Adapt launches Late Pay Agent for insurance agencies
Adapt announced in a press release the launch of Late Pay Agent, an autonomous agent that helps property and casualty insurance agencies collect overdue payments. It continues contacting customers with pending cancellations until payment is recorded.
The agent sends emails from the agency's mailbox and uses its phone number for texts and calls. It records each message in the agency management system, while agencies can choose which customer segments receive outreach.
Adapt reports that the agent can prevent up to 93% of pending policies from lapsing and reduce suspense volume by 63%. Pricing is based on each resolved payment, with no charge when a customer pays before outreach starts or when the policy is canceled.
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