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Why is Operational Efficiency Important?

Insurers who don’t prioritize operational efficiency are at a much greater risk of failing to deliver the omnichannel digital experience that both customers and agents expect. Per KPMG and Acord, many of those insurers who have been focused on increasing operational efficiency are still falling behind.

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Insurers’ Back-Office Challenges can Directly Impact Customer Experience

Manually reconciling insurance premium payments back to insurers' billing systems and then ultimately back to applicable insurance policies is an extremely error-prone and burdensome process. The more manual and inefficient an insurer’s back-office processes are, the more potential exists for errors that can impact the customer. Imagine a customer’s insurance policy lapsing from a failure to apply cash correctly from premium payments. It’s that easy to lose a policyholder’s trust and business.

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Automated Insurance Payment Reconciliation Improves Insurer Workflow, Reduces Operational Expense, and Increases Accuracy

With the use of next-gen payment technologies, the most routine treasury functions can be managed largely with automation and self-service options. Insurers can quickly access accurate and consistent information, enabling allocation of staff resources to value-added activities that provide a much better customer experience.

Our Reporting and Reconciliation Features

Next-Gen Technologies Enable Better Resource Allocation and Improve Customer Experience.

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Personalized Experience

Curated for Finance and Treasury teams, CSRs and executives,  our Administration Portal is designed to deliver an easy, fast and personalized user experience.

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Automated Billing System Reconciliation

We provide API-driven programmatic reconciliation of payment transactions through settlement. Insurers can report and reconcile payments across payment types, methods, channels and batches.

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Automated Bank Account Reconciliation

With our auto-matching feature, accountants save time and effort reconciling bank account activity, especially beneficial for multiple premium trust accounts. Automatic notifications are delivered when accelerated account matching is complete.

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Real-Time Data

Data is updated and accessible in real-time as payments happen, so you can make informed decisions based upon new and accurate data. Includes chargebacks and declined payment attempts to ensure accuracy.

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Advanced Transactional Search

Designed for insurance use cases, our transactional search function provides advanced search capabilities for insurance payment transactional data. Includes ‘Saved Searches’ and ‘My Reports’ functionality to save preferences, streamline workflow and provide fast access to frequently run reports. Includes the ability for insurers to refund premium (partial or full) directly from search results, adding ease and speed.

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Financial and Analytic Dashboards

Our financial and analytics dashboards allow insurers to easily consume financial summary data and analyze trend drivers down to the transaction level.

Key Statistics


Premium Dollars Consumed By Operating Expenses


Insurers Not Meeting Operational Efficiency Improvement Goals

KPMG Report Operational Excellence in Insurance

Discover our platform

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PremiumPay® 2.0

Align your payment experience with core systems and securely process credit card and ACH payments.

Explore PremiumPay 2.0

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Deliver fast, secure digital claims payments through payees’ preferred channels and methods.

Explore ClaimsPay

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Digitize Your Back-Office to Reduce Risk, Increase Efficiencies and Improve Experience

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