Billing and Payment Solutions for Insurance Companies
Fiserv provides an integrated approach for property, casualty and life insurers with personalized billing, various payment options, multi-party disbursements, and reconciliation services that contain costs and speed revenue collection while meeting regulatory requirements.
Consolidation among insurers is accelerating. Competition is rising and concerns about data security are growing. Policyholders expect more from their digital experiences on the devices of their choosing. Compete effectively and provide the best customer experience with access to new technologies and expertise – without adding excessive costs and complexity to your operations.
Amid these challenges, insurers seek better ways to manage their revenue cycles in a single, cohesive manner. They need to effectively communicate with policyholders, distribute invoices in digital and paper, and provide convenient payment options. In addition, insurers see the importance of an efficient back-office reconciliation process.
| Optimize operations Create efficiencies and lower costs using one vendor for the complete billing and payment life cycle |
| Preferred billing and payment options Provide billing and payment options tailored to customer expectations |
| Streamline collections Speed revenue collection by offering the most payment options anywhere |
| Targeted messaging Improve customer engagement with the right message in the right channel to the right customer |
| Power your payments with enterprise-grade technology Join 12,000+ global businesses processing over 30 billion digital transactions every year |
| Mitigate risk exposure Reduce regulatory compliance and security risk with one of the industry's most trusted providers |
| Fast access to funds Deliver funds in near real-time – all you need is the recipient's bank account, debit/prepaid card, email address or phone number |
The Engagement Advantage approach
Engagement Advantage transforms the way insurers engage policyholders through billing, payment and communication options that drive costs down, improve outcomes and increase satisfaction. Fiserv delivers according to your policyholders' preferences – paper, email, web, mobile or tablet. And with Digital Disbursements funds can be delivered to policyholders in minutes to a bank account, debit/prepaid card, email address or phone number.
Fiserv can help your organization:
- Prepare highly personalized and branded bills
- Present printed and digital bills to policyholders through mail, biller direct and bank channels
- Give policyholders the choice to pay in person, by mail or through digital channels
- Protect your organization's reputation with effective risk management and improved financial controls
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