Stopping Serial Non-payers
Most serial bad debtors abandon applications when confronted with request for payment of prior balances due.
Industry NPW Written Off Annually for Non-Payment
1.5%
Write-Offs In New Business (>3x more)
5 %
Challenge
Leading carrier experienced high cancellation rates in the direct channel. Customers were repeatedly purchasing policies and failing to pay the premiums.
Solution
idNoPay solutions were deployed in a carrier direct channel initiative, dramatically reducing bad debt losses to serial cancelers.
Other Case Examples
[How a Top Auto Carrier Turned Its Direct Business Into a Money Maker](/content/case-examples/how-a-top-auto-carrier-turned-its-direct-business-into-a-money-maker/ "How a Top Auto Carrier Turned Its Direct Business Into a Money Maker"/index.html)
[How Veracityid Stops Premium Write-offs and Early Cancellation in New Business](/content/case-examples/how-veracityid-stops-premium-write-offs-and-early-cancellation-in-new-business/ "How Veracityid Stops Premium Write-offs and Early Cancellation in New Business"/index.html)
[VeracityID Helped a Major Auto Carrier Reduce “Undisclosed Driver” Rate Manipulation](/content/case-examples/veracityid-helped-a-major-auto-carrier-reduce-undisclosed-driverrate-manipulation/ "VeracityID Helped a Major Auto Carrier Reduce “Undisclosed Driver” Rate Manipulation"/index.html)
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