Boston, July 16, 2019 – The act of paying an insurance claim has been an afterthought for property and casualty insurance carriers, most of which send physical checks or have local adjusters cut checks and deliver them to payees. But given shifting consumer preferences and the availability of newer technology, carriers have several innovative digital claim payment options at their disposal. Can carriers use these innovations to enhance policyholders’ claim experience, deepen their satisfaction, and even increase policyholder retention?
This report explores the various digital claim payment options available to P&C carriers and profiles solutions from ACD, ACI Worldwide, The Clearing House, Commerce Bank, Cover Genius, Dream Payments, Fiserv, Ingo Money, InsurCard, InsurPay, Jack Henry & Associates, Mastercard, One Inc., Pay.claims, and Prelude Software. It is based on 18 interviews with executives at carriers and payments vendors based in the United States and Canada between January and June 2019.
This 46-page Impact Report contains six figures and seven tables. Clients of Aite Group’s P&C Insurance service can download this report, the corresponding charts, and the Executive Impact Deck.
This report mentions ACD, ACI Worldwide, The Clearing House, Commerce Bank, Cover Genius, Dream Payments, Fiserv, Ingo Money, InsurCard, InsurPay, Jack Henry & Associates, Mastercard, One Inc. Systems, pay.claims, and Prelude Software.