P&C carriers that implement Insurity’s cloud-based Sure Claims Payments will benefit from 30-second claims payment delivery
Insurity, a leading provider of cloud-based software for insurance carriers, brokers, and MGAs, announced that it would be providing free digital payments for P&C carriers through December 31, 2022. Sure Claims Payments enables P&C carriers to automate claims payments issuance through existing integration with Insurity claims solutions or a standalone API.
Traditional claims payment solutions stop short of meeting rising policyholder expectations and operational efficiency needs. Almost 75 percent of surveyed consumers want payment flexibility with immediate access to their funds, according to strategic advisory firm SMA. However, COVID-19 and traditional mailing and shipping methods have caused delays in policyholders receiving their claims payment quickly.
Insurity’s Sure Claims Payments software improves the claims payment experience for both the P&C carrier and the policyholder. Claimants receive approved payments within 30 seconds of issuance. P&C carriers who take advantage of this promotion can manage payments with a single process flow that automatically reports payment data to their claims system. P&C carriers can ensure compliance and avoid late payments and penalties with automatic issuance of a check after a specified time frame. With zero implementation and license fees, P&C carriers can reduce costs by up to 50% when switching from checks to digital payments with Sure Claims Payments.
“Sure Claims Payments addresses two critical challenges for insurers today – changing customer needs, and claims processes with multiple touch points. Sure Claims Payments can both streamline operations and elevate the policyholder experience,” said Sylvester Mathis, Chief Insurance Officer, Insurity. “P&C carriers can quickly scale to meet high claim volume by removing traditional check-issuance, while at the same time differentiating their claims experience and exceeding policyholder expectations with fast, modern payment options.”
Insurity customers are looking forward to the operational improvements Sure Claims Payments will provide to both their policyholders and internal teams.
“BETA Healthcare Group is excited to enhance what we can provide to our membership by adding Sure Claims Payments processing to our claims management platform,” said Bill Scribner, VP, Business Intelligence, BETA Healthcare Group. “Not only will Insurity’s software help augment one of the most critical interactions we have with our payees, but we will also benefit from streamlining processes within our operations and systems.”
P&C carriers must agree to a three-year contract of Sure Claims Payments by June 30, 2022 to be eligible. Any physical checks and stop payments are excluded from the promotion.