments
Integrate with management system, Sagitta
Speed up receivables
Bind policy faster
Streamline reconciliation process

The Results
ePayPolicy Co-Founder Todd Sorrel met Hass for the first time at NetVU 2017, and shortly after, the Higginbotham payment page was live.

After Higginbotham was up and running, it was immediately able to offer clients the option to make electronic payments. Now, the insurance company is able to accept both credit cards and ACH, with payments seamlessly integrating into its management system Sagitta (powered by Vertafore). The technology has allowed them to bind business much faster.

“As soon as customers make payments, we’re getting email notifications to let us know that a transaction is in process,” said Haas. “We can bind things immediately and move onto the next project, instead of waiting a few days.”

Haas said the processor has cut down the reconciliation process by two business days and that ePayPolicy & its ability to integrate with Sagitta has streamlined Higginbotham’s overall process.


“Anytime you can do electronic payments, versus sending an actual check, it makes the whole process easier,” said Hass. “Handling checks is old school.”

The Extras – Hig Helps Page
After Hurricane Harvey tore through Houston last year, Higginbotham reached out to ePayPolicy for help in setting up a donation page for those affected by the storm. Harvey had completely devastated the homes of several Higginbotham team members, and the organization wanted a way to help them through the rebuilding process.

“It was fantastic what ePayPolicy did to help us get that page up and running. We raised about $150,000,” said Haas. “It was a big help to get money and help out to our employees that were hurting.”


Higginbotham Insurance offers risk management and financial services, providing access to commercial and personal property/casualty coverage, employee benefits, retirement plans, life insurance, and executive compensation plans through more than 250 regional and national carriers. As of 2017, the company is ranked #18 on Insurance Journal’s annual list of Top 100 Property / Casualty Agencies. There are over 25 Higginbotham offices in the state of Texas.

Paradiso Insurance, a Yardstick of Quality

The value of good marketing cannot be overstated. If your marketing plan isn’t working (or worse, if you have no marketing plan at all), your organization won’t last long.

You can count on that.

The Internet and social media have made marketing more accessible. But they’ve also created a massive cloud of competition and a hailstorm of noise.

We live in a world of sensory overload. Every company is fighting for consumer attention. With millions of organizations vying for eyes and business 24/7, how do you make yourself stand out?
“Be a yardstick of quality.”

The advice comes from someone who knows a thing or two about marketing, the iconic CEO of Apple, Steve Jobs.

When I think about the insurance space and who makes a good “yardstick” of quality, one name in particular stands out – Chris Paradiso.

Paradiso started his own insurance business in 1998 with just three employees. Today there are over 15 team members and counting, and Paradiso has grown his company and brand into an insurance powerhouse.

Paradiso Presents, LLC is at the forefront of that powerhouse. It began as an endeavor Chris started in order to “teach small agencies how to survive in today’s complex online marketing world.” Since the LLC’s inception, it has grown into one of the most reputable resources for small agency survival.

One facet of Paradiso Presents is the popular industry magazine Be the Last Agent Standing. The publication is one of those tools that belongs in any agency’s survival kit. New and experienced insurance professionals alike will benefit from Last Agent. Readers can expect insight like marketing tips, tricks, and tools designed specifically to help insurance folks grow their business.
Everything from building a brand to search engine optimization to Google Analytics is discussed. Nothing is off the table. Nothing is overlooked. With so much information on the Interwebs these days, it’s difficult to sift through what’s valuable and what’s just fluff. Fortunately, Last Agent is chalk full of rich, valuable, pearls of wisdom from the man himself.

“What Chris does with Paradiso Presents and Last Agent is truly a testament to how well he knows the insurance landscape,” said Milan Malkani, my partner and fellow ePayPolicy co-founder.
“He’s been in this business a long time and still finds all these ways to keep things fresh and fun and current. I think a lot of agencies can learn from him.”


Digital marketing is undoubtedly a frontier that is overwhelming for many. There are a lot of new tricks to learn and insurance is an old business. One that has historically used more “traditional” methods.

For example, using print ads (instead of digital ones), and paper checks (instead of electronic payment processors). However, insurance has gradually been shifting towards a more tech-based industry. And while some are happy with this shift, many are not.

Luckily, there are organizations like Chris Paradiso’s that are dedicated to helping those who do feel overwhelmed. The goal is to elevate the industry and level the playing field. With Paradiso, even the little guys and underdogs have a fighting chance.

What the magazine represents is so much more than articles printed on paper. Be the Last Agent Standing is an integral part of a larger puzzle — a good marketing foundation for budding insurance agencies.

“Any agency worth their salt will pick up Chris’ magazine,” said Malkani. “Everyone can learn something from Last Agent.”

Do something great with the ePayPolicy InsurTech Award!

Do something great with the ePayPolicy InsurTech Award!

We’re less than a month away from closing applications for the ePayPolicy InsurTech Award!
ePayPolicy believes that great technology can change the insurance world. That’s why we are committed to recognizing the agency that has best adapted and leveraged technology to grow and improve their sales, marketing, and customer service in 2018.

Additionally, each applicant will receive an Insurance Technology Adoption Score (i.e. an “ITA Score”), a subjective measure of an agency’s tech adoption in the insurance space, along with comprehensive reporting including feedback, tips, and opportunities to improve that score.
If you haven’t entered yet, there’s still time!

Apply now to win $7,500 in prizes, including:

– A $1,000 cash prize
– $1,000 toward an insurance conference of winner’s choice
– Two FREE years of ePayPolicy’s Custom Plan
– Consulting time with Mike Stromsoe and Chris Paradiso
– Website services with Alicor Solutions
– A gift basket stocked with local treats from AustiNuts
– BRAGGING RIGHTS!

Do something great,
apply for the ePayPolicy InsurTech Award today.

Modern Mobility

Modern Mobility

“If it’s not broken, don’t fix it.”

This is a common phrase people use to convey that if something works at least somewhat well, then leave it alone. It’s good enough.

This is sound advice for some things, like if you have a perfectly good car but want a new one, just because.

However, this practice falls short in other areas of life. Take insurance for example. Insurance is an industry that places heavy emphasis and value on tradition. And in this case, tradition dictates that business practices remain largely the same, and adopting new tech isn’t necessary since, after all, what’s already in place is good enough.


“If it’s not broken, don’t fix it.”
Not so fast. Let’s talk payments.
Insurance professionals everywhere have been accepting paper checks since the dawn of the modern insurance industry. The practice reigned supreme for a long while, and for some agencies, it is still the preferred way to accept payments from insureds. However, paper checks, and its cousins wire transfers and cash payments, come with a slew of caveats and complications.
Both paper checks and cash have to be snail-mailed or handed off in person. Wire transfers are costly, require a ton of manual work, and both of the participating banks require representation on the phone to initiate the transfer.

What if an agent is pressed for time and needs those funds immediately? Every insurance professional has been there — when it’s 4:45 PM on a Friday, the banks are closing soon, and there’s nothing to do but watch the clock tick by while waiting on the insured, impending doom hanging overhead.

“Inconvenient,” is an understatement.

Traditions are great. But even good ones need updating every once in a while.
That’s where electronic payments come into play.


According to a Federal Reserve Payments Study, paper checks have been on a staggering 6% yearly average decline since 1999, and by 2014, only 3% of consumers said they preferred to use paper checks.

Conversely, and unsurprisingly, the preference for electronic payment options has been on the rise, with the Federal Reserve Study reporting that credit card payments were recorded as the “highest growth rate” (at a 10.2% increase) among core payment types from 2015-2016.

At the end of the day, e-payments are undeniably more convenient and easier to track than old-school methods.

“In our space, if you don’t have an electronic payment solution, you’re way behind the times,” said Russ Goldstein, President of Agile Premium Finance.

It’s truly astonishing what a little mobility can do to help a business’ overall bottom line.
For insurance professionals and customers, the entire process of making and accepting payments has flipped on its head. Funds can be remitted in seconds and deposited into a bank account just as quickly.

This instantaneous gratification may seem the norm in 2018, but a few years ago this was still unheard of.

More and more, insurance professionals everywhere want a more seamless, end-to-end solution for tracking and reconciling payments. Paper checks, wire transfers, cash, and the like may not be broken, but that doesn’t mean it’s the best option.

With mobile payments, the question isn’t “why?” it’s “why not?”

ePayPolicy is the simplest way to collect insurance payments online. The processor allows insurance professionals to accept electronic payments via credit card and ACH, while also allowing agents and brokers to pass on transaction fees to the insured. ePayPolicy serves over 800 national clients and continues to expand its growing list of independent association endorsements and management system integrations each day. To find out more, visit www.epaypolicyhome.staging.wpengine.com.

Accelerating with NetVU

Accelerating with NetVU
If the yearly conference circuit is equivalent to the NFL’s football season, then NetVU’s Accelerate is the insurance industry’s Super Bowl. And like any good Super Bowl, Accelerate 2018 was exciting, buzzing with energy, and an absolute blast!

In the months leading up to the much-anticipated show, the entire ePayPolicy team worked with our heads down, toiling away on prepping our booth, swag, travel plans, and more. When it was finally showtime, Todd and I were more than itching to get to Atlanta.

Anyone in the insurance space knows that Accelerate is all about taking advantage of opportunities. Whether your goal is to build relationships, spend time with customers, network, pitch, or just have fun, opportunity is there for the taking.

Luckily for us, all of those aforementioned things were goals of ours, and I’m proud and pleased to say we were successful in hitting each of those goals — and then some.

Any chance we have to spend time with current or potential customers, as well as the Vertafore team, is a chance to build and solidify relationships, which is the most important thing for us at ePayPolicy.

And it might be the most important thing for anyone in the insurance industry, for that matter.
Todd, myself, and the rest of the team are all still coming down from the adrenaline high of last week. (Is it too early to start thinking about Accelerate 2019?) Thanks to all that stopped by our booth to learn about our payment processor (and grab some swag, which we completely ran out of!).

And an especially big thank you to NetVU for hosting the insurance event of the year, Vertafore for chatting, laughing, and sharing meals with me and Todd, and all of our amazing clients that stopped to snap pictures with us.

Cheers!

"Success in simplicity"

"Success in simplicity"

Insurance is one of the oldest industries, and the opportunity for innovation, disruption, and growth is ripe and for the taking.

Built In Austin (the local site of the larger Built In, the Chicago-based company) noticed what we’re doing at ePayPolicy and piqued their interest.

A few weeks ago, our team had the pleasure of speaking with Kelly O’Halloran with Built In, and we chatted about everything from tech, to the insurance space, to ePayPolicy’s plans for the future. Needless to say, we were thrilled. It was a great way to shout our message from the rooftops. And that message is: We make insurance payment processing simple. That’s it.

We really wanted to stress that what we do is relevant and exciting because there’s a need and demand for electronic payments, but that what we do isn’t rocket science.

We’re just the best at it.

Click here to read the full article on Built In Austin.

ePayPolicy is NetVU’s newest Silver Corporate Partner

Netvu Silver Partner

We’re excited to finally announce that not only is our product is offered as a Technology Solution Provider, ePayPolicy is also NetVU’s newest Silver Corporate Partner.

About NetVU:
NetVU is an independent, national member organization committed to providing industry advocacy, world-class education and networking to the more than 30,000 insurance agencies, carriers, MGAs and compliance organizations, and over 500,000 users of Vertafore solutions.

About Us:
ePayPolicy provides a simple and efficient way to collect
online insurance payments. We help clients speed up receivables, bind business faster, and create a positive payment experience for their customers.

We enable organizations to accept both credit card and ACH payments, effectively eliminating the need for paper checks and improving an agency’s bottom line.

Product Benefits:
– Pass on transaction fees
– Integrates to with many management systems, including Vertafore’s Sagitta, AIM and FinancePro
– Endorsed by over 10 independent insurance associations
– Convenient and user friendly
– & more!
About the Partnership:
Thanks to our new partnership, ePayPolicy is now part of the NetVU Community (NCOM) – a gathering place for other members to share the latest automation information, as well as trends and tips on how to make their businesses more successful.
We’re jazzed to be part of a community with other like-minded, tech-focused insurance professionals. From agencies, to carriers, to compliance officers, the group of individuals and organizations that make up NCOM are diverse and talented, and our team is proud to call ourselves a Technology Solution Provider of NetVU.

To learn more about ePayPolicy:
https://epaypolicyhome.staging.wpengine.com/
To learn more about NetVU:
https://www.netvu.org/web/