Cananwill Carrier Programs
Cananwill helps capture, float, and reduce nonearning assets, turns receivables into cash and assumes all billing administration.
Most P & C carriers offer installment terms for their policies. Although they may be necessary, they can be increasingly expensive and time-consuming.
For these reasons, Cananwill created the Cananwill Carrier Programs. Cananwill effectively provides the administrative functions and funds the net premium directly to the carrier. The insured receives a low or no-cost finance agreement and is billed monthly or quarterly by Cananwill.
Custom-Designed for Your Unique Business
Cananwill Carrier Programs are specifically designed to address the unique needs and opportunities inherent to each insurer. The programs are infinitely flexible, and many aspects can be customized, including billing process and terms, your company's name prominently displayed on every piece of correspondence, management reports and more.
24/7 Online Account Access
Cananwill provides you with on-line access to your accounts on its mainframe. You retain as little or as much customer contact as you wish. Our Account Status Reports system provides a quick review of the payment status of every account serviced. Cananwill can even help your underwriters avoid problem accounts by underwriting the credit of an insured.
Advantages of Outsourcing Your Billing and Collections Program with Cananwill
- Reduced direct cost associated with billing and collections
- Prefunded gross premium allows carriers to invest more of their portfolio long-term, and to immediately fund agency commissions up-front
- Multiple-policy billing on one statement
- Earlier nonpayment notification, for quicker cancellation
- Frees additional staff resources normally allocated to premium billing and collections
- Reduced earned premium exposure
- Increased admitted assets
- Attractive means to collect audits and old balances
- Minimized collection friction for you and your agents
- Positions your company for a potential transition away from "Free" installments
- Maintained or improved current level of customer service with no internal resource allocation
- Provides for exceptional cash/receivables management vehicles