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Insurers are adapting new digital payment capabilities

Insurance customers want claims payments at the 'speed of light.' Will insurers deliver?

By Karen Furtado | August 27, 2020 at 12:00 AM
Insurance consumers also want their money delivered at the speed of light. (Photo: Shutterstock) How can an insurer provide digital experiences in the payment process to really create a boost in capabilities? (Photo: Shutterstock)

What is the saying old saying? Moving faster than the speed of light? This would be the desired state for many policyholders and claimants, but it is not the current state of inbound and outbound payments processed in insurance today.

That said, there are significant advancements being made by both insurers and solution providers to deliver payments and payment options at a pace much closer to the speed of light.

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