SchemeServe is proud to announce two new enhancements to it's cloud based insurance software, aimed at further improving broker efficiency and customer retention rates. SchemeServe brokers now have the potential to both invite and renew multiple policies in batches within a specified date range.
Auto-invite of renewals alone is a significant step forward for brokers in terms of time saving and customer retention, but the additional auto-renew option with recurring card payments through SagePay, will further reduce time spent processing renewals on large books of business. To put this in to context, the average SchemeServe broker processing around 4,200 renewals per annum can expect to save approximately 8 working days per month thanks to these enhancements. This not only frees brokers up to conduct more value added customer facing activities, but also ensures that customers aren't ever knowingly unprotected, particularly on legally compulsory covers, both key factors when it comes to retention. Every 1% of renewal retention equates to on average £20,000 of premium, or more importantly, £5,000 of commission income.
John Price, COO SchemeServe, explains: “Our aim is to help make brokers lives easier and simpler and to introduce efficiencies at every touch point with our solution. We constantly strive to deliver enhancements to our system that not only offer exceptional service but genuine profitability improvements.
“Auto invite and renew will deliver significant income uplift from improved retention and efficiency savings by eliminating the routine work and time involved in case by case renewals. Automated premium calculations, renewal documentation in date specified batches, and payment processing, improves workflow and delivers a responsive service to policyholders.”
If you're an existing customer and this is a feature that you'd like to explore further, please contact your account manager, Tanya Manser, on 01223 926253