Depending on permissions given in admin, you may have the permission to Email or View Premium Finance Agreements (PFA).

 

An example of when you would see that option would be if you are changing the payment method from yearly to monthly.

 

• Go to bond and the customer profile.
• Go to payment and use the 3 dots (Actions) button to select Change Payment Frequency.

 

• This screen will open:

 

 

 

• Once you have completed the changes, select Submit.
• If you have the View option and have selected it, when you press submit, the PFA for the monthly payment plan will display, which you can accept on the customers behalf. (if your admin permissions allow). 

 

 

More information on the above visual

 

• Payment Terms will only show a list of policy terms, if there has been a renewal or change of policy etc.
• Selecting either monthly or yearly will be reflected,  if that option is highlighted (orange in our example).
• Email or View the PFA - Selecting Email will email it to the customer, in the same manner that it does in thru when arranging a new policy. 
• View will allow the user/broker to view the PFA and read and accept on the customers behalf.
• The Email or View option may not show if the permissions in admin have not been given. Only those users with the permission 'Accept PFA' will be permitted to do that (Permission will also be released at the same time as this update - August 2021).  Email may be the only option when you are on this screen.  Contact your Digital Champion if you are unsure. 

 

 

•   The Premium Finance Agreement (PFA) will display.
•   Broker will Review and Accept  (same form as we display already in thru, if the broker selects decline, takes them back to the prior page).
•   The payment schedule will be updated (as the broker has accepted it on the customers behalf).  
•   This action places you back to bond and the Payments tab.
•   The Change Activity will have the attached signed PFA PDF  - and NOTES similar to when you select in thru.
•   The, above mentioned, Change Activity will automatically close.  (NEW Feature to be released in Nov 2021!) 
•   Signed PFA PDF will appear in the Attachments tab. 
•   PFA PDF - will appear under View Policy, also.  
•   pocket is updated for the customer and a Change email will be sent, including the PFA and payment schedule shows on the cover page.

 

Here is a recording of the View PFA feature: View Premium Finance Agreement

 

 

• The email with the PFA will be sent.
• They will be able to click the link within the email and Accept - shown here:

 

 

If the customer clicks the boxes and Accepts:

• The Activity in bond will close, note is added and the Signed PFA is attached.
• Users in bond can view this by clicking View Policy from the right hand side menu.
• Customer is emailed a signed copy.

 

If the customer clicks Decline:

• The activity in bond closes and a note is attached to confirm it was declined.
• The payment frequency will remain as yearly

 

If the PFA isnt accepted within 24 hours:

• The link the customer has will expire.
• The customer will see a message telling them the link has expired and to contact the brokerage.
• Customer cannot accept or decline the PFA
• The payment frequency will remain as yearly.

 

 

Yes, the Resend PFA link is found in the activity for the renewal PFA. Use the Action ellipsis to open the menu and select Resend PFA email, like here:

 

 

The customer will still have the opportunity to accept the PFA terms and continue with monthly payments. 

Be aware that if there SHOULD have been a payment whilst waiting for the PFA, then the customer may have payments to catch up on.  Check their payments schedule to confirm.

There would not be an NSF for the payments that are 'missed' before the PFA was signed as the payment processor does not try to collect a payment before the PFA is signed (and its on Manual pay anyway), but this could result in the customer incurring NSF's if the payments are not checked/discussed when terms are accepted. (Customer will get a copy of the payments schedule when they accept the PFA).