Stopping Serial Non-payers
Most serial bad debtors abandon applications when confronted with request for payment of prior balances due.
0
%
Industry NPW Written Off Annually for Non-Payment
>
0
%
Write-Offs In New Business (>3x more)
Challenge
Leading carrier experienced high cancellation rates in the direct channel. Customers were repeatedly purchasing policies and failing to pay the premiums.
Solution
idNoPay solutions were deployed in a carrier direct channel initiative, dramatically reducing bad debt losses to serial cancelers.
