System update regarding policy payment by credit / debit card

The European Payment Services Directive (PDS2) became mandatory in the UK in in March 2022 and these regulations were introduced to make payments safer and increase consumer protection through stronger security and customer authentication.

The experience previously in place on the Quoforma+ quoting system was similar to a consumer buying directly from an online provider where verification of the payment needed to be approved by the customer via an app or via a code sent by text.

As consumers are buying an insurance product from Assurant via mortgage and financial advisers this is not the same journey as a customer buying a product online themselves. The approval of the purchase of the product is implied with the customer having given the card payment information to the adviser so we have now removed the additional verification and approval requirement from the customer.

We hope you will agree that this will have a positive impact to both the customer and the adviser experience in the completion of payment by card for an Assurant home or landlord insurance policy.