MajescoMastek, the U.S. subsidiary of global technology solutions provider Mastek Limited, has introduced its new STG Electronic Bill Payment and Presentment (EBPP) module, which allows carriers to offer online bill payment and viewing to their policyholders.
The technology provides insurers with a tool to help them attract new customers, increase customer loyalty, and expedite cash flow. The product offering, from the company’s STG property/casualty suite, is a stand-alone module that offers policyholders a self-service real-time bill payment and account viewing option in a variety of languages.
The module, which can be used for single-billed or account-billed policies, also allows policyholders to: manage their profiles online; pay by credit card, electronic fund transfer (EFT), or virtual check via a direct debit option; see and access prior invoices in PDF format; and view installment schedules and payment histories.
“We developed this product offering in response to increased demand from insurance carriers that wanted to provide policyholders the convenience and reliability of paying bills online and benefit from the improved cash flow and profit that timely payments, reduced risk, and better operating efficiencies bring,” says William McCarter, senior vice president of delivery for MajescoMastek. “We plan to add new functions to this STG module to continue to help insurers transform their businesses.”