Today, insurance companies must work to improve profitability, grow their client base and compete in a heavily regulated and scrutinized industry. Demographic factors alone are forcing huge changes on underwriting and insurance product delivery.
The insurance industry has been one of the last to adopt modern payment methods and most insurance companies today are either limiting their payment offerings, or they are paying extremely high fees for payment processing.
ZAMCO has developed an approach for insurance firms that enable web-based payments, and efficient yet affordable lockbox and remittance processing. This allows our insurance company clients to accept all forms of payment.
Partnering with ZAMCO has allowed our insurance company clients to take payments over the phone, over the web, through a lockbox, and via preauthorized recurring payments that directly debit policy holders accounts on a regular schedule.