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InsurePay® Reconciliation is designed specifically for the insurance industry as a secure environment to transfer both funds and reconciliation data between agencies and carriers. This service provides the agency the ability to establish the amount payable, date and electronically approve payments to carriers.
Funds transfer from the agencies designated bank account to the Carrier for both monthly receivables and one-time payments. Properly formatted reconciliation data is delivered back to the Carrier’s accounting and policy administration systems.
4 Step Process
Submit Payment from AMS
Carrier Receives Payment and Reconciliation Data
- View real time reports that identify payment stages as pending, authorized or deposited.
- Access associated policy data needed for reconciliation.
- View historical deposits by agency.
- Turnkey auto-reconciliation with Guidewire and Duck Creek systems.
- Choose file format to receive data.
- Direct web services feed available for straight through processing.
- Funds are transferred based on established and safe banking procedures.
- InsurePay Reconciliation utilizes a level of system protection on par with many international banking institutions, including 256 bit encryption and data exchanged with standard security protocols.
Learn more today
About InsurePay® Reconciliation
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