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OUTBOUND PAYMENTS

The time when a claim is paid is often called the moment of truth for insurers. The claims experience presents the opportunity to showcase the best of your brand, during what may be a one time experience for your customer.

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ClaimsPay

The time when a claim is paid is often called the moment of truth for insurers. The claims experience presents the opportunity to showcase the best of your brand, during what may be a one time experience for your customer.

 

With ClaimsPay’s claims payment web application, on site adjusters or employees in head office can generate payments direct to your customers. You can also create payments by connecting directly with our API. Customers only need to provide their email address or mobile phone number during the claim’s process. In turn, they will receive an email with your company’s branding with a link to easily deposit their claim payment in a matter of hours.

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ClaimsPay eliminates:

  • In field cheques

  • Stale dated cheques

  • The need to gather customer bank account information

  • Uncertainty over deposit date

  • Internal development expenses

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ClaimsPay streamlines your Claims Payment Process

  • Approval: Payments can be initiated in field and approved centrally

  • Certainty: No more re-issuance due to stale dated cheques

  • Notifications: Customers receive notifications customized by insurer

  • Speed: Customers can deposit funds by accessing email or text message.

  • Quick Deployment: Can be done in a matter of weeks, not months.

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Insurers of all sizes can benefit

  • Personal or business claim payments

  • No need to obtain or maintain a bank account number of claimant

  • On the spot issuance by adjusters

  • Ability to approve all payments centrally

  • Claimant can access payment in hours

  • Simplified reconciliation for accounting

  • Reduce unnecessary costs

Payments made same or next day

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  • Payments up to $10,000 per day per claimant

  • Full or partial claim settlements

  • Single payee claimants

  • Personal or commercial customers

  • Give brokers confidence that claims will be dealt with quickly

  • Funds move directly from insurers account to the claimants

  • Claimants get instant access to funds, no hold period by their bank

VendorPay

Pay all of your vendors through our single, streamlined interface.

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Premium Refunds

AcordPay has a turn-key refund credit  portal that alleviates the manual process of refunding paper checks.

Customer contacts RM to request a refund.

 
 
 
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With approval, customer received refund via ACH transaction.

Two-factor approval process to validate refund request.

Refund request is placed in queue for broker to request funds from carrier.

RM emails customer link to credit portal where they enter DDA/Routing details.

Once funds are received from carrier, email notifications go to RM and manager for approval.

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Speak to us today about a better way to pay!

During this free demo you'll discover exactly how AcordPay will benefit your agency, like speeding up receivables and saving your accounting team time.

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