Mark Engels 

is the CEO of ePayPolicy, a modern payments platform built just for insurance carriers, brokers and agencies. Before ePay, Mark served as the Chief Revenue Officer for Hyperwallet (acquired by PayPal) and then Paya, where he led the sales and growth initiatives for both companies. Mark has seen the rapid digital transformation of payments firsthand, having spent most of his career leading teams in the space.

How to Train Your Algorithm: Integrating Check and Digital Payments for Insurance

Mark Engels, CEO of Epay Policy, a modern payments platform built just for insurance carriers, brokers, and agencies, has seen the rapid digital transformation of payments firsthand, having spent most of his career leading teams in the space. He sits down with host Jim Schubert today to share the trends he sees changing in end management systems for agencies across the globe and breaks down their valuable service for those who are still receiving a large percentage of their payments in the form of physical checks.
It's a losing strategy to force your customers into a payment method.

3 Key Takeaways

  • How ePayPolicy is helping insurance agents digitize their receivables no matter the payment, INCLUDING checks.
  • How the company's machine learning algorithm is used to reconcile data from customer remittance advice.
  • ​How the company's focus on integrating digital payments into the insurance industry is helping agents keep up with industry trends.

Listen To The Full Episode Below

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Episode Show Notes

[00:00:01] - In the last 2 weeks, Jim got 250 job applicants. Using a simple strategy that anyone can replicate, he is ready to show you how he did it.

[00:00:43] - One of the first things Jim did was update the beginning of his job description on Indeed. He recommends adding a salary range to the job description and making it easier for people to read.

[00:04:29] - Method number two: humanize the listing and speak in your own language as if you were talking to somebody right in front of you. You can download the agency guide to filling your talent pipeline for free from agentsgrowthacademy.com.

[00:06:17] - Lastly, get on the remote work train. Make it so that people can clearly see the option to work from anywhere at the top of the listing. Lastly, consider sponsoring the position on places like indeed.

[00:07:58] - In the last 12 months, Jim spent $10,000 on recruiters. In the span of two weeks, he narrowed his options from those recruiters down to 50 people. With this new method of recruiting, it cost Jim $1,000 to find highly-qualified candidates–10% less than what he using a recruiter.

Resources

Agents Growth Academy Partners

Created by insurance experts for the insurance industry, ePayPolicy provides the simplest solution for insurance agents, carriers, brokers, MGAs, and premium finance companies to collect credit card and ACH payments.
Your Marble Box service team are trained insurance professionals. That means they do more than schedule meetings, manage inboxes, and send auto-responders to incoming emails. They can literally do ANY process you need between customer interactions, so you can serve your customers better.

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