Claims processing and underwriting functions already benefit from digitization. But despite a high and rising digital bar for agents, paper check processing persists. Increasing demands for an improved customer experience, time and costs savings in back-office functions, and tighter security are driving agents to go digital with payment processing.
In this Insurtech Center podcast episode, Chase Petrey, president of Applied Pay, dives deeper into digital payment processing and its benefits. You’ll learn:
- The three main reasons for digitizing the payment process;
- The agents’ role in educating insureds on how to change their payment process;
- The surprising hard and soft costs of paper check processing; and
- How machine learning fits into payment processing.