Real-time Digital Claims Payments: The New Path to Customer Loyalty
August 7, 2018
Push payments have been one of the more talked-about terms in the marketplace over the last year, with many industries and companies taking the leap into the Instant Money Economy. But for insurance companies, old habits die hard, as they cling to the paper check to pay claims. It’s a terribly inefficient process for the company, and no customer wants to wait around for a paper check when they need it for a doctor bill, to repair their car or for damage to their home.
In the latest installment of the “Kill the Check” series of podcasts, Ingo Money CEO Drew Edwards told PYMNTS” Karen Webster that insurance as an industry is ripe for an overhaul when it comes to payments, and indeed, push payments may go a long way toward improving the customer experience.
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