Premium Finance Groups

Premium Finance Groups enable agencies to have structure-level control for accepting premium finance payments. You can define your Premium Finance Provider (PFP) selection criteria from this area.

Add a Premium Finance Group

1. Click + Premium Finance Group to create a new group.
2. Enter the Group Name and choose a Merchant Account. The Merchant Account is used to link your Premium Finance Group to Applied Epic and does not impact the settlement of down payment.
3. Choose a Status of Active or Inactive. It is advisable to keep the Group in an Inactive status until you have defined all Group settings.
4. Click Continue to Details.
5. On the Epic Settings tab, assign Epic structures to use the settings configured for the premium finance group. The Epic structure must be unique for each premium finance group. The Epic Folder Structure for Premium Finance defines the location where the Premium Finance Agreement is stored. The Epic Security allows you to define the user access level for the signed Premium Finance Agreement in Applied Epic.
6. In the Finance Providers tab, enter a Provider, Epic Lookup Code, and the Minimum Invoice Amount to assign the primary and secondary premium finance providers. You can add up to three PFPs. Select Auto-finance Transaction to trigger the finance transaction workflow in Applied Epic for every policy financed.
7. In the Email Notifications tab, enter the email address(es) to receive emails for Premium Finance Payment Confirmations.
8. In the Authorization tab, enter the Authorization Credentials for the agency. Select Apply to All Rows to copy the credentials to each agency level.
9. Click Save.

Click the ellipsis to Edit, Activate/Deactivate, or Remove premium finance groups. Deactivated groups are moved to the bottom of the list. To activate a deactivated group, click the ellipsis and select Activate.