Guidewire and Paymentus Holdings, announced that Paymentus’ new Ready for Guidewire validated accelerator is now available to BillingCenter users in the Guidewire Marketplace.
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“Paymentus’ solution can help insurers stay on the leading-edge of payment technology, ensuring policyholders have a wide range of payment methods to choose from. We look forward to seeing our shared customers reap the benefits of its technology.”
Payments are a frequent engagement point for insurers and policyholders that can contribute to policyholder satisfaction. According to McKinsey, “more than four in five Americans used some form of digital payment in 2021.” With the continual rise in popularity of digital payments, insurers will likely have to adapt to new, modern payment methods to keep up with policyholder expectations.
Named the “Best in Class” provider by Aite-Novarica in 2022, Paymentus is a leading electronic bill payment and presentment (EBPP) platform helping insurers make their billing and payments process hassle-free for their policyholders. Paymentus’ technology allows policyholders to make payments and receive payment notifications when and how they want, whether they prefer traditional or modern methods.
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The Paymentus Billing and Payments accelerator enables insurers to:
- Increase customer satisfaction by allowing policyholders to pay via their preferred method, ranging from traditional methods like credit and debit to modern methods like PayPal, Venmo, and Apple Pay;
- Easily view secure payment details within PCI compliance and process refunds and reversals with real-time updates; and
- Securely save policyholders’ account details, including payment method and preferred communication channel, enabling impactful payment notifications and reminders.
Paymentus also handles payment card industry (PCI) compliance for users, allowing them to focus those resources on more important uses.
“Our new BillingCenter accelerator can help insurers keep pace with rapidly evolving customer demand for a streamlined billing and payment experience,” said Dushyant Sharma, Founder and CEO of Paymentus. “With this app, modern insurers can rapidly upscale their billing and payments capabilities, increasing customer satisfaction and policy renewal rates through improved speed of payments collections and claims disbursements.”
“Congratulations to Paymentus on the release of its new BillingCenter app,” said Eugene Lee, senior vice president and general manager, InsuranceSuite, Guidewire. “Paymentus’ solution can help insurers stay on the leading-edge of payment technology, ensuring policyholders have a wide range of payment methods to choose from. We look forward to seeing our shared customers reap the benefits of its technology.”
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