InsurePay® Payables streamlines and automates payments and statements between MGAs, agents and carriers. With InsurePay, payments are made on time without concern for lost checks and information. Facilitate the transfer of funds securely between financial institutions and deliver statements from all major agency management systems.
InsurePay Payables streamlines your carrier payment process:
One click from
Schedule the arrival, cash date and amounts for payments
Payments and reporting cannot get lost or separated
You control the approval process; anytime, anywhere
No missing or lost checks and no check fraud
Seamless Integration to AMS
Ability to integrate to all major AMS’, allowing for agencies to start + finish within the AMS.
InsurePay Payables runs silently in the background.
- No upfront costs.
- Local installation of connectivity tool to provide data to generate electronic payment and transmission of relevant policy data.
- Funds are transferred automatically - no specialized banking services required.
- Agent authorized – payment amount and deposit date are controlled by agency.
- Only carriers or MGA’s can receive funds.
Multiple Users with Customized Authority Levels
- Choose differing levels of authority in the agency – ability to view only, generate payments, or approve payments.
- Remote approval, designated authorities in agency can approve payments wherever you have an internet connection – phone, tablet or computer.
Automated reconciliation report
- Data and funds are transmitted based upon agencies entries into AMS.
- Carriers receive real-time reconciliation reports in their preferred format.
Bank Level Security
- 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.
Losses, Cancellations and Fraud
Efficiency, Timeliness and Transparency
InsurePay Payables Eliminates:
Business of any size can benefit:
- Reduce cost and improve efficiency
- Electronic Reporting
- Both parties receive payment notification and real-time confirmation emails
As quick as next business day credit:
- Replacement payments
- Down payments
- Vendor payments
- Premium refunds
Learn more today
About InsurePay® Payables