(Image source: CFM Insurance homepage.)
CFM Insurance, a Concordia, Mo.-based farm mutual, has implemented sureti (Carlsbad, Calif.), a disbursement platform purpose-built for property claims. The insurer is now in a position to offer its policyholders a completely paperless and lenderless settlement experience, setting a news standard in streamlined claims processing, according to a sureti statement.
CFM Insurance has a long history, dating back nearly 160 years, but it has embraced innovation, according to the vendor statement. The carrier now generates quotes dynamically, and issues policies in real time. Through its work with sureti, the vendor suggests, CFM has transformed its claims process to a modern standard.
“Embracing innovation is key to our commitment to policyholder satisfaction,” comments Kent Peterson, AVP, Claims, CFM. “We’re thrilled about this partnership opportunity that has the potential to streamline the clams payout process for specific policyholders.”
By reducing steps and accelerating time from damage to repairs, CFM aims to provide a smoother experience, Peterson continues. “This program is just one of the many tools at our disposal to support policyholders, allowing them the flexibility to choose what aligns best with their individual needs.”
sureti describes its digital disbursement platform as uniquely positioned to cater to the requirements of property insurance claims. By excluding lenders from the payment process, the vendor says it ensures a rapid and secure delivery of funds to reputable contractors. Using sureti’s Fund Control and Claims Concierge applications, payments are disbursed in real time as work progresses, while ensuring that all parties are informed of progress—potentially eliminating months from the restoration process.
“This is such a significant milestone for CFM, and we are thrilled to be part of its evolution,” comments Chris Longano, Chief Revenue Officer, sureti. “They have been protecting homes and farms for multiple generations, and we are honored to be a part of their legacy of success. Customer trust and loyalty are everything, and their commitment to using sureti amplifies their dedication to making their customers’ lives easier. By allowing sureti to quickly pay the contractor, CFM now has a lens into the restoration process like never bfore, and mitigates the risk of double indemnity.”