InsurePay Reconciliation

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InsurePay® Reconciliation is designed specifically for the insurance industry as a closed environment for insurers to receive funds and remittance information from agencies. Carriers receive advance notice of payments together with the remittance information, prior to receiving an automated direct deposit from the agency using InsurePay agency management system automation.

Remittance reporting is available via web access or can be received directly in leading carrier billing systems.

Key Features

Seamless Integration to Billing Systems

  • Agencies use InsurePay's Payable automation from major agency management systems.

  • Carriers receive payment notification and remittance information prior to the automated payment transfer from agencies.
  • Payments are auto reconciled and posted in billing system.
  • Ease of adoption - Good, better, best options are available for auto-reconcilation
    • Good: receive automate payment email payment notices with manual access to standardized remittance reports
    • Better: carrier specific template populated with remittance information for manual upload
    • Best: direct connectivity with autoreconciliation and payment posting to insurer's billing system
  • Bank Level Security
  • InsurePay Reconciliation protects payments and data, utilizing a level of system protection on par with many international banking institutions, including 256 bit encryption and data exchanged with standard security protocols.

Key Benefits

Save Time

  • Reduce lost check and handling and secure storage costs associated with checks.

  • Reduce needless communication between accounting departments of brokerages and carriers.

  • Enhance ease of doing business with agencies

Eliminate Check Fraud

  • The insurance industry is a popular target by fraudsters

  • Electronic funds transfer is proven to be safe and secure

Simple Implementation

  • Low time commitment, ease of implementation for agencies and insurers alike
  • Support available 12 hours a day.

Product/Service details