GoCardless and ICE InsurTech have forged a new partnership to place a focus on delivering automated payment collections for insurance companies in the Southern Hemisphere.
Australia and New Zealand customers will be able to use GoCardless to address their pain points while offering a seamless customer experience. The automatic payment collection and reconciliation process aims to offer customers greater visibility, decrease manual admin and free up valuable time.
In addition, switching from cards to GoCardless’ bank payments will help to reduce involuntary churn and sidestep costly fees. At the same time, payers will benefit from peace of mind, knowing their payments will be taken on the day they’re due, without having to take any extra steps.
Luke Fossett, General Manager ANZ at GoCardless, said: “This new partnership provides a strategic opportunity, giving us great exposure to insurance companies in most of the markets we operate in.
“We are excited to help them deliver better digital experiences through faster and more seamless payments, and look forward to growing our customer base together with ICE InsureTech.”
The integration is now live in Australia and New Zealand, with Provident Insurance as the first joint customer and will expand to the UK and Ireland with Direct Debit and Open Banking payments later in the year.
The news builds on GoCardless’ partner strategy to acquire customers at scale. The fintech currently works with a roster of more than 350 partners, allowing businesses to integrate into the software they already use so they can manage their payment and other business activities in one place.
Vishal Thaper, Head of Product at ICE InsureTech, said: “We are delighted to be integrated with GoCardless. The integration is easy to set up and help is always at hand from a member of their team if ever you get stuck.
“GoCardless makes the overall cost of acquisition cheaper, not to mention the process is faster and more accurate for our end customers. We are very proud to have created such a seamless journey for weekly, fortnightly and monthly scheduled payments.
“We look forward to doing more together in the future by bringing open banking and Variable Recurring Payments into the insurance industry.”
