AcordPay continues commitment to security with SOC2 Certification for its ClearPay Service
TORONTO, ON - June 16 2021
AcordPay, the leading digital payments platform for the insurance industry, announced today that it has completed its SOC2, Type 2 reporting certification for 2020 for its ClearPay service, giving customers added assurance of its core application’s security.
“This the third year in a row that ClearPay (now AcordPay) has completed this audit,” said John Knotek, COO of AcordPay. “We recognize the trust our customers put in us for electronic payments and related reporting and money movement. This certification demonstrates our continued commitment to the safety and reliability of the ClearPay service.”
Data protection and secure money movement are at the very core of what the ClearPay service provides from within a cloud-based environment. With the diverse nature of cloud environments and software as a service providers available in the marketplace, increasingly companies are seeking third-party certifications to attest to the security, availability and confidentiality of the systems used. ClearPay earned the SOC2, Type 2 certification through an extensive review of policies and procedures by an independent third-party auditor.
From day one, security has been a top priority in the design of the ClearPay service. With AcordPay on track to move over $5 billion and 100 million related data points in 2021, maintaining the integrity of the systems and continually enhancing operations has never been more acute.
“Over the last five years, the ClearPay team has been on a progressive path upgrading our core application and the processes and procedures necessary to deliver services in a secure and reliable manner,” said Mike Senechal, CEO of AcordPay. “Continuing with an annual SOC2 certification through the merger with AcordPay continues to reinforce an independent view into our company and to assure our customers that their information is safeguarded.”
AcordPay is the leader in insurance payments technology, providing a suite of payment solutions for collecting premiums (Credit Card, Debit Card, ACH, EFT and Interac), managing the receivables lifecycle, settling with markets and paying claims through its ClearPay service, policy refunds and vendors. Brokers, MGAs, Carriers and other insurance solution providers rely on AcordPay’s payments-as-a-service platform to ensure flow of funds throughout the insurance policy lifecycle. With offices throughout North America, AcordPay processes over $3billion per year in digital payments.
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