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Policyholders Want Choice and Speed in Claim Payments

Customers file an insurance claim following a stressful event in their lives. The rest of the process should be stress-free.

With Streamline by Metromile, now bolstered with real-time payments through Dwolla, customers can get their claims processed and paid– faster and easier than ever before.


Improving claims handling is key to customer retention

Handling insurance claim payments with speed and simplicity is one critical step for increasing retention with policyholders.

In the past, many insurance carriers chose Guidewire Cloud‘s robust platform to help deliver improved claims handling experiences, but were missing an out-of-the-box solution for modern claim payments handling. If customers encounter an inconvenient experience in the payments process, they might switch providers without hesitation.
What does a great experience look like?


Claimants want choice and speed in payments

Today’s customers want to choose how they are paid, but are aligned on when they want it: Now. As instant P2P payments become commonplace, consumers expect their insurance carriers to have access to the same technology they do to disburse payments in real-time.

Now, with Dwolla’s integration into Streamline by Metromile Enterprise, consumers no longer have to wait for a check in the mail. Policyholders can select their payment preference and have the option to get paid instantly, or track a payment through other methods. It’s a win-win for you and your customers. Allowing for real-time digital payments eliminates the delays and costs of mailing services. While 75% of P&C claims are still paid by paper check, these claims are incurring an extra 7-10 days in cycle time at ten times the cost of a digital payment. And likely disappointing policyholders in the meantime. 

 

Deliver the payments experience policyholders expect with Metromile Enterprise

Settling for the outdated, costly, and slow is untenable. It’s time to deliver the payment experience your customers expect. With Dwolla’s integration into Streamline by Metromile Enterprise, you can provide policyholders with choice, transparency and instant payment. Automation of the payments process significantly improves the efficiency of the claims cycle and gives the customer unlimited payment options. Payment options may include (but are not limited to): debit card, direct deposit, ACH, real-time payments, check, and even future options for bitcoin.

 

With Streamline for Payments, you have the solution you need to:

  • Offer customers choice in how they want to receive claim payments
  • Pay approved claims instantly
  • Speed up claim cycle times with automated payment processing
  • Provide policyholders visibility into their claim payment status
  • Synchronize payment status with Guidewire Cloud for adjuster tracking
  • Reduce administrative burden on claims adjusters
  • Allow for flexibility in adding future payment options
  • Save as much as $9.65 per claim in checking processing costs
  • Improve claim cycle times by a full day!
To learn more about Streamline for Payments, schedule a demo today.
  • Experience the Power of Claims Automation

    The time is now. See how our top-rated automation platform transforms the claims experience for your customers, staff, and business. Request a demo today.