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Insurers Embracing Digital Claims Payments, Says Novarica

The rising cost of paper checks and evolving customer expectations have encouraged carriers to investigate additional payment-issuing capabilities. In a new report, Digital Claims Payments: Overview and Prominent Solution Providers, research and advisory firm Novarica discusses the business drivers and benefits of new payment possibilities as well as challenges to consider, and provides an overview of prominent providers in the space.

"Providing policyholders with a full digital experience is another motivation for carriers to investigate the use of digital payments," said Jim Klotz, Vice President of Research and Consulting and co-author of Novarica's new report. "Carriers have invested heavily in creating new digital capabilities in the claims process, only to end the experience with a 'your check is in the mail' notification. Exploring digital alternatives is a way to create a modern, digital payment experience from beginning to end."

Providers profiled include: Bankable, Checkbook, Dream Payments, Fiserv, Hyperwallet, Ingo Money, InsurPAY, One Inc., Paysurance, PayPilot, VPay, and Commerce Bank. 

Please contact media@novarica.com or call Victoria Spitz at 833-668-2742 Ext. 130 for more information.


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