Premiums in on a durable rail, claims out fast
Pet cover is a monthly premium in and a claim payment out, and the payout is where the customer experience is made or lost. A claim that lands the same day is a renewal; a slow one is a cancellation. The collection should be durable and the payout should be fast.
Steady premiums, urgent claims
Premiums are a recurring monthly collection, and where they are billed to a card they leak to declines and expiry, turning a renewing customer into a lapsed policy for no real reason.
Claims run the other way and are time-sensitive: an owner who has just paid a vet bill wants reimbursing quickly, and a slow payout is the thing they remember at renewal.
Some claims are paid to the vet directly rather than the owner, adding a second payee to reconcile against the same claim and policy.
The payment mix that fits
Not one rail. The two to four that match how money actually moves here.
Collect monthly premiums on a durable mandate that does not expire like a stored card.
Pay claims to owners or vets the same day, referenced to the claim and policy.
Take the first payment or an annual lump sum over a bank link, with no card fee.
Your flow of funds, orchestrated
Premiums collect over Direct Debit, a durable mandate that does not lapse on card expiry, and annual payers pay over Pay by Bank. When a claim is approved, it is paid over Faster Payments the same day, to the owner or directly to the vet, referenced to the claim and policy. Premiums and claims reconcile against the policy on one ledger, so inbound and outbound sit in one view.
Every book moves money differently. We map your flow of funds and quote one integration across the rails that fit.
Related
Payments for pet insurance: FAQs
By collecting over Direct Debit, a durable mandate that does not expire or decline like a stored card, so renewing customers are not lost to involuntary failures.
The same day over Faster Payments, to the owner or directly to the vet, which is what customers remember at renewal.
Yes, a claim can be paid to the owner or the vet, each referenced to the claim and policy and reconciled on one ledger.
Tell us how you get paid
Send us the mix of payments you take and make, and we will quote one integration across the rails that fit, priced on your volume.