AFCO Direct Partners with ePayPolicy to Make Financing Easier for Insurance Industry

LAKE FOREST, Ill., April 25, 2024 /PRNewswire/ -- AFCO Direct, one of the nation's leading providers of insurance premium finance, has partnered with ePayPolicy to make AFCO Direct's premium financing solutions more accessible to the insurance industry.

ePayPolicy simplifies and automates insurance payments for agencies, brokers, MGAs, and carriers, and integrates with more than 90% of the most popular insurance agency management systems. Under the partnership, ePayPolicy clients that use Finance Connect can incorporate AFCO Direct's premium finance solutions in their checkout process.

By using ePayPolicy's new feature, AFCO Direct clients can now enroll in financing - complete with e-signed Premium Finance Agreements (PFAs) and automatic payments - in a single online session through a secure connection to AFCO Direct's systems and their own management systems.

"ePay is a trusted payment provider for the insurance industry and this partnership enhances the financing capabilities they are able to provide agencies," said Mike Pappas, COO of AFCO Direct. "We share a similar vision of providing insurance agents leading digital solutions to grow their business and reduce costs associated with collecting premiums, while also providing flexible payment options to insureds."

At checkout, insureds will have choice in their transaction with premium financing and pay-in-full options presented side-by-side. Those who select premium financing can immediately complete simplified financing enrollment with upfront terms. AFCO Direct's premium finance solutions are another option for insurance companies that can continue to work with their existing PFC partners.

"Central to the creation of Finance Connect was our intent to preserve existing partnerships with PFCs," added ePayPolicy CEO Mark Engels. "Integrating AFCO Direct's solutions into our payments tools is a win-win that provides new capabilities for our clients and added convenience for the insured."

"Integrating our products is just the beginning," added Pappas. "As innovators in our respective fields, we will continue our endeavor to make paying premiums easy, fast, and secure."

About AFCO Direct
As a leader in premium finance, AFCO Direct supports insurance agencies by developing customized financing programs for their insureds. Our goal is to ease administrative duties for agents, improve cash flow for insureds - and provide easy-to-use technology for both. AFCO Direct has transformed its business with digital offerings designed to assist our agency partners by providing premium collection, billing, and invoicing solutions. Our innovative tools and technology make premium financing easy, simple, and fast, freeing up our agents' valuable time and helping them to maximize their profitability. Learn more: afcodirect.com 

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

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Media Contact:
Justin Jaksha
512-968-4655
[email protected]

SOURCE AFCO Direct