In the insurance industry, there are several key challenges that organizations need to address to remain competitive and keep policyholder satisfaction high, such as:

• Ensuring effective policyholder communications
• Accelerating collections
• Keeping accurate, up to date records and account reconciliations

The primary challenge most organizations have when it comes to selecting an online payment system is that, on paper, many solutions look alike. They have similar features – omni-channel payment options, paperless billing, email notifications – and functionality. The problem with comparing online payment systems this way, however, is that a feature or function checklist doesn’t paint the full picture of a system’s performance.

When it comes to selecting an Electronic Bill Presentment and Payment (EBPP) platform for your organization, the list of criteria you can use to evaluate your options is seemingly endless. From product features, to customer experience and registration, to integration with software and electronic payment adoption rates – there are countless categories on which to base your decision.