NASHVILLE, Tenn. — Sept. 5, 2024 — U.S. Bank and InsurePay®, an end-to-end Insuretech payment platform for Carriers, Agents, and MGAs, have partnered to deliver automated payables for Insurance agencies that are U.S. Bank customers.
“Joining U.S. Bank’s Connected Partnership Network is a significant move for InsurePay,” said Mike Senechal, EVP of Payments at InsurePay. “Being a trusted U.S. Bank partner offering integrated payment solutions creates enormous efficiencies for the Insurance agencies we serve.”
Insurance Agencies can now generate payables of all types through InsurePay’s single point of entry in their agency management system. With a direct connection to these systems and U.S. Bank, InsurePay automates payment approvals and payee notifications, remittance reporting, and ACH file uploads.
Through the U.S. Bank and InsurePay collaboration agencies can:
- Easily convert existing carrier and vendor payables from check based to electronic payments
- Connect their agency management system to U.S. Bank
- Work within existing payable creation process while eliminating repetitive steps
- Meet the specific incoming payment needs of insurance carriers
- Enjoy operational savings of over 80% vs existing payables processes
- Provide payables personnel with much needed job efficiencies
- Automate gathering of payment approvals
- Generate automatic notice of payment emailed to payee
- For carrier payables, secure delivery of remittance reports
- Integrate ACH file upload to U.S. bank with no manual steps required by agency.
“Safely and securely integrating our banking and payment capabilities into the software applications that businesses use every day elegantly simplifies the experience for their end users,” said Alberto Casas, head of global treasury management products at U.S. Bank. “We’re pleased to collaborate with InsurePay to deliver these capabilities.”
To learn more about InsurePay contact sales@insurepay.com or visit www.insurepay.com .
About the U.S. Bank Connected Partnership Network
The U.S. Bank Connected Partnership Network is an online marketplace of fintech and other third-party payment and treasury solutions that are fully integrated with U.S. Bank systems. The Network helps corporate treasury teams easily identify and integrate technology already connected with the bank.
About InsurePay
InsurePay® is a leading Insuretech SaaS platform that enables the accuracy of premiums, integrated payments, and reconciliations in real time for Agencies, Carriers, MGAs, and insurance technology providers. InsurePay® is empowering Carriers and their partners to allow policyholders to pay only for what they need with real-time system and data-driven accuracy and flexibility, through a feature-rich platform that offers policyholder payments, Carrier PayGo and payables, vendor payables, and claims payments and Agency receivables all integrated to back-office core systems. To learn more, visit http://www.insurepay.com or follow the company on LinkedIn.
Media Contact:
Mary Wingfelder
(716) 812-5844
