AFCO Carrier Programs

Most P & C carriers offer installment terms for their policies. However, these can be expensive and time-consuming.

For these reasons, AFCO's Carrier programs effectively provide the administrative functions and funds the net premium directly to the carrier. The insured receives a low or no-cost finance agreement and is billed monthly or quarterly by AFCO.

Custom-Designed for Your Unique Business

AFCO Carrier Programs are specifically designed to address the unique needs and opportunities inherent to each insurer. The programs are infinitely flexible, and many aspects can be customized, including billing process and terms, your company's name prominently displayed on every piece of correspondence, management reports and more.

24/7 Online Account Access

AFCO provides you with on-line access to your accounts on its mainframe. You retain as little or as much customer contact as you wish. Our Account Status Reports system provides a quick review of the payment status of every account serviced. AFCO can even help your underwriters avoid problem accounts by underwriting the credit of an insured.

Advantages of Outsourcing Your Billing and Collections Program with AFCO

• Reduced direct cost associated with billing and collections
• Pre-funded gross premium allows carriers to invest more of their portfolio long-term, and to immediately fund agency commissions up-front
• Multiple-policy billing on one statement
• Earlier nonpayment notification, for quicker cancellation
• Frees additional staff resources normally allocated to premium billing and collections
• Reduced earned premium exposure
• Increased admitted assets
• Attractive means to collect audits and old balances
• Minimized collection friction for you and your agents
• Positions your company for a potential transition away from "Free" installments
• Maintained or improved current level of customer service with no internal resource allocation
• Provides for exceptional cash/receivables management vehicles