InvoiceCloud and Intellagents to Provide Premier Payments Experience to Insurance Ecosystems

Rhea-AI Summary

EngageSmart's InvoiceCloud has partnered with Intellagents, an insurance software provider, to enhance billing and payment solutions for insurance carriers and policyholders. This collaboration aims to improve customer experiences while easing the burden on insurers' internal IT resources. The integration offers a seamless API for implementing over 60 technology tools, speeding up deployment and resource management. With 77% of policyholders favoring digital payments, this partnership targets the growing demand for efficient online services, ensuring better client engagement and satisfaction.

Positive

• Partnership with Intellagents enhances billing and payment solutions for insurance carriers.
• Offers easy access to over 60 technology integrations, reducing IT resource strain.
• 77% of policyholders prefer digital payment options, aligning with market trends.
• Improves customer engagement and satisfaction through streamlined payment processes.

Negative

• None.

HARTFORD, Conn. & BOSTON--(BUSINESS WIRE)-- InvoiceCloud, an EngageSmart (NYSE: ESMT) solution for online bill payment services, announced a new relationship with insurance software supplier Intellagents, a FatBrain AI company (OTC: LZGI), to provide insurance carriers and their policyholders with a premier billing and payments experience. InvoiceCloud and Intellagents will be sharing more about their joint offering at the ITC Conference September 20-22 in Las Vegas at Booth 2415 and 3176, respectively.

The new joint solution offers policyholders the superior customer experience they expect without straining insurance company’s limited internal resources. Across the industry, insurers are experiencing a shortage of resources, especially in regards to internal IT staff and technology. When an insurer becomes an Intellagents member, they have access to over 60 integrations in the marketplace that can all be implemented through a single API, relieving the internal IT team of the implementation burden. Through the InvoiceCloud and Intellagents integration, insurance companies can implement InvoiceCloud’s inbound premium and outbound payments solution, along with the option of more than 60 other insurance technology tools in Intellagents’ marketplace, into their systems significantly faster and with far fewer resources.

“InvoiceCloud is a best-in-class electronic bill payment solution that complements dozens of other Insurtech and data providers in the Intellagents Insurance Ecosystem,” said Intellagents Founder Mark Stender. “Our no-code integration platform will expedite the onboarding of InvoiceCloud's customers as we connect to a wide variety of billing, policy and claim platforms as well as legacy technologies both in the cloud and on premises. Carriers will quickly begin to benefit from InvoiceCloud’s superior client engagement and payment capabilities upon implementation."

“Partnering with Intellagents enables InvoiceCloud to help more insurance carriers, agents and their policyholders reap the benefits that come with digital transformation,” says InvoiceCloud Vice President of Insurance Julie Schieni. “Our rapid growth in the insurance industry demonstrates the importance of a simple and intuitive policyholder and claimant experience that drives customer satisfaction and the highest levels of digital adoption.”

According to an InvoiceCloud survey, 77% of policyholders made their last insurance payment via a digital route, rendering digital payments an extremely important part of policyholder engagement. InvoiceCloud ensures that these payment touchpoints are as frictionless as possible with an emphasis on ease of use and myriad payment options. Because of InvoiceCloud’s SaaS technology, the payments solution updates automatically without disruption to daily operations and customer experience, so policyholders always have access to the latest payment features and functions.

InvoiceCloud allows customers to make payments in the way that is most convenient to their policyholders, whether that be via phone, online, text, Apple Pay, Google Pay, PayPal, Venmo, or traditional methods like credit card and e-check. Insureds also have the opportunity to set up scheduled payments, reminders, enroll in AutoPay and Paperless Billing, resulting in more on-time payments, accelerated collections and increased customer satisfaction.

To learn more about InvoiceCloud and Intellagents online, visit https://invoicecloud.net or https://www.intellagents.com.

About Intellagents:

Intellagents is a no-code, hybrid cloud, independent insurance integration platform, connecting agents, insurers, and new digital marketplaces and ecosystems with best-in-class Insurtech solutions, data, AI providers, and core and legacy systems to power "Real Change" in the insurance industry. Intellagents removes the costly friction of integrating old and new solutions, and orchestrates agile, efficient performance through one dynamic API marketplace. For more information, please visit www.intellagents.com.

About InvoiceCloud:

InvoiceCloud, an EngageSmart solution, is a leading provider of online bill payment services. Founded in 2009, the company has grown to be one of the leading disruptors in the cloud-based electronic bill presentment and payment (EBPP) space, helping institutions put customer experience first. By switching to InvoiceCloud, clients can improve customer engagement, loyalty, and efficiency while increasing retention and decreasing late payments in the process. With over 2,700 clients across the US and over 50 million payments processed annually, InvoiceCloud is one of the most secure, innovative, and inclusive fintech solutions in the market. To learn more, visit www.InvoiceCloud.com.

About EngageSmart:

EngageSmart is a leading provider of vertically tailored customer engagement software and integrated payments solutions. At EngageSmart, our mission is to simplify customer and client engagement to allow our customers to focus resources on initiatives that improve their businesses and better serve their communities. Headquartered in Braintree, Massachusetts, EngageSmart offers single instance, multi-tenant, true Software-as-a-Service (“SaaS”) vertical solutions, including SimplePractice, InvoiceCloud, HealthPay24 and DonorDrive, that are designed to simplify our customers’ engagement with their clients by driving digital adoption and self-service. As of June 30, 2022, EngageSmart serves more than 89,000 customers in the SMB Solutions segment and more than 3,200 customers in the Enterprise Solutions segment across five core verticals: Health & Wellness, Government, Utilities, Financial Services, and Giving. For more information, visit https://engagesmart.com and follow us on LinkedIn.

Forward-Looking Statements

Certain statements about EngageSmart’s business in this release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on current expectations and assumptions that are subject to risks and uncertainties. All statements contained in this news release that do not relate to matters of historical fact should be considered forward-looking statements, and are generally identified by words such as “expect,” “intend,” “anticipate,” “estimate,” “believe,” “future,” “could,” “should,” “plan,” “aim,” and other similar expressions. These forward-looking statements include, but are not limited to, statements regarding the anticipated benefits and use of the InvoiceCloud platform and other statements that are not historical facts. These forward-looking statements are neither promises nor guarantees, but involve risks and uncertainties that may cause actual results and events to differ materially from those contained in the forward-looking statements. Actual results and events could differ materially from those anticipated in these forward-looking statements for many reasons, including, but not limited to, the following: our inability to sustain our rapid growth; failure to manage our infrastructure to support our future growth; our risk management efforts not being effective to prevent fraudulent activities; inability to introduce new features or services successfully or to enhance our solutions; inability to achieve or sustain profitability; failure to adapt and respond effectively to rapidly changing technology, evolving industry standards and regulations and changing business needs, requirements or preferences; real or perceived errors, failures or bugs in our solutions; intense competition; lack of success in establishing, growing or maintaining strategic partnerships; COVID-19 pandemic and its impact on our employees, customers, partners, clients and other key stakeholders; legal and regulatory risks; and technology and intellectual property-related risks, among others. Other important risk factors that could affect the outcome of the events set forth in these statements and that could affect EngageSmart’s operating results and financial condition are discussed in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2021 and our Form 10-Q for the quarter ended June 30, 2022, as updated by our future filings with the Securities and Exchange Commission. Such statements are based on EngageSmart’s beliefs and assumptions and on information currently available to EngageSmart. EngageSmart disclaims any obligation to publicly update or revise any such forward-looking statements as a result of developments occurring after the date of this document except as required by law.

Disclosure

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220919005875/en/

Media:

Katie Jacobs

Quarter Horse PR

invoicecloud@qh-pr.com

Investor Relations:

Josh Schmidt

EngageSmart, Inc.

IR@engagesmart.com

Source: EngageSmart

FAQ

What is the partnership between EngageSmart and Intellagents about?

EngageSmart's InvoiceCloud has partnered with Intellagents to enhance billing and payment solutions for insurance carriers.

How will the InvoiceCloud and Intellagents integration benefit insurers?

The integration provides a seamless API to implement over 60 technology tools, easing the burden on internal IT resources.

What percentage of policyholders prefer digital payment methods according to InvoiceCloud?

77% of policyholders made their last insurance payment via a digital method.

What are the advantages of using InvoiceCloud for policyholder payments?

InvoiceCloud allows various payment methods, scheduled payments, reminders, and enhances overall customer satisfaction.

When and where will more details about the partnership be shared?

Further details will be presented at the ITC Conference on September 20-22 in Las Vegas.