Revolutionizing Pet Insurance Payments: Policy Expert Partners with GoCardless for Seamless Transactions
In a significant move to enhance the customer experience, UK-based insurer Policy Expert has partnered with GoCardless to simplify the payment process for its pet insurance offerings. This collaboration introduces a seamless way for customers to manage their monthly premium payments through Direct Debit, catering to the growing demand for flexible payment options.
Enhancing Flexibility with Direct Debit Payments
The integration of GoCardless’ Direct Debit solution is a strategic step by Policy Expert aimed at aligning with consumer preferences for more manageable billing options. This innovative approach not only simplifies the payment process but also supports the insurer’s goal of disrupting the insurance industry through technology.
Key Benefits of the Partnership
- Convenience: Customers can now make monthly premium payments effortlessly, ensuring they never miss a payment.
- Immediate Payment Collection: In anticipation of upcoming regulations in 2025, Policy Expert plans to leverage open banking for instant payment collection, enhancing cash flow and reducing wait times for payment clearance.
- Competitive Edge: This enhancement allows Policy Expert to stay competitive in the market by offering attractive payment options tailored to customer needs.
Statements from Leadership
Rick Wilton, head of product (payments) at Policy Expert, expressed enthusiasm about the partnership, stating: “As a forward-thinking insurer, we are always looking for ways to make our customers’ lives easier. GoCardless offered an easy-to-integrate solution for our new pet insurance line, allowing us to remain competitive in the market by offering customers monthly payments.”
Pat Phelan, Managing Director of UK & Ireland at GoCardless, also highlighted the partnership’s potential: “We’re excited to collaborate with Policy Expert, a fast-growing company that is raising the standards of customer experience in the insurance industry. We look forward to strengthening our partnership in the future with the potential addition of Variable Recurring Payments, which will empower Policy Expert’s customers with even more flexibility.”
Looking Ahead
The collaboration between Policy Expert and GoCardless marks a pivotal moment in the pet insurance sector, showcasing how innovative payment solutions can transform customer experiences. As the insurance landscape continues to evolve, this partnership sets a benchmark for providing pet insurance that meets modern consumer demands.
For more insights into the future of insurance and payment solutions, consider visiting GoCardless and learn how they’re reshaping the payment industry.
