Introducing Instalment Billing – pay your insurance by the month!
Today is a very exciting milestone for KT insurance! I’d like to introduce our latest development: Instalment Billing!
I’ve been incredibly pleased over the last few months to be working with the team on improving our business. We have a real regime of continuous improvement and I’m pleased to say much of it stems from long-time feedback, combined with responses we received to our survey that we sent out just a few short months ago to our policyholders.
Insurance policy premiums can amount to a large sum out of the bank account in one go and you told us that you really wanted a way to spread the cost out over the year. Our initial response a few years ago was to add short-term policies (3 and 6 month terms respectively). We know this wasn’t the perfect solution, with the need for an administrative fee every time you renew and a multitude of additional effort for all involved.
Our instalment billing functionality will supersede our short-term policies as yours comes up for renewal. This means you can take an annual policy, give us your credit card or bank account details and we can take an automatic debit out of your preferred account each month.
What’s more, since you told us at our recent survey that you wouldn’t be willing to pay more for this function, I’m delighted to say that we have decided to absorb any additional administrative costs, so there will be absolutely no cost difference between paying monthly or annually!
This functionality is available right now for new business customers – for those who currently hold a policy, please get in touch at renewal and we will gladly get you onto the new payment method.
I’m tremendously proud of my team for delivering another customer-led development to our wonderful business.
Stay tuned, there’s more to come!