When you send an invoice to an insurer, you can opt to have it paid immediately via EstImage Pay instead of waiting for the insurer to pay it.
EstImage Pay is currently only available on invoices sent to Australian insurers, but you can contact FlipPay if you want to explore further options.
When you factor an invoice with EstImage Pay:
You will receive 100% of the invoice amount, minus the service fee, once your invoice is approved for payment by the insurance company
You will receive the payment on the same day of the request if your bank supports real-time payments, otherwise it can take 1-3 days to receive funds
Your invoice to the insurer will be updated to display FlipPay bank details, so the insurer will repay your agreement directly to FlipPay
You can also repay the agreement at any time (e.g. if you've been paid directly by the insurer for a factored invoice), or contact FlipPay directly to arrange alternative repayment terms on any specific agreement.
Example
Bob runs Awesome Smash Repairs Pty Ltd, and wants to utilise EstImage Pay to better manage his cashflow.
Bob does a job for Great Insurer Pty Ltd and sends his invoice for $5,000.
Bob needs the cash today to buy supplies but knows Great Insurer typically pay on 28 day terms, so he requests EstImage Pay on the invoice.
Bob receives $4,912.50 cash today (the invoice amount, minus a $87.50 service fee).
3 weeks later, Great Insurer pays $5,000 direct to FlipPay – this payment completes Bob’s agreement, with no further action or repayment required.
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