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Policyholders Want Choice and Transparency in Claim Payments

Improved claims handling is key to the customer retention

Handling insurance claim payments with responsiveness and speed is critical for increasing retention with policyholders. Insurance carriers choose Guidewire Cloud‘s robust platform to deliver improved claims handling experiences. However, many Guidewire customers are struggling to find a solution for claim payments handling. Historically, an out-of-the-box solution for modern payments handling had been unavailable.

 

Claimants want payment options and tracking

Today’s customers expect choice in how they are paid. They also want to track that payment. Solutions that integrate with Guidewire to offer policyholders these capabilities had been non-existent. Until now.

Now, with Streamline by Metromile Enterprise, policyholders can select their payment preference and then track its progress. Most customers don’t want to wait for a check in the mail. And you don’t want to spend more than necessary for a rental car or hotel while your client awaits that check. Allowing for 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Settling for the outdated, costly, and slow is untenable.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 Streamline by Metromile Enterprise, you can provide policyholders with choice and transparency. Automation of the payments process significantly improves the efficiency of the claims cycle. And the extensibility of Streamline allows for extensibility into unlimited payment options. These payment options 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
  • Allow for easy preference selection via digital customer interactions
  • 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 $11.50 per claim while improving claim cycle times by a full day!
To learn more about Streamline for Payments, schedule a demo today.
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