(Image source: Insurity Sure Claims Payments page.)
Insurity (Hartford), a provider of cloud-based software for insurance carriers, brokers, and MGAs, has announced that its Sure Claims Payments solution is now offered as a standalone digital solution. Sure Claims Payments, powered by Dream Payments (Toronto) and connected to J.P. Morgan Payments (New York), enables property/casualty insurance organizations to pay claims in as little as 30 seconds with integrated digital payment options, according to an Insurity statement.
Insurity says that Sure Claims Payments achieves kind of speed and ease increasingly demanded by policyholders, significantly improving the end user’s experience through a digital disbursement process that includes the delivery of claims payments through multiple electronic channels, including Real Time Payments (“RTP”), ACH bank transfers, and virtual cards to both insurance claimants and vendors. It also maintains an on-demand check fulfillment capability to avoid penalties should a payee not accept payment promptly.
Previously, Sure Claims Payments was only available to insurance organizations through integrations with Insurity’s cloud-based claims solutions and APIs for non-Insurity claims systems. Sure Claims Payments now comes with the new Express Launch capability enabling insurance organizations to launch digital payments in as little as four weeks, according to the vendor. Together, Express Launch and Sure Claims Payments will now democratize access to real-time and digital payment services for all insurance organizations, large or small, without requiring them to undertake lengthy, complex, and expensive claims payment integration and enablement projects, Insurity says.
Using Express Launch, customers access a payments portal to issue and manage claims payments quickly, whether that be a claims adjuster at the head office or a claims representative approving a claim on the go or at the home of a claimant, the Insurity statement explains. Allowing customers to manage payments within a cloud-based payments portal and a single process flow intuitively cuts costs by as much as 50 percent when switching from check to digital payments. Express Launch also differentiates the claims experience for policyholders and vendors through its branded and secure portal that is used to quickly and securely review, accept, and receive claims payments, the vendor says.
Digital Capabilities in as Little as Four Weeks
“Sure Claims Payments is already accelerating the claims payments process, providing insurance organizations with the ability to issue digital payments in their claimant’s chosen method while scaling to meet high claims volumes,” comments Sylvester Mathis, Chief Insurance Officer, Insurity. “Now, with Sure Claims Payments’ Express Launch capability, we are further accelerating the onboarding process and empowering insurers with digital capabilities in as little as four weeks.”