Catalyit Guide

Digital Payments & Premium Finance

Digital payment and premium finance technology streamline insurance payments with secure transactions, flexible financing, automated billing, and compliance management.
Section I: Digital Payments & Premium Finance in 2025
  
Section I

Digital Payments & Premium Finance in 2025

What is Digital Payment & Premium Finance technology?

Digital Payments and Premium Finance technology work together to enhance how insurance agencies manage client payments and financing options. These solutions provide secure, convenient payment methods while enabling flexible premium financing plans, making insurance more accessible and affordable for clients. Agencies can streamline the collection process with online payments, recurring billing, and electronic invoicing, while premium finance tools automate payment schedules, manage agreements, and ensure regulatory compliance. By integrating these technologies, agencies can improve cash flow, reduce administrative burdens, and deliver a seamless, client-focused payment experience.

This guide can help...

  • Alternative Payment Schedules & Options
  • Workflows, Processes & Automation
  • Payment Tracking
  • Agreement Processing
“Many consumers nowadays prefer to pay their bills digitally rather than write checks. Failure to follow the insurance trust accounting rules of your state can land you in trouble with the state Department of Insurance. This is why it is crucial that your payment service provider informs you of the legal requirements in your state and how they comply with them.”
Steve Anderson_circle
Steve Anderson

Catalyit Co-founder

      
Section II

How do I get started?

Are you looking for a digital payment and premium finance solution that meets your agency’s unique needs? With so many options available, it can be overwhelming to make a decision. Here's what we think you should consider.

Insurance Trust Accounting

Insurance trust accounting is regulated at the state level. You must ensure that any solution you use is legally compliant with the regulations in your state.

Types of Payments

What types of payments can be accepted?

Processing Time

How long does it take for the payment to show up in your bank account?

PCI Compliant

Does the vendor hold a PCI Level I compliant certificate?

Agency Branding

Can the payment page be branded with your agency information?

     
Section III

What solutions are available?

Take a closer look at all your available options by visiting their profiles.

AgentSnap
AgentSnap

AgentSnap
by SnapRefund

Agency-billing and policy binding platform for insurance agents

Digital Payments Premium Finance 101 Weston Labs

Applied Pay
Applied Pay

Applied Pay
by Applied Systems

AMS-native payments solution with direct integrations into Applied Epic, EZLynx and Applied CSR24

Digital Payments Premium Finance

ePayPolicy
ePayPolicy

ePayPolicy
by ePayPolicy

The fastest, easiest and most secure way to move money in the insurance industry.

Digital Payments

Pavo Broker Portal
Pavo Broker Portal

Pavo Broker Portal
by Pavo Insurance Solutions Inc.

Connecting the Premium Finance Ecosystem digitally

Premium Finance Enhancement Specialty Solutions

PayMyPremiums
PayMyPremiums

PayMyPremiums
by AFCO Direct

Fully digital premium billing, down-payment collection and financing solution

Digital Payments Premium Finance

Simply Easier Payments
Simply Easier Payments

Simply Easier Payments
by Simply Easier

Streamlined payment solutions for businesses, simplifying transactions and enhancing the payment experience.

Digital Payments

Agave
Agave

Agave
by Agave Pay, Inc.

Digital Payments

Ascend
Ascend

Ascend
by Ascend

Digital Payments

Converge Pay
Converge Pay

Converge Pay
by Converge Pay

Digital Payments

EasyPay
EasyPay

EasyPay
by EasyPay

Digital Payments

Input1
Input1

Input1
by Input1

Digital Payments

InsurePay
InsurePay

InsurePay
by InsurePay

Digital Payments

IntelliPay
IntelliPay

IntelliPay
by IntelliPay

Digital Payments

Intentflow
Intentflow

Intentflow
by Intentflow

Digital Payments

IPFS Totalpay
IPFS Totalpay

IPFS Totalpay
by Imperial PFS

Digital Payments Premium Finance

QuickBooks
QuickBooks

QuickBooks
by Intuit

Digital Payments

SimplePin
SimplePin

SimplePin
by SimplePin

Digital Payments

Tranzpay
Tranzpay

Tranzpay
by Tranzpay

Digital Payments

WeSignature
WeSignature

WeSignature
by WeSignature

Digital Payments Electronic Signature

Xpress-pay
Xpress-pay

Xpress-pay
by Xpress-pay

Digital Payments

    
Section IV

How does each solution compare against one another?

Make an informed decision by comparing solutions side-by-side. Click the logo to take a deeper dive and learn more about the solution.

Brand/Product name
Forms of Payment Accepted
Funding Time for Each Payment Type Offered
Maximum Funding Per Day Per Account
Foreign Currency Exchange
Protect Chargebacks, NSD's, Incorrect Banking Info
Premium Finance Options
Agency Branding
Free to Agency
Cost for Agency
Base of Operations for Live Support
Last Updated
     
Section V

What are independent insurance agents using, and how do they rate?

Catalyit partnered with Big “I” state associations to survey independent insurance agencies across the US and gather information about their tech stack and satisfaction.

37%

Agencies using a digital payments platform/service

Catalyit Goes Deeper

Electronic payment options help to make it easier for online customers to make payments. ePayPolicy is the most popular choice, with over 40% of agencies using it. Digital payments eliminate paper checks and manual processing, which means payments are received more quickly and with fewer errors. Some vendors are also growing in offering premium finance payment options. These options come with improved security features that protect against fraud and theft. Agents can use digital payments to simplify billing, reduce costs, and better manage cash flow and financial reporting.

Most Used
% Use
Avg. Rating
ePayPolicy
44%
4.4
Applied Pay
9%
4.2
IPFS TotalPay
9%
4.6
Simply Easier Payments
8%
4.6
EasyPay
7%
3.8
Carrier Online Billing
4%
4.4
Ascend
3%
4.6
QuickBooks
3%
3.3
PayMyPremiums (AFCO Direct)
2%
4.3
Xpress-pay
1%
4.0
EZLynx Client Center (Applied)
1%
3.0
Other
7%
4.1
     
Section VI

Additional Resources

Keep yourself informed with the latest insights and product demos.

TechTips Articles

Staying Ahead: 6 Predictions for the Insurance Landscape in 2025
Digital Payments

Staying Ahead: 6 Predictions for the Insurance Landscape in 2025

December 11, 2024 7 min read
Check Fraud is on the Rise
Digital Payments

Check Fraud is on the Rise

September 12, 2024 3 min read
The Paper Check Problem: Why Paper Checks Persist in Insurance
Digital Payments

The Paper Check Problem: Why Paper Checks Persist in Insurance

August 10, 2024 3 min read

Webinars & Demos

ePayPolicy Demo
ePayPolicy logo
Digital Payments

ePayPolicy Demo

January 28, 2025
Overcoming Barriers in Agency Bill and Premium Finance Workflows
credit card payment on laptop
Digital Payments

Overcoming Barriers in Agency Bill and Premium Finance Workflows

July 23, 2024
PayMyPremiums Demo
PayMyPremiums
AFCO Direct

PayMyPremiums Demo

January 25, 2024
    
Section VII

Have questions?

The Catalyit Team is here to help! Get in touch with us.

  • Ask the Catalyit Chatbot
  • Submit a Support Ticket
  • Call us
Contact Us
Laptop and phone on desk

Contributors:

Mark Parrish

Mark Parrish

Steve Anderson

Steve Anderson

Guide Last Updated: January 2025

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