Payables

InsurePay® Payables

Automate Disbursements.

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:

Integrated

One click from
your AMS

Control

Schedule the arrival, cash date and amounts for payments

Certainty
Payments and reporting cannot get lost or separated
Approval
You control the approval process; anytime, anywhere
Security

No missing or lost checks and no check fraud

Key Features

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.

Easy Installation

  • No upfront costs.
  • Local installation of connectivity tool to provide data to generate electronic payment and transmission of relevant policy data.

Pay Electronically

  • 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.

InsurePay® Payables

Stop

Writing Checks

Avoid

Losses, Cancellations and Fraud

Improve
Efficiency, Timeliness and Transparency

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
  • NSFs
  • Down payments
  • Vendor payments
  • Premium refunds

Learn more today

About InsurePay® Payables