Simfuni is designed to make it as easy and hands-off as possible to handle policies in arrears. This includes:
- Automatically arranging missed payments to be re-attempted on the next scheduled due date.
- Allowing overdue amounts to be scheduled for payment straight away, either by the client themselves in the Client Portal or an operator in the Partner Portal.
- Providing different types of payment arrangements to support clients in bringing their premium payments up-to-date.
- Sending an automatic notification to the client the day after a payment is missed, with concise information on how to easily pay the overdue amount.
- Displaying up-to-date status information on every overdue policy, including a specific count of how many days past due the policy premium is.
- Presenting all overdue policies in an arrears worklist, for quick access and easy monitoring of outstanding accounts.
- Allowing for the automatic cancellation of policies that have gone too far in arrears.
Payment Arrangements
If a policy falls into arrears, an arrangement will automatically be set up to attempt to take the total outstanding balance on the next scheduled due date. In addition, Simfuni provides three different ways to manually manage upcoming policy payments, regardless of whether they have fallen into arrears or not:
- Promise to Pay (re-scheduling custom payment amounts)
- Change payment date (moving scheduled payments)
- Payment Waiver (writing off payments)
