GoCardless & ICE InsureTech to offer faster payments to insurance firms

By Gloria Mathias

GoCardless, the bank payment company, has announced a partnership with the insurance software platform ICE InsureTech to deliver faster and automated payment collection for insurance companies in Australia and New Zealand.

ICE customers will be able to use GoCardless to address their pain points while delivering a high-quality customer experience. Automatic payment collection and reconciliation will offer them greater visibility, decrease manual admin and free up valuable time. In addition, switching from cards to bank payments will help to reduce involuntary churn and sidestep costly fees. At the same time, payers will benefit from peace of mind, knowing their payments will be taken on the day they’re due without having to take any extra steps.

Luke Fossett, General Manager ANZ at GoCardless, said, “This new partnership provides a strategic opportunity, giving us great exposure to insurance companies in most of the markets we operate in. We are excited to help them deliver better digital experiences through faster and more seamless payments, and we look forward to growing our customer base together with ICE InsureTech.”

Vishal Thaper, Head of Product at ICE InsureTech, said, “We are delighted to be integrated with GoCardless. The integration is easy to set up and help is always at hand from a member of their team if ever you get stuck. GoCardless makes the overall cost of acquisition cheaper, not to mention the process is faster and more accurate for our end customers. We are very proud to have created such a seamless journey for weekly, fortnightly and monthly scheduled payments. We look forward to doing more together in the future by bringing open banking and Variable Recurring Payments into the insurance industry.”

The integration is live in Australia and New Zealand, with Provident Insurance as the first joint customer. Later in the year, it will expand to the UK and Ireland with Direct Debit and open banking payments.