May 22, 2024
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American Farmers & Ranchers Mutual Insurance selects InvoiceCloud as its Dedicated Payments Provider

REPRESENTATIONAL IMAGE Free images from Freepik

American Farmers & Ranchers Mutual Insurance has selected InvoiceCloud, a leading solution for digital bill payment services, as its dedicated payments provider to enhance policyholder experience and reduce manual processes.

AFR Insurance logo taken from website; InvoiceCloud logo taken from Businesswire

As one of the oldest insurance companies in Oklahoma, AFR Insurance provides auto, home, farm, and life policies to more than 150 communities throughout the state, and prides itself on delivering best-in-class insurance products and services to its policyholders. When the time came to update its online payments system, AFR wanted a solution that offered a user-friendly, engaging experience for all ages. InvoiceCloud fit that build with its modern, digital payment experience, including intuitive self-service options and personalized payment reminders to help decrease policy lapses and drive digital adoption.

Bernadette Autrey, Chief Financial Officer, American Farmers & Ranchers Mutual Insurance
Image taken from AFR Insurance website

“InvoiceCloud gave us the modern digital payment experience our policyholders wanted and provided dedicated support to ease any concerns we had. The best part is the rise in self-service payments has kept costs down as we’ve grown our base,” said Bernadette Autrey, Chief Financial Officer, American Farmers & Ranchers Mutual Insurance.

Since implementing InvoiceCloud in 2022, AFR Insurance has seen a 97% policyholder retention rate and a 48% increase in AutoPay adoption in its first 12 months live. As a result of digitizing payments, the company has also seen the average age of policyholders and agents lowered by nine years. InvoiceCloud’s variety of payment options such as online, by text or phone, AutoPay, digital wallets, and more, allows organizations like AFR Insurance to address a range of policyholder preferences, helping them better attract and retain policyholders of all ages.

Kevin O’Brien, CEO of InvoiceCloud
Image taken from InvoiceCloud website

“We are proud to provide AFR Insurance the reliable, digital payment experience that today’s policyholders have come to expect,” said Kevin O’Brien, CEO of InvoiceCloud. “Together, we are driving levels of self-service and digital adoption that save agents valuable time and resources, enabling increased focus on supporting policyholders and their communities.”

Source

For information on new digital payments by companies, please read:

Zebec Launches Modern Payroll and Payment Solutions in Japan

British Banking: A Journey to the Heart of Financial Innovation

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