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Insurance
Premium Payment Verification
Lapsed insurance policies due to missed payments hurt both insurers and customers. Fiskil verifies premium payment history and detects at-risk policies before they lapse.
Insurers lose customers to policy lapses while customers lose coverage due to missed payments.
Policies lapse due to failed payment methods
No early warning of payment problems
Difficult to verify payment history for new policies
Manual verification of premium payments is slow
Lost revenue from lapsed policies
Monitor premium payments from banking transactions and verify payment history automatically.
Verify insurance premium payment history from transaction data.
Identify customers at risk of lapse due to insufficient funds or payment issues.
Verify payment method has sufficient funds before policy renewal.
Track premium payments across multiple insurance policies.
Add payment verification to your insurance platform.
Customer connects bank account where premium payments are made.
API identifies insurance premium payments from transaction history.
System verifies consistent payment history and identifies any missed payments.
Continuously monitor for upcoming payments and potential lapse risk.
Track premium payment regularity over time.
Identify failed payment attempts from transaction data.
Check account balance before upcoming premium due date.
Identify when customer has multiple accounts for payment switching.
Score risk of policy lapse based on payment patterns and balance.
Alert insurer when customer is at high risk of missing payment.
A life insurer monitors premium payments to prevent policy lapses.
Result: Reduced policy lapse rate by 35% through proactive intervention on at-risk policies.
A health fund verifies payment history for new policy applications.
Result: Identified risky applicants, reducing first-year lapse rate from 18% to 7%.
An insurer monitors payment capability before policy renewal.
Result: Increased renewal rate by 22% by proactively addressing payment issues.
GET /accounts/{accountId}/insurance-paymentsPOST /insurance/verify-payment-historyGET /insurance/lapse-riskGET /accounts/{accountId}/upcoming-paymentsPremium payment history
Payment dates
Payment amounts
Failed payment indicators
Account balance
Lapse risk score
OAuth 2.0 / CDR consent
Yes
Machine learning identifies insurance payments from transaction descriptions and recurring payment patterns.
Yes, the system identifies payments to various insurance providers from transaction data.
Missed payments, insufficient balance before due date, or patterns indicating financial stress trigger alerts.
Up to 7 years of payment history depending on transaction data availability.
Yes, early detection allows proactive outreach to resolve payment issues before policies lapse.
Yes, all data access requires explicit CDR consent from the customer.
Yes, applicable to life, health, car, home, and other insurance premium payments.
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Join hundreds of companies using Fiskil to power their insurance applications. Get started today with our developer-friendly API.
Products
© Fiskil 2026. All rights reserved.