Enter Modernization Mode
With competition for policyholders reaching new highs, it’s time for Insurers to get ahead of rising expectations by entering Modernization Mode. Winning, retaining and satisfying policyholders demands a next-generation billing and payment solution that offers more ways to pay recurring premiums, faster than fast digital disbursements and timely communications – all while driving down your time and cost to serve. That’s exactly what you get with the best-in-class solution from Paymentus.
“When it comes to shopping, insurers are starting to get the formula right. But they are still lagging far behind the best-in-class (digital experience) offerings in other industries… That needs to become a focal point if insurers really want to build lifetime customer value.”
– Source: J.D. Power 2023 U.S. Insurance Digital Experience StudySM
Digital payments are just one piece of the puzzle. To serve and retain policyholders, you need bi-directional digital communication channels like chatbot, advanced payment notifications, intuitive eBills and more.
Claimants waiting on payouts get them faster with Paymentus. Our disbursements capabilities give you the power to send funds how your policyholders and vendors want, including to modern digital wallets like PayPal, while reducing costs by up to 50%*.
The proprietary reporting dashboard gives staff a single, easy-to-use command center to monitor and manage all billing, payment and claims activities. Robust analytics and real-time reporting provides an unprecedented view to help improve customer support times, reconciliation and business operations.
Secure Service® IVR & SMS deliver payment ease and convenience through PCI-compliant payment acceptance via phone or text.
Policyholders benefit from time-saving options like saved payment methods, AutoPay and automatic notifications.
Policyholders can pay however they prefer with ACH, credit and debit, digital wallets (PayPal, Apple Pay, Venmo) and more!
Client Success
With more than 19 million policyholders, one insurer knew its disbursements needed to enter modernization mode. See how Paymentus reduced payout times to less than an hour, leading to a +20 average Net Promoter Score increase.
The customer experience isn’t over until the money is in their account...Thank you to Paymentus for all the time, energy and effort to help deliver an experience that we feel is a game changer.”
– General Insurance** Process & Strategy Lead
Client Success
The adoption of self-service payment options is a leading indicator of policyholder loyalty and provider cost savings. See how Alfa Insurance blew this out of the water with a 43% increase in AutoPay adoption and a 25% increase in paperless billing.
There's nothing more powerful or important than policyholder loyalty and trust. With relationships that span generations, we serve a client base that still places value on personal interactions. Still, they welcome new capabilities and conveniences like AutoPay that enable them to take care of certain tasks with ease, so we can spend more time with them building relationships that last.”
– Dustin Wilson, Manager of Digital Experience and Retention, Alfa Insurance
See what you stand to gain from working with a partner named Best-in-Class among top direct biller EBPP providers.
Meet the company transforming billing and payment for 1,900+ clients throughout the U.S. and Canada.
Paymentus seamlessly integrates with market-leading software providers including Guidewire and more.
With competition at its peak, it’s time to flip the switch and enter Modernization Mode with a partner that can keep you ahead of today’s rising expectations. Let’s talk to discuss your specific challenges and goals, and learn why now is the perfect time to make the move to Paymentus.
*Paymentus internal data
**Customer company details have been generalized to preserve anonymity
