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FREE WEBINAR Release the stranglehold legacy systems have on insurance pay-outs and reconciliations
Webinar examines solutions to improve efficiencies and reduce the cost of payment management for insurance providers
Tuesday, April 2, 2019
Time TBC
Research commissioned by next-generation provider of mission-critical financial services infrastructure, Banking Circle, has found that nearly a third (28%) of insurers use manual reconciliation methods. Consequently, payment reconciliation processes in the sector are currently highly inefficient, with matching rates lower than 90% for 57% of insurance providers. Anything less than 100% can impact cash flow, draining operational and financial resources as well as results.
Only 19% of respondents rated their premium collection capability as excellent. And less than a third (28%) ranked their speed of claims payment as excellent.
Find out more about how these challenges can be addressed at this special webinar hosted by Intelligent Insurer Magazine and sponsored by Banking Circle.
Improving efficiency and reducing the cost of payment management – reconciliation and pay-outs – can go to the heart of an insurance business, improving customer service and loyalty. Payments are often an afterthought, but have a huge impact on efficiency of the business and should not be overlooked.
The webinar will also explore:
- How the latest solutions are helping insurance providers to streamline payments without the need for significant investment in new technology
- The findings of research into Insurance Reconciliations Challenges, commissioned by Banking Circle, which has identified the pain points insurance providers experience in premium collection, claims payments and onboarding new partners
- How Banking Circle can help insurers use Virtual IBAN accounts, to manage liquidity, improve cashflow and increase customer satisfaction with speedier settlement, automated reconciliation and efficient collections.
Speakers will include:
Mishal Ruparel, General Manager, Banking Circle
Dial in details here/Registration link
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Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
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