Disbursement Tracker – Sept 2018
September 5, 2018
“Insurance payouts are the last mile in the overall claims process. As insurers speed up the claims process and management, this last mile is increasingly the weak link — and policyholders feel it.
In the aftermath of an auto accident or loss, vehicle owners need to get their auto back running quickly to return to work, bring the kids to school and manage hundreds of other daily tasks. Many insurers now let owners take a photo of damage and file a claim within minutes, but then it takes days, or weeks, for a paper check to be issued, mailed and deposited. Policyholders hate this delay and resent having to wait for a claims payment, particularly after having made regular premium payments on time.
Innovative insurers are turning this pain point into an opportunity using instant claims payouts. When a policyholder files a claim in minutes and can then choose a bank or card account to be fully funded just seconds later, they are delighted. The insurer has made that last-mile weak link into a point of strength that saves it money and solidifies a lasting relationship with its policyholders.”
Drew Edwards
CEO at Ingo Money
- // TAGGED
- Disbursements Trackers
Table of Contents
- WHAT’S INSIDE
The latest disbursements developments, including how corporate demand for increased payment speeds is powering real-time debuts, developments and partnerships - FEATURE STORY
Andrew Crawford, head of BankMobile’s disbursements business, on how the company is using mobile bank accounts and digital disbursements to power change in the student lending space - NEWS AND TRENDS
The latest headlines from around the space, including new debuts in the insurance industry - DEEP DIVE
PYMNTS explores the same-day disbursement solutions that are changing how consumers and companies get paid - PROVIDER DIRECTORY
The top companies in the disbursements market — including networks, enabling platforms and point solutions — based on the services they provide
// Related Resources
-
Money Mobility Tracker – June/July 2022 How FIs can fight fraud while ensuring money mobility
Grasshopper on the importance of offering secure, frictionless money mobility.
-
Money Mobility Tracker – May 2022 Money-out mobility is gaining in importance
Regions Bank on providing superior and secure money-out mobility experiences.
-
Money Mobility Tracker – April 2022 Navigating the money-in side of the money mobility equation
An in-depth look at consumers’ habits and preferences when opening and funding new accounts, whether traditional or digital-first.