Insurance Payments

Impact the Insurance Industry Using Digital Payments

Accelerate your technology roadmap by offering policyholders a digital payment option to have funds credited or debited from their bank account, while simplifying the billing cycle.

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Unlock the Power of Digital Payments With InsurTech

At the heart of the insurance industry is a financial arrangement between the insured and insurer. The insured pays a monthly premium and in return is promised to receive a payment from the insurer if a peril occurs. Given the significance of both inbound and outbound payments, digitizing this experience is a valuable opportunity to engage with policyholders.

Merging legacy systems with insurtech can lead to an insurance payments partner where both the insurer and insured can enjoy a modern, digital payment experience to pay premiums or receive claims payments.

Join the rest of the modern business world in adopting a digital-first payment approach by programming your payments.

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Increase Customer Loyalty

Provide policyholders with a digital payment option that allows them to collect or send payments from wherever they are, without any friction.

Transform Your Processes

Streamline time-consuming processes by digitizing and automating payments that will give time back to your employees.

Automate Reporting & Reconciliation

Sync your accounting software with Dwolla to get real-time updates on the status of every payment, as well as other transaction insights to simplify the reconciliation process.

Digital Disbursements Are Driving Down Costs

Most studies estimate a check will cost between $4 and $20 to process. And while 82% of consumers use some form of contactless payment methods, policyholders are expecting digital experiences that insurance companies are starting to provide.

Meet those expectations by using a programmable payment platform without adding excessive costs or complexity to your operations. Transform your billing, payment and notification processes with Dwolla to streamline policy payments. As an alternative to paying via check, deliver an electronic disbursement to your policyholder’s bank account or debit card in near real-time.

Use this cost calculator from Nacha for an estimate on how your business could save by switching from checks to digital payments.

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Pairing a Streamlined Integration With Enhanced Security

Dwolla’s programmable payment platform is helping insurers by providing payments software with world-class information security controls and step-by-step guides to integrate our software into your application. Our developer documentation was written by developers, for developers.

Choose your programming language and get connected to the U.S. banking system.

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“I went out and looked at other options for ACH but what I found was kind of clunky and very much designed for the accounts payable space. We could have hacked something together but when I learned about the pay-as-you-go plan, Dwolla became a no-brainer. That pricing structure is exactly what we needed.”
CEO & Co-founder
“The time savings component is huge for us, as we would have had to hire an additional employee to support our previous payment process. Dwolla saves us time and provides us with great customer service, with responses on the same day. When dealing with service providers that’s rare.”
Senior Controller

Offer Programmable Payments to Policyholders