VPay’s Ready for Guidewire accelerator to help insurers provide better claim payment experiences to more of their policyholders and suppliers
VPay, a leader in claims payment solutions and Guidewire PartnerConnect Solution partner, and Guidewire Software, Inc., the platform P&C insurers trust to engage, innovate, and grow efficiently, today announced that VPay’s new Ready for Guidewire validated accelerator is now available to ClaimCenter users in the Guidewire Marketplace.
“if carriers want to delight payees and engender a deeper sense of satisfaction among them, they should offer them choices from an expanded palette of digital payment options.”
According to an Aite Group report on P&C insurance policyholders’ payment disbursement preferences, “payees want a payment option that is convenient, fast, and of their choosing.” Aite Group Senior Analysts Jay Sarzen and Talie Baker recommend that “if carriers want to delight payees and engender a deeper sense of satisfaction among them, they should offer them choices from an expanded palette of digital payment options.” Using VPay’s payment solutions, insurers can offer their policyholders mobile-friendly, real-time digital payment options to boost policyholder satisfaction and retention.
VPay creates configurable claim payment solutions to help insurers deliver better claim payment experiences for payees and insurance professionals alike. With these solutions, payees can choose the payment method that works best for them from multiple options, increasing payee satisfaction. They allow insurers to offer faster and more flexible digital payments, while eliminating check printing and payment management. VPay’s solutions also enable claims professionals to send payments through a standard workflow, reducing costs, and boosting efficiency. VPay handles payee questions and issues through its comprehensive, in-house support center, so that insurers can focus on high impact claims handling tasks.
VPay’s Total Claim Payments integration allows insurers to:
- Seamlessly initiate payments to customers and suppliers from within Guidewire;
- Access real-time document retrieval, payment and enrollment status, notes, and history in ClaimCenter;
- Replace inflexible payment processes and costly paper checks with safe, convenient, and low-cost e-payment options; and
- Reduce costs through increased adoption of epayments to suppliers by leveraging VPay’s network of two million service providers.
“Streamlining and digitizing the claim process is central to achieving economies of scale for insurers,” said Andy Roberts, chief executive officer, VPay. “To help them achieve this, we equip insurers with configurable digital solutions that streamline every aspect of the claims payment process. We are pleased to partner with a leader like Guidewire and extend greater value to our shared customers through the integration of VPay’s total payment solution.”
“We congratulate VPay on the release of its claims payment integration for ClaimCenter,” said Neil Betteridge, vice president, Strategy, Guidewire Software. “Digitizing payments is the next logical step for insurers looking to boost policyholder satisfaction. With the integration of the VPay solution, our joint customers are able to easily harness the next-generation solutions that can help them succeed in the ever-evolving P&C insurance market.”