Eliminate Float, Improve Cash Application with Mobile RDC Solutions
Written by: FTNI Admin
March 24, 2020
Rural Mutual Insurance Company knows a thing or two about managing a remote workforce accepting payments. Founded in 1934 to serve the needs of Wisconsin farmers, Rural Mutual has grown to become the largest business insurer in the Wisconsin, and one of the Top 50 property and casualty insurance providers in the country with 78,000 policies in force.
While a significant share of policy premium payments come into the Madison, WI, company electronically, checks remain a vital part of the payments mix, with many of those coming in through a network of 150 agents spread across 100-plus locations. It was a situation ready made for remote deposit capture. However, a scanner-based RDC solution wasn’t practical, explained Theresa Bollig, Director of Customer Service. “It just wasn’t cost effective for us to deploy scanners to 150 agents,” Bollig said.
Rural Mutual addressed its need to improve collections and cash application by integrating a mobile Remote Deposit Capture (mRDC) solution with its existing payment processes. “It’s really important that we were able to leverage the automation of our current processes,” Bollig told FTNI’s Zac Robinson. “And to keep it simple.”
Listen to this insightful conversation today to learn how mRDC solutions has helped Rural Mutual accept check payments in the field more quickly and securely than ever before.
Here are just a few of the highlights you can expect to hear in this quick-hitting 15-minute conversation:
0:40 | About Rural Mutual Insurance
2:45 | Looking for Mobile Remote Deposit Capture
4:10 | The Impact on Operations
5:33 | How Roll-out & Adoption was Received by Sales Reps
9:00 | The A/R Life Cycle
10:46 | Some of the Most Notable Efficiencies
12:26 | Advice for Others
Click below to gain exclusive access to FTNI’s Spotlight Series Podcast interview with Bollig and learn how Rural Mutual Insurance integrated mobile Remote Deposit Capture with existing automated tools to slash float times, drive cash application efficiencies and improve employee productivity.