Zurich North America, a commercial and risk management unit of insurance major Zurich, has implemented One Inc’s digital claims payment system for outbound payments capabilities.
The system, known as ClaimsPay, is said to offer insureds and other claimants digital and near real-time payment options, an upgrade from traditional paper checks.
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This cloud-based payment platform caters to various payment preferences and is designed to handle single and multi-party as well as vendor-related payments.
One Inc said that since the implementation of ClaimsPay, the response from Zurich’s claimants has been positive, with more than 95% opting for electronic payment methods over paper checks.
Zurich North America chief claims officer Keith Daly said: “Implementation of ClaimsPay has fit nicely into our customer-focused strategy. Through digital innovations such as this offering from One Inc, we have given our customers and other claimants a robust electronic payment network that simplifies the claims process and enhances their overall claims experience.”
One Inc CEO Ian Drysdale said: “Digitising claims is a transformative initiative for any insurer, and we are thrilled to be selected by Zurich, a company that is recognised for providing value to their policyholders.
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By GlobalData“As carriers further diversify their policy offerings and place more focus on enhancing their claims workflow, it is crucial to work with a technology partner who understands their operational complexities and has the trusted industry knowledge in processing claims across their product lines.”
Earlier this week, Zurich expanded its services by agreeing to acquire AIG’s global personal travel insurance and assistance business for $600m (SFr538.32m).
This acquisition will merge AIG Travel with Zurich’s Cover-More, enhancing Zurich’s presence in the US and globally.
Additionally, the acquisition will introduce the Travel Guard brand into Zurich’s multi-brand model and include AIG Travel’s global service centres, further strengthening Zurich’s service capabilities.
