Quotes - Payment options

When processing a Bind in the CoverForce platform, there are three payment options available.

• Bill to Customer - where the insurance company will reach out directly to the insured party by email with billing instructions and payment terms. Agent on the BIND NOW screen will be prompted to select from the payment plans offered by the chosen carrier.
  
• Pay Now - where you can input credit card details from the customer into the platform. These details are sent directly to the insurance company. CoverForce encrypts the information that is sent to the insurance company and does not store credit card information.
  • Currently Pay Now is restricted to Coterie and Hiscox for immediate payment.

• Pay-As-You-Owe - A form of direct bill an agent can choose, that is an automatic debit process based off Payroll Run in the current cycle. No money down is required by the client. An Agent can choose the PAYO option from the drop down menu, then will be prompted to choose from the available Payroll services that have this option enabled. If the client does not have one of the allowed payroll services, this option will not be able to be chosen.
  • Currently Pay-As-You-Owe is only available for AmTrust Workers Compensation

For further assistance, Contact: support@coverforce.com with subject - Binding Question