Agile Premium Finance (Agile) is one of our longest-running partners and in many ways we have grown up together. Agile has been offering digital payments through ePayPolicy since their founding in 2017. President & COO Bob Przespolewski describes the relationship this way: “We’ve grown together to provide our customers an easy and convenient tool to make their ACH or credit card payments online.”
Providing convenience and efficiency
As a premium finance company (PFC), Agile services P&C agents and their insureds nationwide. “We provide convenient and efficient premium financing solutions to our customers to improve cash flow, preserve working capital, and retain funds for projects, expenses, and investments,” explains Bob.
Offering digital payments aligns perfectly with Agile’s innovative approach and service philosophy of convenience and efficiency. Agile is one of the rare ePayPolicy clients that started their business offering digital payments from day one.
Bob says: “There was never a question of whether or not we would be accepting digital payments. Our biggest question was who was going to be our business partner.”
Agile’s main concern was the security of information collected and the ability to pass that information seamlessly from their system to the payment processor. “We did review other vendors, but there was no doubt ePayPolicy was the only solution that made sense for our business,” Bob says.
Note that data security has always been a top priority at ePayPolicy. Agile Premium Finance handles a high volume of large premium payments and could not risk a data breach. Our PCI Level 1 compliance status gave (and continues to give) them peace of mind.
“Launching ePayPolicy was one of the smoothest launches we’ve experienced. They were there to answer our questions and make sure we were all comfortable with the process,” Bob recalls.
How Agile uses ePayPolicy
Agile accepts both down payments and monthly installments for insurance premium finance agreements from their insureds.
“The ability to accept payments digitally is the most convenient and efficient option for our insureds, our agents, and for our team,” says Bob. He continues, “Customers have the choice of ACH or making credit card payments online through our portal, utilizing our pay-by-phone system, or setting up a monthly recurring payment.”
Yet even with all these options to pay digitally, many insureds still pay by check. He says that Agile will always accept checks. But as early adopters of digital payment, they appreciate and continue to promote its many benefits—for all parties involved.
Bob’s accounting teams also utilize ePayPolicy’s reports to reconcile accounts on a daily/monthly basis.
The biggest benefits of ePayPolicy
Bob doesn’t hesitate on this question. “The ease of my insureds making their payments, or my customer service team making payments on behalf of our insureds.”
“The integration to our Premium Finance Software is the key feature for us,” says Bob.
In fact, when asked how ePayPolicy could improve, Bob suggested we ”continue to work on expanding integration options with outside vendors.”
Advice for other PFCs
Bob Przespolewski is unequivocal in his recommendation. “There is no question that every PFC should be accepting digital payments and there is no one easier to work with than ePayPolicy.”
About Agile Premium Finance
Agile Premium Finance is a Division of Valley National Bank and a leader in the insurance premium finance industry. An innovative and progressive organization, Agile Premium Finance serves agents and their insured(s) across all 50 states, providing convenient and efficient premium financing solutions to customers to improve their cash flow, preserve working capital, and retain funds for projects, expenses, and investments.