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U.S. Bank Corp. (Minneapolis) has selected Enservio’s (Needham, Mass.) Paysurance platform, a solution for insurance industry clients, to streamline a previously intricate and complex process that both insurers and customers encounter when paying or collecting a settlement.
“At U.S. Bank, we’re committed to meeting the needs of our clients through innovative payment solutions and financial services technology,” comments Rich Erario, EVP and head of Global Treasury Management, U.S. Bank. “Enservio is a recognized leader in automating the disbursement process for insurance companies, and we’re excited to partner with them to deploy the technology needed to accelerate the secure processing of electronic payment and reconciliation for single and multi-party claims.”
Paysurance is designed to help insurers reduce the cost and time associated with processing claims, while providing clients with their settlement funds more quickly, according to a vendor statement. The technology supports payments for auto, homeowner, mortgage and B2B insurers, among others.
“With its large base of insurance clients and its reputation for innovation in the payments space, U.S. Bank is an ideal partner for our Paysurance product,” comments Robert Chase, managing director, Enservio. “We look forward to working together to bring comprehensive payment solutions, including our patented multi-party authorization capability, to the insurance industry.”