Weecover, an InsurTech platform specialising in technology solutions for insurance management and distribution, has officially launched its Insurance Payment Orchestration Module, a product built to address the operational and technological challenges insurers face.
The module is a fully API-first solution that allows insurance companies to automate collections, manage subscriptions and build tailored payment plans. It is already live within a number of leading insurance companies, where it has achieved a 95% retention and success rate for active subscriptions after a four-week integration period.
The tool has been designed to function as a universal solution, capable of connecting with any ecosystem, including ERP, CRM, insurance core systems and eCommerce platforms, to centralise all payment operations through a single control point.
Unlike conventional payment gateways, the module accommodates multiple payment methods, including cards, direct debit, Bizum, PayPal, Apple Pay and Google Pay, as well as a range of providers such as Stripe, Paycomet and Monei, without requiring insurers to replace their existing technology infrastructure.
Beyond processing transactions, the module allows companies to build subscription models, handle recurring collections and offer flexible payment plans that can automatically adjust to reflect changes in taxes, pricing or coverages.
In some cases, insurers using the platform have cut by nearly half the time spent on administrative tasks such as account reconciliation, refund management and updating customer payment conditions.
On the compliance side, the module meets European data protection and financial security requirements, including DORA, GDPR and PSD2.
Key capabilities include fast integration with both legacy and modern software systems, editable payment plans with the ability to modify amounts and collection dates instantly, omnichannel support across online, in-store and pay-by-link channels, real-time transaction reporting with automated alerts, and a cloud infrastructure capable of processing thousands of transactions per second.
Weecover CDO & co-founder Rafael Gallardo said, “We identified that the insurance sector needed its own intelligent layer for payment management.
“Our module does not simply process transactions; it enables companies to create subscription models, manage recurring collections securely and offer flexible payment plans that automatically adjust if there are changes to taxes, pricing or coverages”.
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