Hi, my name is Tyler St. John, product manager of PayMyPremiums at AFCO. I’m going to walk you through the insured process to complete a payment using PayMyPremiums.
After your agent sends an email to you, you’ll get an email from invite@paymypremiums.com. The subject line will include your payment plan from the agent who sent the invitation. You’ll have the option to click the hyperlink to go to paymypremiums.com and pay or you can go to paymypremiums.com and enter in your invoice number and payment ID shown below.
Upon logging into PayMyPremiums, you’ll see the agency branded logo at the top. The insurance will be presented with two payment options side by side. The Easy Finance Plan and Pay In Full.
If an insurance selects Pay in Full there’s a simple and easy process to collect their contact information and choose how they want to pay by either credit card or ACH. If financing, we also bring them through a very simple and easy four step process to digitally agree to financing. So we’re going to click financing.
We display a summary of the financing terms and conditions. Insurance must click that they agree to the terms and conditions. If they like they can view and download a copy of the paper PFA.
The next step is to provide contact information. So this is used for two purposes. One is used to send an email confirmation and is also used to esign the PFA.
The next step is selecting the down payment method. Regardless of Pay In Full or Finance, you will have two options to complete your full payment or down payment. Credit cards do have a fee that is passed along through our payment processor. When paying by ACH, we validate the routing number. This helps reduce issues on the back end. Then we’re going to enter in our account number. We’re going to put it in twice. Also, note that ACH payments are free 100% of the time whether financed or paid in full.
Insurance will then have the option to enroll in autopay. If they do elect this options, we ask them to provide their banking information and agree to the terms and conditions. If they did elect to pay their down payment by ACH, we pre-populate the information. If they elected to pay their down payment by credit card, we simply ask to provide the ACH information. If the insurance decides not to enroll, they can always enroll through our myAFCO portal through a very simple and easy digital process as well. Since we did elect to enroll in autopay, we have to agree to the ACH terms and conditions. So we are going to agree to the terms and conditions.
As a final step you’re able to review your payment selections. If at any point, you want to go back into the process and change anything you can simply click the edit pencil to go back.
At this point, we are going to submit the payment. Great. Your payment has been submitted. At this point Insurance can either print the confirmation, they can download the esign PFA and provide feedback on their experience. Additionally, we email a copy of the confirmation to the insured including the esign PFA and copy the agent as well. Note, the insured does select a cred card down payment, they will receive another email from our credit card vendor when we process their payment.
After the insured completes their payment in PayMyPremiums, they will get an email from thankyou@paymypremiums.com showing that their payment was submitted. We also copy any additional agency emails that provided and the agent that you esigned the PFA. The esign PFA is attached electronically signed. This can be used to upload in your document management system. If a paid in full payment was made we simply send the PMP confirmation with those payments selections.