Commerce Bank’s Digital Claims Payments App Now Available in Guidewire Marketplace
Guidewire Software (NYSE: GWRE) partners with Commerce Bank (NASDAQ: CBSH) to introduce the new PreferPay® integration for ClaimCenter, aimed at enhancing policyholder satisfaction and reducing claims payment costs. This digital-first claims payment platform allows insurers to offer faster payment options through an automated, mobile-friendly portal. Key features include the ability to manage one-time and recurring payments, attach relevant documents, and track payment status in real-time. This integration supports a transition from traditional checks to digital payments, ultimately benefiting both payees and insurers.
- Introduction of PreferPay® integration for ClaimCenter to enhance payment processing efficiency.
- Faster payment methods for claimants, improving overall policyholder satisfaction.
- Reduction in costs associated with traditional payment methods, including checks.
- None.
The new PreferPay® integration for ClaimCenter to help improve policyholder satisfaction and decrease claims payment costs
PreferPay®, the CommercePayments™ claims payment platform, enables insurers to move their claims payments to a digital-first approach. PreferPay® handles digital payment processing for consumer, multi-party and vendor payments. Payees can choose the best payment method to fit their needs from several digital and traditional offerings, allowing insurers to give claimants faster access to their funds and increase policyholder satisfaction. For digital payment methods, payees access an insurer-branded, automated and mobile-friendly portal, alleviating the burden on adjusters to process payments and answer payment questions. With easily accessible digital payment methods that deliver their payment quicker, claimants are encouraged to opt for digital payment, helping to transition away from checks and reduce claims payment costs for insurers.
With the PreferPay® app for ClaimCenter, insurers can:
- Quickly create and stop one-time and recurring single- and multi-party traditional claims payments;
- Easily attach relevant documents and remit data to payments; and
- View real-time payment status updates and payment history within ClaimCenter.
“PreferPay® for Claims Payments is a reflection of Commerce Bank’s commitment to being an innovative, collaborative financial partner to our customers and solving real challenges,” said
“We congratulate
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View source version on businesswire.com: https://www.businesswire.com/news/home/20211111005279/en/
Senior Public Relations Manager
+1.650.464.1177
mcobb@guidewire.com
VP, Commercial Marketing Strategies & PR Manager,
+1.816.234.2386
Julie.Krueger@commercebank.com
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FAQ
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