With the new advanced setting process-payment-at-bind, carriers can require an initial payment during the quoting process before a policy is bound and issued. Processing a payment before a policy is bound can prevent carriers from insuring risks that are unpaid.
What is changing?
BriteQuote can be configured to process payments before a policy is bound by enabling the process-payment-at-bind advanced setting. When the advanced setting is enabled, and you create a new quote or rewrite a policy, the following will happen:
- On the Billing screen of the quote flow, the system will default to the Credit Card payment method. Review the existing credit card information, if applicable, or add a new credit card.
- When you select Bind, the system will automatically pull the payment from the payment method selected on the Billing screen of the quote flow.
- A payment receipt will be generated and sent to the payor when the transaction is complete.
When the process-payment-at-bind advanced setting is enabled:
- A policy can’t be issued until a payment is successful.
- If an error occurs and a payment doesn’t process, a message notifying you that the payment wasn’t processed will display in the quote. The error must be addressed and a successful payment must be made before the policy can issue.
Contact your BriteCore Support team for any questions about this new feature.