Insurity Enables Digital Payments to Transform Claims Payments Process for P&C Insurance Organizations
December 13, 2022
HARTFORD, Conn.-- Insurity, a leading provider of cloud-based software for insurance carriers, brokers, and MGAs, today announced its commercial partnership with Dream Payments and connectivity to J.P. Morgan Payments digital payments services, enabling insurers to pay claims in just 30 seconds with integrated digital payment options on its Sure Claims Payments solution. This connectivity between Insurity, Dream Payments, and J.P. Morgan transforms one of the most critical interactions P&C organizations have with their policyholders.
Dream Payments is a robust fintech company that powers a cloud-based API and embedded payment services that enables financial institutions, insurance companies, and software platforms to offer frictionless digital payment services. J.P. Morgan’s Payments business combines the firm’s treasury services, trade, card and merchant services capabilities with a vision to enable clients to pay anyone, at any time, from anywhere in the world.
Sure Claims Payments, powered by Dream Payments and with connectivity to J.P. Morgan Payments, enables P&C insurance organizations to significantly improve their end user experience through a modern, elegant, and automatic disbursement process, while still maintaining a fallback check fulfillment capability. The payments solution enables insurers to manage payments with a single process flow, cut costs by as much as 50% when switching from check to digital payments, and differentiate the claims experience for policyholders.
“At Insurity, we seek to provide our customers with the ability to both issue digital payments to claimants instantly and scale to meet high claims volumes by removing slow check-based processes,” said Sylvester Mathis, Chief Insurance Officer at Insurity. “Through the collaboration between Insurity, Dream Payments, and J.P. Morgan Payments on Sure Claims Payments, this becomes a reality. P&C insurers can issue digital payments instantly using an out-of-the-box integration with Insurity claims systems and APIs for other systems.”
“We are delighted to partner with Insurity as it enables embedded and real time claims payments across the insurance ecosystem,” saidBrent Ho-Young, Dream Payments CEO. “Insurity is at the forefront of innovation within the insurance industry, as Sure Claims Payments enables claimants to receive their money quickly, securely, and via their preferred payment method, whether that be a real-time payment, ACH, virtual card, or even a check.”
Insurity is a leading provider of cloud-based software for insurance carriers, brokers, and MGAs. Insurity is trusted by 15 of the top 25 P&C carriers and 7 of the top 10 MGAs in the US and has over 400 cloud-based deployments. Through its best-in-class digital platform and with unrivaled industry experience and the industry’s most robust analytics offerings, Insurity is uniquely positioned to deliver exceptional value, empowering customers to focus on their core businesses, optimize their operations, and provide superior policyholder experiences. Insurity is a portfolio company of GI Partners and TA Associates. For more information, visit www.insurity.com.
About Dream Payments
Dream Payments is a fintech that powers embedded digital payment services for North America’s leading financial institutions, insurance companies, and software platforms. These companies use Dream to send and receive payments to and from customers and suppliers in-person, in-store, and in the cloud. For more information, please visit http://www.dreampayments.com.