SEPA direct debits for insurers
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I am an insurer and I want to set up automatic direct debits.
Promote access to new insurance contracts by enabling my policy holders to pay for their annual policy cost in several instalments
What are the advantages of SEPA direct debits (SDD) for my policy holders and me?
Automatic SEPA direct debits will enable me to collect the due date policy cost amount on the set date from my policy holder’s account with an agreed frequency (monthly, quarterly, etc.).
- Direct debit regularity
- Reduced management costs
- No reminders to issue for our collections
- Spreading out subscription fees
- No more need for payment by cheque
- Benefit from promotional rates
How to manage automatic direct debits with Direct-debits?
- Save the details of my policy holder
- Ensure the direct debit mandate is signed on paper or remotely as an electronic version (e-mandate)
- Create payment schedules for SEPA direct debits by taking into account the chosen frequency (monthly, quarterly)
- Store our SEPA direct debit mandates (direct debit authorisations)
- In PDF format
- In electronic format (archiving the e-mandate)
At each due date, I can:
- Automatically generate files that conform to banking standards to be sent to our banks:
- By placing them on their website
- Or by the EBICS and FTP protocols
- Processing unpaid orders
- Monitor statistics and forecast direct debits by policy holder account or group of policy holders