InsurePay® Payables streamlines and automates payments and statements between MGAs, agents and carriers. With InsurePay, payments are made on time, securely, and payment details are never separated from the movement of the funds. Facilitate the transfer of funds securely between financial institutions and deliver relevant reports and statements from all major agency management systems.
- With one click in your Agency Management System; issue disbursements, request approval, schedule the arrival, cash date, and amounts for payments for any payable type
- Gain certainty that payments and reporting cannot get lost or separated
- Control the approval process anytime, anywhere
- Automate transmission of remittance reports to carriers
- Bank-level security ensuring no missing or lost checks and eliminate check fraud
- Integration allows for agencies to complete the entire Payables process within the AMS, to carriers and vendors.
Local installation of connectivity tool to provide data to generate electronic payment and transmission of relevant policy data.
- Agent authorized – payment details and funds are strictly transmitted based on the agency's parameters provided in their AMS.
- Choose differing levels of authority for InsurePay Payables users – view only, generate payments, or approve payments plus defined user-specific transaction size limitations.
- Remote approval for designated authorities - payment approval can be executed wherever a user has an internet connection by phone, tablet or computer.
- Carriers receive remittance reports in their preferred format.
- Funds are transferred based on established and safe banking procedures.
- InsurePay Payables utilizes a level of system protection on par with many international banking institutions, including 256 bit encryption and data exchanged with standard security protocols.