Introducing Recurring Credit Card! Our New Automatic Payment Plan

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Presentation transcript:

Introducing Recurring Credit Card! Our New Automatic Payment Plan

Now Travelers Offers Two Automatic Payment Plans! Recurring Credit Card (RCC) Automatically charges payments to a credit card Electronic Funds Transfer (EFT) Automatically deducts payments from a bank account

RCC and EFT Both Methods Offer Customers Convenience & Savings! No checks to write No stamps to buy No bills to handle No missed payments Reduced monthly service charge compared to paying monthly premiums by check.

RCC and EFT Both Methods Benefit Your Agency Less time handling billing inquiries Less time re-writing lapsed accounts Allows your agency to spend more time developing new business Increases customer retention – customers who use automatic payment plans are less likely to “shop” Source: Product Work Bench

Customer Enrollment is Easy! At www.amp.travelers.com, customers can: Enroll in RCC or EFT Edit Payment Preferences Change their credit card or banking information Change their deduction date Customers can also enroll using e-brochure PL-12368.

You Can Enroll Your Customers How Do I Enroll a Customer in the Recurring Credit Card Program? For new business, see our Enrollment Procedure Guidelines, PL-13446 For existing customers, process a policy change and change the billing type to Recurring Credit Card Of course, you can always direct your customers to enroll themselves at www.amp.travelers.com

Frequently Asked Questions Why is Travelers Offering a Recurring Credit Card Program? Many customers prefer to pay by credit card - They like the convenience of automatic billing - Allows them to take advantage of credit card point and award programs What type of cards are accepted? We accept all cards with the Visa® or MasterCard® logo. The Answers To Other Questions Can Be Found In Our FAQ PL-13447 Available on AgentHQ.

Available Materials and Customer Communications Marketing Materials – Available on Agent HQSM Program Overview, PL-12276 Frequently Asked Questions, PL-13447 Enrollment Procedures, PL-13446 Consumer Brochure PL-12368