Feature Spotlight
Promise to pay
When customers fall behind on premiums, give them a manageable way to catch up - and a better chance of keeping their insurance cover.
What it does
Promise to Pay gives insurers a flexible way to help customers manage overdue premiums.
Rather than requiring the full outstanding balance immediately, operators can create a tailored payment arrangement, spreading the overdue amount across multiple payments. Each payment can have its own amount and date, allowing the arrangement to suit the customer’s circumstances.
Once created, the arrangement is visible alongside the policy’s upcoming premium payments, making it easy for operators to see what’s been agreed and what’s coming up.
Why it matters
For customers
More flexibility when money is tight, giving them a manageable way to catch up on premiums.
For operators
A simple way to create and manage payment arrangements, with clear visibility of upcoming payments.
For insurers
More opportunities to recover overdue premiums, reduce avoidable lapses and retain valuable insurance cover.