EmPRO Insurance Company (“EmPRO” or “the Company”), a licensed medical liability insurance carrier based in New York State, saw a 211% increase in electronic payment adoption in its first year of going live with InvoiceCloud’s integrated solution. InvoiceCloud, an EngageSmart (NYSE: ESMT) solution, offers a true SaaS online bill payment solution that is designed to turn one-time e-bill payers into fully engaged self-service customers. In the year following its implementation of InvoiceCloud in May 2021, EmPRO also saw a 7x increase in AutoPay adoption among policyholders.
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EmPRO selected InvoiceCloud’s intuitive solution to improve self-service offerings and expand payment options for policyholders. Through InvoiceCloud, EmPRO policyholders can now pay their insurance bills via digital wallets like PayPal and Venmo, Pay by Text, and Pay by Phone, as well as via traditional methods. The Company has found that these payment options, along with InvoiceCloud’s other easy-to-use features—including scheduled payments, and text and email notifications—have resulted in an improved user experience and increased self-service. And with InvoiceCloud’s customizable resources, EmPRO can run marketing campaigns to encourage customers to utilize its new, flexible payment options.
The digital experience is further improved for policyholders by InvoiceCloud’s direct integration with Sapiens’ OASIS, the Company’s core billing software. Once invoices are available in OASIS, policyholders are notified through various delivery channels and the invoices are transitioned seamlessly to the InvoiceCloud portal, where they can be reviewed and downloaded.
As a result of the increased e-adoption realized with InvoiceCloud, EmPRO has experienced a decrease in call volumes and manual payments, saving their team time and money that can be reallocated to other important projects. EmPRO reported that the combined InvoiceCloud and Sapiens offering made for a smooth implementation and more efficient user experience for the Company’s employees. Processes that were previously completed manually, including importing Lockbox files and reconciling payment information, are now automated, and payments made on the InvoiceCloud portal are quickly integrated into OASIS, so employees always have access to the latest information.
“InvoiceCloud transformed our payments process and allowed us to meet the needs of our customers with intuitive, flexible, and convenient payment options,” said EmPRO Insurance Chief Financial Officer Adam Petersen. “The smooth implementation process, excellent customer support, and reduced manual processes have enabled our busy staff to focus on supporting customers in other critical areas.”
Read more about EmPRO’s story here.
About EmPRO Insurance:
EmPRO is a licensed medical professional liability insurance carrier headquartered in New York State and dedicated to protecting New York’s physicians, healthcare facilities, and healthcare providers. A subsidiary of Physicians’ Reciprocal Insurers (PRI), EmPRO is capitalized with over $100 million and is managed by PRIMMA LLC, PRI’s wholly-owned attorney-in-fact. EmPRO provides New York’s medical community with personalized underwriting services, aggressive claims defense, and effective risk management strategies. Learn more at www.myempro.com.
InvoiceCloud, an EngageSmart solution, is a leading provider of online bill payment services. Founded in 2009, the company has grown to be one of the leading disruptors in the cloud-based electronic bill presentment and payment (EBPP) space, helping institutions put customer experience first. By switching to InvoiceCloud, clients can improve customer engagement, loyalty, and efficiency while reducing churn and missed payments in the process. To learn more, visit www.InvoiceCloud.com.
Sapiens International Corporation (NASDAQ and TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. Backed by more than 40 years of industry expertise, Sapiens offers a complete insurance platform, with pre-integrated, low-code solutions and a cloud-first approach that accelerates customers’ digital transformation. Serving over 600 customers in 30 countries, Sapiens offers insurers across property and casualty, workers’ compensation and life markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management. For more information visit https://sapiens.com or follow us on LinkedIn.
EngageSmart is a leading provider of vertically tailored customer engagement software and integrated payments solutions. At EngageSmart, our mission is to simplify customer and client engagement to allow our customers to focus resources on initiatives that improve their businesses and better serve their communities. EngageSmart offers single instance, multi-tenant, true Software-as-a-Service (“SaaS”) vertical solutions, including SimplePractice, InvoiceCloud, HealthPay24 and DonorDrive, that are designed to simplify our customers’ engagement with their clients by driving digital adoption and self-service. As of December 31, 2022, EngageSmart serves 99,300 customers in the SMB Solutions segment and 3,300 customers in the Enterprise Solutions segment across several core verticals: Health & Wellness, Government, Utilities, Financial Services, Healthcare and Giving. For more information, visit www.engagesmart.com and follow us on LinkedIn.
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