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Introducing the LW
Balance

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Knowing the health of your balance is essential to paying more claims. We make sure your balance is always healthy.

What is a balance?

A balance is a crucial element for anyone managing a dealer-backed fund, as it reflects the funds available for paying claims. Here's a breakdown to help you monitor and understand the different aspects of your account balances:

Your balance

How much is available to pay claims with?

Claims paid

How much do you have going out in claims?

Your profit

How much profit have you made from your warranties.

Your acccount balance

This is your financial dashboard, showing the real-time amount of money you have available to settle claims. It's a snapshot of your fund's health, offering a clear view of your financial readiness to cover claims as they arise.

Profit

Incorporating Love Warranty into your business model opens up a new stream of revenue. This balance reflects the profit accumulated from your warranties. Watching this balance grow over time can be a rewarding insight into the financial benefits of your warranty program.

Direct Debit

For those who cover warranty costs through an account, it's vital to monitor the balance owed. Each direct debit payment made towards this balance brings it back to zero, ensuring you stay on top of your financial obligations and maintain a healthy account status.

Claims Balance

Maintain a detailed record of your claims balance, including both the amounts already paid out and those pending payment. This ongoing log ensures transparency and helps in forecasting future financial needs for claim settlements.

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How do I get a healthier balace?

Having a healthy balance is key to providing a better warranty platform for customers. We work with you to get you the exact balance you need to pay out more claims. Get in touch with our support team today to get started on improving your balance so you can pay more claims.