Insurity, a premier provider of cloud-based software for insurance carriers, brokers, and MGAs, is set to offer its Sure Claims Payments solution as a standalone product, powered by Dream Payments and connected to J.P. Morgan Payments.
The innovative system allows property and casualty (P&C) insurance organisations to issue digital payments to claimants in as little as 30 seconds.
This strategic decision is aimed at facilitating faster claim disbursement and enhancing the claimant’s experience with digital payments. It offers an integral solution for insurance companies and Third Party Administrators (TPAs) aiming to stay ahead of the competition and align with the insurers’ digital strategies.
Insurity, known for its cloud-based solutions, has over 400 deployments and is trusted by top P&C carriers and MGAs in the United States. The Sure Claims Payments solution offers a digital disbursement process with multiple payment options, including Real Time Payments (RTP), ACH bank transfers, and virtual cards, offering increased convenience to claimants and vendors.
The new Express Launch capability, introduced with Sure Claims Payments, will enable insurance organisations to initiate digital payments in just four weeks. This process will allow seamless access to real-time and digital payment services for all insurance organisations, regardless of size, eliminating the need for lengthy and costly claims payment integration projects.
In terms of cost-effectiveness, Express Launch offers significant savings, with potential cost reductions of up to 50% when switching from check to digital payments. It also enhances the claims experience for policyholders and vendors with a secure portal to quickly and securely review, accept, and receive claims payments.
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