IPFS News & Updates

What our Customers told us about their 2020

Dec 17, 2020

In October and November, Imperial PFS sent out a survey to our Customers to find out more about how they were working, how business is going, and what their plans are regarding returning to the office.

We heard from 76% of responding agents that business is still good, but there have been difficulties this year. One agent summarized the changes they saw in their offices: “Conducting fewer in-person meetings; contacting customers via email/DocuSign as much as possible; heavier marketing due to change in available commercial property markets.”

We also learned that 58% of responding agents are still spending at least some of their time working away from the office, and 35% will continue for the foreseeable future, with no plans to return yet. Many agencies are finding pain points to persist in the remote workspace. For example, one agent says their work is "More difficult and time-consuming due to lack of technology in the consumer base.”

We found that agents felt that at least some of the changes this year will persist after COVID-19 precautions are lifted: 74% feel that COVID-19 adjustments have at least somewhat impacted the way they conduct business, and 78% felt at least some of the changes would be permanent. 

As we move into a new year, we want to take these insights with us, and help your business overcome some of these pain points. IPFS has a full suite of technology available to help you and your insureds take the insurance buying process online to avoid cumbersome paper processes and long email exchanges. 

Contact your Sales Executive to learn how IPFS can help make the insurance buying process easier on you and your insureds. You can start by moving the premium payment process into one simple, user-friendly portal with IPFS TotalPay®, or turning on eSignature and eForms to automate more of the insurance documentation. 

Benefits for Insurance Agents

Immediate commission collection, superior account receivable ratios, reduced billing expenses, enhanced service for your clients, increased annual income, and much more. In 2021, we financed more than 700,000 insurance loans across North America, totaling nearly $12 billion in premiums in the US alone.


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Benefits for Business Owners

Financing your commercial insurance premiums gives you the flexibility to use your working capital more effectively. Freeing up capital can allow you to focus on product development, hiring new employees, marketing and other investments to grow your business.

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Benefits for Insurance Companies

The insurance industry is digitally enhancing its purchase and service model to elevate the customer experience for insureds. This is where IPFSDirect® steps in. IPFSDirect is a business unit established under IPFS Corporation who works exclusively with insurance companies providing payment and collection services.

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