Arrears Management
Help customers get back on track
Identify missed payments early and give customers more ways to resolve them. Simfuni brings arrears monitoring, communications, payment arrangements and self-service together in one connected process, helping insurers reduce lapses while supporting customers through payment difficulty.
Benefits
Turn missed payments into opportunities to retain customers
A missed payment doesn't have to mean a lost policy. Simfuni helps teams respond quickly, communicate consistently and provide flexible ways for customers to catch up, while keeping every arrangement and outstanding balance connected to the policy.
Act earlier
Identify overdue policies as soon as payments are missed, giving teams more time to intervene before a policy is at risk of lapse.
Reduce manual follow-up
Automate arrears communications, reminders and workflow activities so operators can focus their attention on customers who need additional support.
Give customers more ways to catch up
Support different circumstances with flexible options for resolving arrears, from immediate payments through to payment arrangements and temporary relief.
Protect valuable policies
Create a more supportive arrears experience that helps customers maintain cover and gives insurers more opportunities to improve persistency.
Key capabilities
Flexible arrears management built around the customer
Not every missed payment has the same cause or the same solution. Simfuni gives operators and customers a range of tools for resolving arrears while keeping balances, arrangements and policy status connected.
Arrears worklists
Give operators a clear view of overdue policies, outstanding balances and customers requiring attention.
Immediate payments
Allow operators to collect all or part of an overdue balance using the customer's existing payment method.
Flexible payment arrangements
Adjust scheduled payment dates or provide temporary relief where appropriate, helping customers manage short-term payment difficulty.
Automated communications
Trigger arrears notifications and reminders through the customer's preferred communication channel, with clear information about what is overdue and how to resolve it.
Promise to Pay
Record agreed future payment dates, allowing customers additional time to resolve an overdue balance while keeping the arrangement visible to servicing teams.
Payment waivers
Waive individual payments where permitted, updating the policy balance so the waived amount is no longer outstanding.
How it works
From missed payment to resolution
Simfuni manages arrears as a connected part of the policy and payment lifecycle. Missed payments are identified automatically, customers can be given different ways to catch up, and policy status stays aligned as payments and arrangements are made.
Know who needs attention
When a payment is missed, Simfuni identifies the overdue amount and makes the policy visible through arrears worklists and policy status. Automated communications can notify the customer and provide clear options for resolving the missed payment.
- Clear overdue balances
- Arrears worklists for operators
- Automated email, SMS or postal notifications
- Policy status updated as arrears change
Find the right way to get back on track
Operators can respond to the customer's circumstances rather than applying a single arrears process to everyone. Take an immediate payment, agree a Promise to Pay, change a scheduled payment date or waive a payment where appropriate, with each action recorded against the policy.
- Full or partial overdue payments
- Promise to Pay arrangements
- Deferred or changed payment dates
- Payment waivers
- Clear visibility of active arrangements
Let customers resolve arrears themselves
Customers can be notified when a payment is missed and resolve overdue balances directly through self-service. They can review the amount owing, update their payment method if necessary and make an overdue payment. Once successfully processed, Simfuni automatically updates the policy to reflect the new position.
- 24/7 access to overdue balances
- Self-service payment method updates
- Online payment of arrears
- Automatic policy status updates
- Failed payments remain visible for further action