HomeCase ExamplesHow Veracityid Stops Premium Write-offs and Early Cancellation in New Business

How Veracityid Stops Premium Write-offs and Early Cancellation in New Business

Stopping Serial Non-payers

Most serial bad debtors abandon applications when confronted with request for payment of prior balances due.

0 %
Industry NPW Written Off Annually for Non-Payment
> 0 %
Write-Offs In New Business (>3x more)

Challenge

Leading carrier experienced high cancellation rates in the direct channel. Customers were repeatedly purchasing policies and failing to pay the premiums.

Solution

idNoPay solutions were deployed in a carrier direct channel initiative, dramatically reducing bad debt losses to serial cancelers.

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