Autopay phenomenon. What are you guys seeing?

[MIGA1626]

LOLOLOL!!! YES LET THE HATE FLOW THROUGH YOUR BODY

 

[InsuranceAgent411]

Escrow payments are not being paid timely either. I have an account that renews on 12/28 --premiums are escrowed--the mortgage company is not even mailing the check until the 23rd. What?

 

[MIGA1626]

Escrow payments are not being paid timely either. I have an account that renews on 12/28 --premiums are escrowed--the mortgage company is not even mailing the check until the 23rd. What?

I have always hated escrowed payments. The bank needs to get with it, login like the customer, and pay it electronically if they want it paid so bad. No more of this 1776 mailing a check with fountain ink to the building & loan safety deposit box.

 

[Markthebroker]

I have always hated escrowed payments. The bank needs to get with it, login like the customer, and pay it electronically if they want it paid so bad. No more of this 1776 mailing a check with fountain ink to the building & loan safety deposit box.

Oh man, escrow payments are probably the best example of something that totally makes sense and sounds super convenient on the face, but are a high failure sh!tshow on the backend.

 

[Allen Trent]

sounds super convenient on the face, but are a high failure sh!tshow on the backend

Sounds exactly like when i decide to grab Taco Bell for the family on the way home instead of eating real food. It was super convenient, but end up having a shitshow on my backend

 

[MIGA1626]

Sounds exactly like when i decide to grab Taco Bell for the family on the way home instead of eating real food. It was super convenient, but end up having a shitshow on my backend

LMAOLMAO!

 

[MIGA1626]

YOU ARE NOT GOING TO BELIEVE THIS. I figured out what they are doing. I had an account that was 2 days away for cancelling for non pay. The bill they sent to client says DUE DATE 01/11/2024. LIKE WTF!!!! This policy is non-renewing on 01/03/2023 and the bill was REALLY due early December. So they are cancelling the policies on my end but presenting it to the client like they still have 3 weeks to pay a bill. THESE ARE SICK BUSINESS PRACTICES AND THEY NEED TO BE STOPPED.

 

[LostDollar]

YOU ARE NOT GOING TO BELIEVE THIS. I figured out what they are doing. I had an account that was 2 days away for cancelling for non pay. The bill they sent to client says DUE DATE 01/11/2024. LIKE WTF!!!! This policy is non-renewing on 01/03/2023 and the bill was REALLY due early December. So they are cancelling the policies on my end but presenting it to the client like they still have 3 weeks to pay a bill. THESE ARE SICK BUSINESS PRACTICES AND THEY NEED TO BE STOPPED.

30 day grace period?

 

[Allen Trent]

30 day grace period?

No grace period on Property Casualty to the extent there is with Life

 

[Allen Trent]

Any chance this billing issue is not specifically being done by the carriers? Is it possibly the issue of the software vendors they use that seem to have a monopoly on the business? Most carriers have paid tens of millions of dollars for these new & improved systems to end up having them be less user friendly to users & cause way more billing issues of which many can't even be explained. Would that explain it more than thinking carriers are colluding to cause billing problems to allow them to stop collecting premiums they need to pay bills & claims