UK-based insurer Policy Expert has joined forces with GoCardless to simplify the payment process for its pet insurance line.
This partnership enables customers to make monthly premium payments using Direct Debit, offering greater flexibility and convenience for policyholders.
Through the integration of GoCardless’ Direct Debit solution, Policy Expert aims to enhance its service by aligning with consumer preferences for monthly billing.
This approach supports the insurer’s wider mission to disrupt the insurance space using innovative technologies while delivering a smoother, more user-friendly customer experience.
Automating payment collection with GoCardless not only benefits customers but also brings operational efficiencies to Policy Expert. By reducing the administrative burden of chasing late or missed payments, the insurer expects to save both time and resources, enabling staff to focus on more value-added activities.
Rick Wilton, head of product (payments) at Policy Expert, said: “As a forward-thinking insurer, we are always looking for ways to make our customers’ lives easier. GoCardless offered an easy-to-integrate solution for our new pet insurance line, allowing us to remain competitive in the market by offering customers monthly payments.”
He continued, “We anticipate that in 2025, leading UK banks will be mandated to allow companies like us to collect recurring payments via open banking. This means that we’ll be able to instantly collect monthly payments from customers’ bank accounts, without waiting for several days to know if a customer payment has cleared or not. As experts in bank payments, we’re confident that GoCardless will be a great partner to help us offer more payment options to our customers.”
Pat Phelan, MD of UK & Ireland and chief customer officer at GoCardless, said: “We’re excited to collaborate with Policy Expert, a fast-growing company that is raising the standards of customer experience in the insurance industry. GoCardless is proud to power the payments for its new insurance line and we can’t wait to see the results. We look forward to strengthening our partnership in the future with the potential addition of Variable Recurring Payments and the capability to send payouts, further empowering Policy Expert’s customers with the flexibility to pay on their terms.”
This move highlights a growing trend in the InsurTech space, where insurers are increasingly adopting digital payment platforms to elevate customer experience and boost operational agility.
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