Insurity enables digital payments for P&C Insurance Organisations

By Edlyn Cardoza

Insurity, one of the leading providers of cloud-based software for insurance carriers, brokers, and MGAs, announced its commercial partnership with Dream Payments and connectivity to J.P. Morgan Payments digital payments services, enabling insurers to pay claims in just 30 seconds with integrated digital payment options on its Sure Claims Payments solution. This connectivity between Insurity, Dream Payments, and J.P Morgan transforms one of the most critical interactions P&C organisations have with their policyholders.

“At Insurity, we seek to provide our customers with the ability to both issue digital payments to claimants instantly and scale to meet high claims volumes by removing slow check-based processes,” said Sylvester Mathis, Chief Insurance Officer at Insurity. “Through the collaboration between Insurity, Dream Payments, and J.P. Morgan Payments on Sure Claims Payments, this becomes a reality. P&C insurers can issue digital payments instantly using an out-of-the-box integration with Insurity claims systems and APIs for other systems.”

Dream Payments is a robust FinTech company that powers a cloud-based API and embedded payment services that enables financial institutions, insurance companies, and software platforms to offer frictionless digital payment services. J.P. Morgan’s Payments business combines the firm’s treasury services, trade, card, and merchant services capabilities to enable clients to pay anyone, anytime, from anywhere in the world.

Sure Claims Payments, powered by Dream Payments and with connectivity to J.P. Morgan Payments, enables P&C insurance organisations to significantly improve their end-user experience through a modern, elegant, and automatic disbursement process while still maintaining a fallback check fulfillment capability. The payments solution enables insurers to manage payments with a single process flow, cut costs by as much as 50% when switching from check to digital payments, and differentiate the claims experience for policyholders.

“We are delighted to partner with Insurity as it enables embedded and real time claims payments across the insurance ecosystem,” said Brent Ho-Young, CEO of Dream Payments. “Insurity is at the forefront of innovation within the insurance industry, as Sure Claims Payments enables claimants to receive their money quickly, securely, and via their preferred payment method, whether that be a real-time payment, ACH, virtual card, or even a check.”