From the 21st of June, quarterly declarations will be available to new fleets that bind policies with Flock.
This update means brokers and your clients will be able to request invoices on a quarterly basis instead of every month. These invoices will be available to download through the Flock portal and will include a breakdown of all changes made to the policy during that period.
Will quarterly declarations be available to existing customers?
Existing customers will be given the opportunity to move on to quarterly declarations at renewal. Due to the way our policies are administered, we won't be able to swap policies onto quarterly declarations part way through a policy.
Does 'Quarterly' relate to the policy, calendar, or fiscal year?
Policy Year - Every three months, you will get an invoice with all of the changes made; the amount to pay will be split over the remaining months of the policy.
Will quarterly declarations be available to fleets that pay through GoCardless?
Currently, quarterly declarations will only be available to fleets that pay 100% of their premium upfront.