
Benefits
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We provide underwriters with cost-effective means of collecting customer’s monthly premium payments, which are PCI compliant.
We easily integrate with the way you already do business.
We provide underwriters with cost-effective means of collecting customer’s monthly premium payments, which are PCI compliant.
Underwriter receives full annual premium at 30 days from inception date of policies.
Introducer receives full commission/incentive based on annual premium at renewal/inception (if applicable).
Monthly premiums are collected on the due date & dishonours are actioned on the day of dishonour.
Retention rate is high with easy rollover at renewal (no re-application needed).
Flexible integrated system can handle all aspects of underwriter’s interface with customer’s premium variations.
Minimal broker involvement needed.
With over 10 years’ experience in customer service, we provide dedicated phonelines for payment queries, credit card amendments, payment date variations & other customer service queries.
No need for you to allocate dedicated staff to handle queries or provide administration to follow up overdue payments.
Online Portal is user friendly & available 24/7.
Our facility meets APRA requirements & complies with Section 52-63 of the Insurance Contracts Act & is exempt from the Uniform Credit Code.
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QPR Premium Funding provides administration & collection of "Pay by the Month" facilities. By paying in monthly instalments, this can free up cash flow to re-invest in the business.
Business Insurance is a necessity that may come with a large financial burden when paying the full price up front, which is why we provide cost-effective options. QPR Premium Funding provides administration & collection of "Pay by the Month" facilities. By paying in monthly instalments, this can free up cash flow to re-invest in the business.
Other benefits include:
Interest rates are fixed for the term of the loan.
Retain working capital in the business.
Application is simple, with a fast approvals process.
No additional or on-going fees.
No additional security needed.
Can be used as an additional line of credit outside of banking arrangements.
Instalment payments can be made by Direct Debit, Bankcard or Credit Card.
The loan is tailored to suit both the borrower & the intermediary.
Pay By The Month Benefits
QPR Premium Funding provides administration & collection of "Pay by the Month" facilities. By paying in monthly instalments, clients can free up cash flow to re-invest in the business. Personal lines insurances over 12 equal monthly payments offered by the underwriter/introducer & funded & administered by QPR.
Documentation & procedures can be tailored to suit specific requirements subject to any applicable legislative requirements.
Customer communication: all written communication with customers can be tailored to meet specific requirements.
Security & Compliance: Cardholder & account data is stored, processed & transmitted using the highest standard of security. QPR is certified as a level 1 PCIDSS compliant payment provider & merchant – the highest global standard.
All transactions are protected with our data recovery plan which backs up all records in real time & stores them off site in a self-sufficient, external data centre.
Collection Agreement: QPR can also provide a collections service for annual premiums paid from bank accounts or credit card & paid direct into underwriter’s bank account.
Seamless Integration: QPR’s payment & funding processing platform can be fully integrated with most underwriter’s software for seamless, secure end-to-end client management. All transactions are managed by our programming interface, which stores & processes all sensitive credit card data within QPR’s secure PCI compliant system.
The underwriter has access to a Level 1 PCI compliant payment process without the need for investing in expensive infrastructure.
Access to QPR Online Portal 24/7: The underwriter’s claims department will have access to our user-friendly & secure online portal to check on client’s details & payment information.
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QPR Premium Funding provides administration & collection of "Pay by the Month" facilities. By paying in monthly instalments, clients can free up cash flow to re-invest in the business.
QPR Premium Funding provides administration & collection of "Pay by the Month" facilities for Insurers & Underwriters. By paying in monthly instalments, clients can afford easy to manage instalments for their consumer insurances.
Documentation & procedures can be tailored to suit specific requirements of the insurer/underwriter, subject to any applicable legislative requirements.
Customer communication: all email/text/letter communication with customers can be tailored to meet specific requirements.
Security & Compliance: Cardholder & account data is stored, processed & transmitted using the highest standard of security. QPR is certified as a level 1 PCIDSS compliant payment provider & merchant – the highest global standard.
Seamless Integration: QPR’s payment & funding processing platform can be fully integrated with most underwriter’s software for seamless, secure end-to-end client management. All transactions are managed by our programming interface, which stores & processes all sensitive credit card data within QPR’s secure PCI compliant system.
The insurer/underwriter has access to a Level 1 PCI compliant payment process without the need for investing in payment processing infrastructure.