November 7, 2018 by SNAP Financial Group
TORONTO, ON, NOV. 7, 2018/insPRESS/ – Earlier this month, SNAP Premium Finance launched Click N Pay; a new electronic way for brokers to offer a monthly payment option upfront with every quote at the click of a button.
What began as a solution to meeting the changing needs of businesses and consumers (who seek mobile payment solutions and greater flexibility in how they choose to pay) soon escalated into a streamlined solution for insurance brokers to collect on accounts receivable balances—materially increasing working capital and improving morale in the accounting department.
Reduce time on risk
“Brokers, Carriers and MGA’s can protect their business from unforeseen threats by adopting a solution that guarantees they get paid on time, every time,” said John Maragliano, Chief Financial Officer at SNAP Financial Group. “Click n Pay provides an easy way to quickly and securely send payment set-up forms to clients (without incurring any additional effort upfront), meaning the business receives their payments faster (without the need for manual continuous follow up) and eliminates the threat of being ‘on risk’.”
A more streamlined approach to payments
Traditional payment and collections processes are tedious and cumbersome. Click n Pay provides brokerages with a simple solution for the easy and efficient collection of payments, thus providing a better way to manage receivables and enhance cash flow. “We know the negative impact unpaid payments can have on brokerages,” John continues. “By changing the way payments are taken from the outset, Brokers, Carriers and MGA’s can alleviate the burden imposed on finance teams further along the collections process and free up working capital to reinvest in growing their businesses.”
About SNAP Premium Finance
SNAP has helped brokers, Carriers and MGA’s across Canada grow by providing them with turnkey and custom financing programs to offer their customers. Our payment programs and market leading loan origination systems allow companies to be more competitive, increase revenues and reduce operating costs by seamlessly integrating payment solutions into their businesses. Additional information about SNAP Premium Finance can be found at www.snap4insurance.com.