May 30, 2023

Mark Engels: Shaping The Future Of Insurance With ePayPolicy's Finance Connect

28 minutes

In this episode of Agents Influence podcast, host Jason Cass interviews Mark Engels, CEO of ePayPolicy.

Episode Highlights:

Mark discusses the importance of digital payments and financing in the insurance industry, and ePayPolicy's mission to make payment collection and reconciliation as frictionless as possible for their agency customers. (5:26)

Mark shares the development of ePayPolicy's Finance Connect product, which serves as a middleware to exchange data between premium finance companies and agencies, making the financing process as simple as possible for all parties involved. (7:09)

Mark explains the practical use cases of AI in ePayPolicy's products, such as Checkmate and Payables Connect, to make them more efficient and improve customer service. (12:31)

Mark discusses the potential use cases for blockchain in insurance, but expresses skepticism about the widespread use of crypto for payments. (20:44)

Mark explains ePayPolicy's financing options for premium payments, including the ability to electronically sign premium finance agreements and set up auto payments. (23:33)

Key Quotes:

“I think as an industry, we're really just in the early innings of starting to transform into the new digital economy, that most other industries or at least kind of a decade down the road, a little bit further on. And so, you know, that's nothing but you know, a massive opportunity for our business and helping our customers transform and take that journey together.” - Mark Engels

“Our take on this is to enable it to be easier for all parties in the ecosystem so both our premium finance customers and the agencies to make the financing process as simple as possible.” - Mark Engels

“One of the huge benefits that we've got to being in business as long as we have is, you know, we work with over 6,500 agencies today. Agencies, brokers, MGAs. And then we also work with some of the biggest premium finance companies in the US as well.” - Mark Engels

Resources Mentioned:

Mark Engels LinkedIn

ePayPolicy

Finance Connect

Reach out to Jason Cass

Agency Intelligence

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