InvoiceCloud customer Ellington Mutual achieves 7x increase in autopay adoption
HORTONVILLE, Wis. & BOSTON–(BUSINESS WIRE)–Ellington Mutual Insurance Company has leveraged InvoiceCloud, an EngageSmart (NYSE: ESMT) solution for online bill payment services, to streamline payment processes and maximize operational efficiency. Since implementing InvoiceCloud’s payment solution, Ellington Mutual has experienced a 7x increase in AutoPay adoption and discovered new opportunities to increase customer satisfaction.
A leader in providing top quality insurance in its field since 1878, Ellington Mutual offers property and casualty insurance throughout Wisconsin. Wanting to keep up with changing customer expectations and future-proof the policyholder experience, the team needed a solution that would modernize payment processing and remove friction from the payment experience. Ellington Mutual chose to use InvoiceCloud for the range of tools it offers policyholders. These include AutoPay, scheduled payments and customizable payment reminders.
Since implementing InvoiceCloud in December 2021, Ellington Mutual has doubled its payment options to allow customers to pay bills via digital wallet, text message, phone or PayPal, in addition to traditional bill payment routes. Ellington Mutual has also seen a 63% increase in paperless enrollment and a significant decrease in statement printing and mailing costs, all within the first six months of using InvoiceCloud. As paperless enrollment and AutoPay enrollment have increased, payments made via standard mail have decreased, which also saves payment processing time.
According to a 2016 report by McKinsey, insurers that provide best-in-class customer experiences generate two to four times more growth in new business and approximately 30% higher profitability than carriers with an inconsistent customer focus.
“InvoiceCloud’s solution not only met our current needs today, but gave us the ability to integrate next-generation capabilities as we scale, increasing customer retention by meeting the needs of modern policyholders,” said Ellington Mutual CEO and President Howard Schwartz. “Additionally, their support team included industry specialists, which led to the smoothest implementation I’ve ever been involved with.”
For more on Ellington Mutual’s integration with InvoiceCloud, check out their story here.
About Ellington Mutual Insurance Company:
Ellington Mutual is a Wisconsin-based general insurance company committed to superior service while utilizing today’s technology. Since 1878, Ellington Mutual’s philosophy has been local, friendly service, competitive pricing and financial security.
About InvoiceCloud:
InvoiceCloud, an EngageSmart solution, is the leading provider of online bill payment services. Founded in 2009, the company has grown to be one of the leading disruptors in the cloud-based electronic bill and payment (EBPP) space, helping institutions put the customer experience first. By switching to InvoiceCloud, customers improve customer engagement, loyalty and efficiency while reducing churn and lost payments in the process. With over 2,700 customers across the US and over 50 million payments processed annually, InvoiceCloud is one of the most secure, innovative and inclusive fintech solutions on the market. To learn more, visit www.InvoiceCloud.com.
About EngageSmart:
EngageSmart is a leading provider of vertically tailored software for customer engagement and integrated payment solutions. At EngageSmart, our mission is to simplify customer and customer engagement to allow our clients to focus resources on initiatives that improve their businesses and better serve their communities. Headquartered in Braintree, Massachusetts, EngageSmart offers single-instance, multi-tenant, true Software-as-a-Service (“SaaS”) vertical solutions, including SimplePractice, InvoiceCloud, HealthPay24 and DonorDrive, designed to simplify customer engagement with their customers by driving digital adoption and self-service. EngageSmart serves 89,000 customers in the SMB Solutions segment and more than 3,200 customers in the Enterprise Solutions segment across five core verticals: Health and Wellness, Government, Utilities, Financial Services and Giving. For more information, visit and follow us on LinkedIn.
Forward-looking statements
Certain statements about EngageSmart’s business in this release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on current expectations and assumptions that are subject to risks and uncertainties. All statements in this press release that do not relate to historical facts should be considered forward-looking statements and are generally identified by words such as “expects”, “intends”, “anticipates”, “estimates”, “believes”. “,” “future”, “could”, “should”, “plan”, “goal” and other similar expressions. These forward-looking statements include, but are not limited to, statements regarding the anticipated benefits and use of the InvoiceCloud platform and other statements that are not historical facts. These forward-looking statements are neither promises nor guarantees, but involve risks and uncertainties that may cause actual results and events to deviate significantly from those contained in the forward-looking statements. Actual results and events may differ materially from those anticipated in these forward-looking statements for many reasons, including, but not limited to, the following: our inability to sustain our rapid growth; failure to manage our infrastructure to support our future growth; that our risk management is not effective in preventing fraudulent activities; inability to successfully introduce new features or services or improve our solutions; inability to achieve or maintain profitability; failure to adapt and respond effectively to rapidly changing technology, evolving industry standards and regulations and changing business needs, requirements or preferences; real or perceived errors, mistakes or failures in our solutions; intense competition; lack of success in establishing, growing or maintaining strategic partnerships; The COVID-19 pandemic and its impact on our employees, customers, partners, clients and other key stakeholders; legal and regulatory risks; and technology and intellectual property-related risks, among others. Other important risk factors that could affect the outcome of the events set forth in these statements and that could affect EngageSmart’s results of operations and financial condition are discussed in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2021 and our Form 10-Q for the quarter ended June 30, 2022, as updated by our future filings with the Securities and Exchange Commission. Such statements are based on EngageSmart’s beliefs and assumptions and on information currently available to EngageSmart. EngageSmart disclaims any obligation to publicly update or revise such forward-looking statements as a result of developments occurring after the date of this document, except as required by law.
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