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
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
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!