Premium Collection
Collecting monies and allocating to the relevant parties can often be an accounting headache. Through our automated system we can split premiums across different insurers, reserving on each insurers calculations. As well as providing commissions management we can split commissions across various levels of our partners business to improve cash flow and reduce admin resource requirements.
Through our technologically advanced systems we are able to collect customers monies in a variety of different ways from standard single premium payments to payment cards to Direct Debits. Direct Debit collections can be initiated on both a paperless and paper basis. Collections can be made on a range of frequencies such as weekly, monthly, quarterly, annually and our arrears management ensures the success and longevity of the scheme. Being able to offer our partners and their customers a range of options ensures that we can meet customers needs and market requirements.
Services include:
- Premium collection
- Premium invoicing and reporting
- Premium earnings, reserving and expenses calculations
- Commissions management
Direct Group provides this service across our four core product areas - Property, Motor, Accident & Health and Life.
