Arrears Management
Arrears management software for life insurers
Simfuni helps life insurers identify missed payments, manage customer payment arrangements and automate arrears follow-up before unpaid premiums become lapses.
Benefits
Manage arrears earlier, with less manual follow-up
Clarify arrears status
Give teams a clearer view of overdue policies, outstanding balances, days past due and the next actions needed to resolve arrears.
Reduce manual follow-up
Automate key arrears steps, including failed payment handling, payment rescheduling, customer notifications and follow-up tasks.
Support retention
Help teams identify and manage missed payments earlier, before unpaid premiums become harder to recover or lead to lapse.
Enhance customer experience
Give policyholders clearer communication and self-service options to pay overdue premiums or manage payment arrangements.
Key capabilities
Resolve missed payments before they become lapses
Arrears are triggered by failed payments, not billing dates, so a policy is flagged as soon as a payment is declined. Simfuni can then automate notices, payment arrangements and follow-up tasks, while keeping operators in control when review is needed.
Promise to Pay
Schedule payments against an outstanding balance, either in full or across dates that suit the customer. Arrangements can be set up before arrears build up.
Payment-date changes
Reschedule selected payments earlier or later, with configurable limits that give customers more flexibility while helping keep the policy in force.
Premium waivers
Void selected payments so the customer is not charged, within the yearly and lifetime limits your organisation configures.
Missed payment workflows
The day after a payment is missed, the customer is notified through their preferred channel with the amount owed and how to pay.
Arrears follow-up
The outstanding balance is stacked onto the next scheduled payment under an automatic arrangement, giving operators one clear figure to chase.
Lapse prevention
Automatic rescheduling, self-service payment and clear days-past-due tracking work together to keep good policies from lapsing by accident.
How it works
Automated arrears management with operator oversight
A single arrears balance for each policy
Rather than tracking each failed payment separately, Simfuni manages arrears as one outstanding balance. When payments fail, the overdue amount can be added to the next due date with an arranged status, so operators see one clear figure to manage.
- Triggered by failed payments, not billing dates
- Days past due measured from the failed payment
- Configurable grace period for bank transfers
- Cancellation only occurs once your threshold is reached
