Insurance Debt Collection – Debt Collection service for Insurance brokers
Insurance Debt Collection specialists
The insurance sector is one of the oldest and largest industries in existence.
In the United Kingdom, the insurance industry there is the fourth-largest in the world. It is also the largest in the whole of Europe.
In 2019, studies indicated that the UK’s insurance sector contributed roughly £75.5 billion in tax revenue.
Out of all industry sectors in the country, the insurance sector was the one that contributed the most that year.
The UK has thousands of insurance brokers that operate all over the country. These brokers employ over 94,000 members of staff directly.
Insurance services are provided by every type of organisation. These range from high-street based brokers, to enormous online brokering companies.
It is generally thought that insurance comparison sites are the future of the industry, however, this is not as straightforward as it may seem.
For instance, these sites offer policies that provide stripped-down cover and high excess payments.
The reason for this is due to insurance firms competing for the highest place on the list.
Insurance Brokers are usually associated with general insurance, which normally includes:
- Car Insurance
- Health Insurance
- Home Insurance
- Travel Insurance
The sale of general insurance such as these examples has been regulated by the Financial Conduct Authority (FCA) since April of 2013.
Debt Collection Service For Insurance Brokers
Insurance brokers provide one of the most important solutions for their clients. They help them to secure the best prices on insurance policies.
If you are an insurance broker that is owed money from a customer, the most important thing to do is to take action as soon as possible.
A cash flow is the lifeblood of any business. Having yours compromised by a non-paying customer can cause problems.
Taking action to recover the debt as quickly as possible is the appropriate (and best) course of action.
Without this, the entire business is put at risk.
It is always recommended to instruct the services of a compliant, professional and heavily experienced collection agency, rather than you or your organisation trying to recover this independently.
Trying to recover the debt independently has many disadvantages and can be extremely expensive in regards to both your time and money. You could be wasting a lot of time trying to recover your Insurance Debt, which instead could be spent doing value-based tasks which aid in growing the business.
Knowing where to go when a situation such as this arises is extremely important, as it will result in further difficulties should you prolong your money being recovered.
The answer is, and always will be Frontline Collections.
At Frontline Collections, we represent a large amount of Insurance Brokers nationwide, delivering the leading Debt Collection solution for all of our clients.
Throughout our long history, we have worked on behalf of some of the UK’s leading Insurance Brokers, allowing us to gather knowledge and understanding of the industry of the highest degree. This is demonstrated in the industry-leading service that we provide.
We are fully understanding of the negative impact and issues that are caused on behalf of problem debtors, and ensure we provide the most efficient, cost-effective and hassle-free service possible.
Some of the key types of sectors that we work for include Insurance Brokers, Insurance Companies and Motor Insurance Companies.
There are many Debt Collection scenarios related to Insurance which we experienced over the years, including:
- Third Parties That Have Not Been Paid For Insurance Work
- Money That Is Owed From An Insurance Broker
- Individuals That Have Not Been Paid By Insurance Companies
Resolving these various scenarios has allowed us to enhance our Insurance Industry expertise and knowledge of the typical “reasons not to pay”.
The service that we provide for Insurance Brokers guarantees is the most efficient and effective, minimising costs and maximising the potential for a successful recovery of your money.
Why Choose Frontline Collections For Insurance Debt Collection?
At Frontline Collections, we are the No1 for Insurance Debt Collection in the United Kingdom.
We have demonstrated experience dealing with problem debtors for the likes of Law Firms, Accountants, Insurance Companies, Independent Schools and many more.
There are only benefits to using us as your dedicated Debt Collection Experts, such as:
- 90% Recovery Rate on Undisputed Debts.
- We operate the UK’s Lowest Commission Rates Which Start from As Little As 8%.
- Local, National and International Coverage.
- No Collection – No Collection Costs to Pay!
- Localised Debt Recovery Officers to Visit Debtors.
- Cost-Effective, Professional and Pro-Active.
- Strategically Located Collections Offices to Provide A Truly Nationwide Service.
One of the main benefits of using Frontline Collections is that all relationships between a client and a debtor are not jeopardised, allowing for the continuation of business in the future.
This forms part of our mission statement to maximise the collection of all debts whilst remaining mindful of existing business relationships.
We continuously strive to treat all our clients with the utmost respect, honesty and integrity.
If you or your business have an insurance-related debt that is owed to you, you will need to get in contact with our team of Debt Collection experts.
For FREE advice, you can contact our New Business Team on 0333 043 4425.