AUSTIN, Texas, May 14, 2024 /PRNewswire/ -- Agile Premium Finance, a division of First Financial Bank, has integrated new capabilities through its partnership with ePayPolicy to simplify premium financing payments for clients in the insurance industry.

With ePayPolicy's latest feature release, Finance Connect, Agile now offers its customers convenient online financing enrollment and premium payment solutions. Finance Connect enables Agile customers to apply for premium financing – including e-signed premium finance agreements (PFA) – in a single, online session, utilizing secure connections to the customer's systems and popular industry management systems.

"We are excited to expand our insurance agency partner offering to include Finance Connect, and believe this will be a significant efficiency enhancement to all parties involved," stated Agile President and COO, Bob Przespolewski.

Since the start of the COVID-19 pandemic, e-commerce customers have grown increasingly familiar with "Buy Now, Pay Later" (BNPL) options at checkout - the retail equivalent of installment plans. Companies like Affirm and Klarna have become globally recognized brands, as a surge in online purchasing helped the top 5 lenders in that space grow 970 percent from 2019 to 2021 (source - CFPB).

The convenience of BNPL at checkout has been estimated to increase conversion rates by 20 to 30 percent, as well as increasing cart value by 30 to 50 percent (source). But unlike new BNPL entrants, many premium financing companies (PFC) have long-standing relationships with their partners, and need no justification for the value they bring.

"Central to the creation of Finance Connect was our intent to preserve existing partnerships with PFCs," added Mark Engels, CEO ePayPolicy. "We didn't want to try and take business from them or create a marketplace. We want to help both sides work together faster, for the convenience of the insured."

More information on Agile Premium Finance can be found at .

Key Features

• Allows insurance companies to work with their existing PFC partners.
• Premium financing options presented at checkout alongside pay-in-full options.
• Simplified financing enrollment and upfront terms for insureds.
• Easily generates consolidated PFAs.
• ePayPolicy is integrated with over 90 percent of the most popular agency management systems, saving time and manual data entry.

About ePayPolicy
ePayPolicy offers easier payment tools, built just for insurance. ePayPolicy's products bring insurance payments up to speed for agencies, carriers, MGAs and PFCs, with secure online payment pages, automated check processing, payables reconciliation and more. 8,000+ insurance companies trust ePayPolicy and their expert, live support team to handle their payments every day. Learn more: ePayPolicy.com

Media Contact:
Justin Jaksha
8443729300
[email protected]

SOURCE ePayPolicy